STOCK TITAN

3 out of 4 Houston-Based Tradespeople Say that Investment in Their Tools Was a Barrier to Beginning Their Career, DEWALT® Tool Talk Survey Finds

Rhea-AI Impact
(No impact)
Rhea-AI Sentiment
(Neutral)
Tags

DEWALT, a Stanley Black & Decker brand, conducted a survey of Houston-based tradespeople, revealing significant insights about the impact of tool investments on careers in the trades. Key findings include:

- 78% of tradespeople agree that the initial cost of tools was a barrier to starting their career
- 88% believe easier access to necessary tools would attract more workers to the construction industry
- 93% say investing in durable, high-performance tools is worth the higher cost
- 78% refresh or replace their tools at least once a year, with 65% estimating annual investments of $10,000 or more

In response, DEWALT is gifting 100 tool kits to graduates of The Home Builders Institute's Houston BuildStrong Academy as part of their $30 million Grow the Trades initiative to address the skilled labor shortage in the U.S.

DEWALT, un marchio di Stanley Black & Decker, ha condotto un sondaggio tra professionisti del settore con sede a Houston, rivelando dati significativi sull'impatto degli investimenti in attrezzature sulle carriere nel settore artigiano. I risultati principali includono:

- Il 78% dei professionisti concorda sul fatto che il costo iniziale degli strumenti rappresentava una barriera per iniziare la propria carriera
- L'88% ritiene che un accesso più facile agli strumenti necessari attirerebbe più lavoratori nell'industria delle costruzioni
- Il 93% afferma che investire in strumenti durevoli e ad alte prestazioni vale il costo più elevato
- Il 78% rinnova o sostituisce i propri strumenti almeno una volta all'anno, con il 65% che stima investimenti annuali di 10.000 dollari o più

In risposta, DEWALT sta donando 100 kit di attrezzi ai laureati dell'Academy BuildStrong di The Home Builders Institute di Houston come parte della loro iniziativa Grow the Trades da 30 milioni di dollari per affrontare la carenza di manodopera qualificata negli Stati Uniti.

DEWALT, una marca de Stanley Black & Decker, realizó una encuesta entre trabajadores del sector con sede en Houston, revelando datos significativos sobre el impacto de la inversión en herramientas en las carreras del oficio. Los hallazgos clave incluyen:

- El 78% de los trabajadores coincide en que el costo inicial de las herramientas fue una barrera para comenzar su carrera
- El 88% cree que un acceso más fácil a las herramientas necesarias atraería a más trabajadores a la industria de la construcción
- El 93% dice que invertir en herramientas duraderas y de alto rendimiento vale el costo más alto
- El 78% renueva o reemplaza sus herramientas al menos una vez al año, con el 65% estimando inversiones anuales de $10,000 o más

En respuesta, DEWALT está regalando 100 kits de herramientas a los graduados de la Academia BuildStrong de The Home Builders Institute en Houston como parte de su iniciativa Grow the Trades de 30 millones de dólares para abordar la escasez de mano de obra calificada en EE.UU.

DEWALT는 Stanley Black & Decker 브랜드로, 휴스턴에 기반을 둔 전문가들을 대상으로 설문 조사를 실시하여 도구 투자들이 직업에 미치는 영향에 대한 중요한 통찰을 revealed입니다. 주요 발견 사항은 다음과 같습니다:

- 78%의 전문가들이 도구의 초기 비용이 경력을 시작하는 데 장벽이 되었다고 동의합니다
- 88%는 필요한 도구에 대한 접근이 용이해지면 건설 산업에 더 많은 근로자를 끌어들일 것이라고 믿습니다
- 93%는 내구성이 뛰어나고 고성능인 도구에 대한 투자가 더 높은 비용을 정당화한다고 말합니다
- 78%는 적어도 연간 한 번 이상 도구를 새로 구매하거나 교체하며, 65%는 연간 10,000달러 이상의 투자를 예상합니다

이에 따라, DEWALT는 휴스턴 빌드스트롱 아카데미의 졸업생들에게 100개의 도구 키트를 기증하고 있으며, 이는 미국의 숙련 노동력 부족을 해결하기 위한 3천만 달러 규모의 Grow the Trades 이니셔티브의 일환입니다.

DEWALT, une marque de Stanley Black & Decker, a mené une enquête auprès des artisans basés à Houston, révélant des idées significatives sur l'impact des investissements en outils sur les carrières dans le secteur. Les principaux résultats incluent :

- 78 % des artisans conviennent que le coût initial des outils constituait un obstacle pour commencer leur carrière
- 88 % pensent qu'un accès plus facile aux outils nécessaires attirerait davantage de travailleurs dans l'industrie de la construction
- 93 % affirment qu'investir dans des outils durables et haute performance en vaut le coût plus élevé
- 78 % renouvellent ou remplacent leurs outils au moins une fois par an, avec 65 % estimant des investissements annuels de 10 000 $ ou plus

En réponse, DEWALT offre 100 kits d'outils aux diplômés de l'Academy BuildStrong de The Home Builders Institute à Houston dans le cadre de leur initiative Grow the Trades de 30 millions de dollars pour remédier à la pénurie de main-d'œuvre qualifiée aux États-Unis.

DEWALT, eine Marke von Stanley Black & Decker, hat eine Umfrage unter Handwerkern in Houston durchgeführt, die bedeutende Erkenntnisse über die Auswirkungen von Investitionen in Werkzeug auf Karrieren im Handwerk liefern. Die wichtigsten Ergebnisse sind:

- 78% der Handwerker stimmen zu, dass die anfänglichen Kosten der Werkzeuge eine Barriere für den Einstieg in ihre Karriere darstellten
- 88% glauben, dass ein leichterer Zugang zu notwendigen Werkzeugen mehr Arbeitnehmer an die Bauindustrie anziehen würde
- 93% sagen, dass sich die Investition in langlebige und leistungsstarke Werkzeuge trotz der höheren Kosten lohnt
- 78% erneuern oder ersetzen ihre Werkzeuge mindestens einmal im Jahr, wobei 65% jährliche Investitionen von 10.000 Dollar oder mehr schätzen

In Reaktion darauf verschenkt DEWALT 100 Werkzeugkits an Absolventen der BuildStrong Academy von The Home Builders Institute in Houston im Rahmen ihrer 30 Millionen Dollar schweren Initiative Grow the Trades, um dem Fachkräftemangel in den USA entgegenzuwirken.

Positive
  • None.
Negative
  • None.
  • Amidst a national skilled labor shortage, 88% of tradespeople in Houston say that easier access to necessary tools would attract more workers to the construction industry
  • The majority of tradespeople (92%) say that not having the right tools or losing a tool on the jobsite is a significant hindrance to productivity
  • This year, DEWALT will gift 100 tool kits to graduates of The Home Builders Institute's (HBI) Houston BuildStrong Academy to jumpstart their trades careers, including the latest cohort graduating on August 23

TOWSON, Md., Aug. 21, 2024 /PRNewswire/ -- A new survey of Houston-based tradespeople from DEWALT, a Stanley Black & Decker (NYSE: SWK) brand and leader in total jobsite solutions, found that 78% of tradespeople agree that the initial buy-in cost of tools, which can range from several thousands to upwards of $10,000, was a barrier to getting started in their career. As the nation grapples with a skilled labor shortage consisting of more than 500,000 open construction jobs, the DEWALT Tool Talk Survey examined how having the right tools for the job impacts those beginning a career in the trades.

"Our findings tell us that two in three tradespeople in Houston (66%) did not own all the tools needed for their job upon starting their career, and of those, half (52%) say they saved up or took out a loan to purchase tools," said Jeff Doehne, President, U.S. Retail, Stanley Black & Decker. "As part of DEWALT's commitment to grow the trades, we are making every effort to empower those starting out by supplying the tools young professionals need to be successful from day one."

Proper Tools are Worth the Investment

Upon the start of their career, nearly 3 in 5 tradespeople (57%) cite the need to replace their toolset with more heavy-duty tools or not having the tools they need as the biggest roadblocks.

Not surprisingly then, 93% of tradespeople say that investing in durable, high-performance tools is worth paying a higher cost. For nearly 3 in 4 tradespeople (72%), it took two years or less to see a return on the money spent on their initial investment in tools.

As their careers progress, more than 3 in 4 tradespeople (78%) are refreshing or replacing their tools at least once a year with 65% estimating their annual investment in tools, batteries and accessories to be $10,000 or more. Further, 41% estimate this investment is $25,000 or more.

Access to Tools May Attract More Workers to the Construction Industry

For more than 4 in 5 tradespeople (86%), it would have been extremely significant or very significant to receive a gift of core tools for their trade upon the start of their career, while 88% go as far to say that easier access to necessary tools would attract more workers to the construction industry.

As part of DEWALT's Grow the Trades initiative, a $30 million commitment over five years to close the skilled trades gap in the U.S., DEWALT will provide tool kits to 100 students of HBI's BuildStrong Academy in Houston throughout the year. DEWALT will be onsite to hand deliver kits to the latest graduating class on Friday, August 23.

In March 2024, DEWALT partnered with The Home Builders Institute, the nation's leading nonprofit provider of trade skills training and education for the building industry, to become HBI's BuildStrong Academy Tool Trade Sponsor. HBI's BuildStrong Academy in Houston is a tuition-free, industry-driven academy that provides hands-on training and education for anyone interested in pursuing a career in construction. In addition to hands on training, the organization focuses on professional development, mentoring, and ongoing support, equipping students with the necessary skills and certifications to meet the demand for skilled workers.

To learn more about DEWALT's Grow the Trades initiative, please visit: www.dewalt.com/growthetrades.

To learn more about the HBI's BuildStrong Academy, please visit: hbi.org.

Methodology
DEWALT commissioned Atomik Research to conduct an online survey of 903 tradespeople1 throughout the United States. The sample consists of tradespeople from three markets, Orlando, FL (n=300), Houston, TX (n=301) and Phoenix, AZ (n=302). Fieldwork took place between November 15 and November 21, 2023. The margin of error for the overall sample is +/- 3 percentage points with a confidence interval of 95 percent. Atomik Research is an independent creative market research agency.   

1In order to qualify for participation in the study, participants must indicate a trades profession in the electrical, carpentry, mechanical, plumbing/pipe trades, general contracting, masonry /concrete, flooring, framing or HVAC trade.

About DEWALT
DEWALT, a Stanley Black & Decker brand, celebrates 100 years in business by continuing to provide our customers with total jobsite and outdoor solutions. By applying its latest technology to the challenges of today's skilled trades, DEWALT is leading the charge for the jobsite of the future and is pioneering the next generation of tools, outdoor equipment and forward-looking technologies. DEWALT products. GUARANTEED TOUGH®. For more information, visit www.dewalt.com or follow DEWALT on FacebookInstagram, and LinkedIn.

About Stanley Black & Decker
Founded in 1843 and headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is a worldwide leader in Tools and Outdoor, operating manufacturing facilities globally. The Company's approximately 50,000 diverse and high-performing employees produce innovative end-user inspired power tools, hand tools, storage, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners to support the world's builders, tradespeople and DIYers. The Company's world class portfolio of trusted brands includes DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®. To learn more visit: www.stanleyblackanddecker.com or follow Stanley Black & Decker on FacebookInstagramLinkedIn and X.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/3-out-of-4-houston-based-tradespeople-say-that-investment-in-their-tools-was-a-barrier-to-beginning-their-career-dewalt-tool-talk-survey-finds-302227521.html

SOURCE DEWALT

FAQ

What percentage of Houston tradespeople say tool investment was a barrier to starting their career?

According to the DEWALT Tool Talk Survey, 78% of Houston-based tradespeople agree that the initial buy-in cost of tools was a barrier to getting started in their career.

How much do tradespeople typically invest annually in tools, batteries, and accessories?

The survey found that 65% of tradespeople estimate their annual investment in tools, batteries, and accessories to be $10,000 or more, with 41% estimating this investment at $25,000 or more.

What is DEWALT's Grow the Trades initiative?

DEWALT's Grow the Trades is a $30 million commitment over five years to close the skilled trades gap in the U.S. As part of this initiative, DEWALT is providing tool kits to 100 students of HBI's BuildStrong Academy in Houston throughout the year.

How long does it take for tradespeople to see a return on their initial tool investment?

According to the survey, nearly 3 in 4 tradespeople (72%) reported that it took two years or less to see a return on the money spent on their initial investment in tools.

What percentage of Houston tradespeople believe easier access to tools would attract more workers to construction?

The DEWALT Tool Talk Survey found that 88% of Houston-based tradespeople believe that easier access to necessary tools would attract more workers to the construction industry.

Stanley Black & Decker, Inc.

NYSE:SWK

SWK Rankings

SWK Latest News

SWK Stock Data

15.65B
153.96M
0.26%
90.99%
3.29%
Tools & Accessories
Cutlery, Handtools & General Hardware
Link
United States of America
NEW BRITAIN