When you look at your business and try to work out how you can better improve your bottom-line, one of the most effective methods of doing so is to address any issues your industry is facing. Every market changes, it is one of the only things that remains constant, and by knowing what challenges face your market you can better prepare yourself. It is a matter of knowledge and problem-solving.
As such, we reached out to some industry leaders and asked them what they believed the main key issues would be over the upcoming year.
The Need To Be Environmentally-Friendly
We live in an age where people are more conscious than ever before, and at the top of the list is the environment. That’s where the idea of perception being reality comes in because it is perceived to be that up to 40% of carbon emissions comes from the construction industry. As such, you need to make a show about your energy efficient changes, and your water consumption, and show potential clients how your company complies with the social obligation to be greener. Hit this gap in the market and your customer base will improve.
The Need To Adopt The Changes In Tech
There is a very simple way to put this; those who do not keep up get left behind. That is the mantra of technology, and it delivers it without remorse. Of course, you can’t just throw the very latest tech into the mix and expect your employees to be compliant immediately, which is why you should introduce slowly and reap the benefits with time. The tricky thing is getting your head around what you need. It could be BIM and laser scanners, and construction site security cameras to protect these investments. It could virtual reality that becomes common practice or allowing project management to be done remotely. The options are phenomenal. So work out your weaknesses, your risks, and your needs, and hire a consultant to see what would suit you best.
There Are Fewer Skilled Workers Available
It is expected that the construction industry will continue to grow. But, despite this, the majority of contractors and construction firms are struggling to find qualified workers or professionals to help them grow and fill the positions that are available. That’s why you need to do everything you can to combat this shortage. It could be that you offer more specialized training, or mentoring. Perhaps you can lure the top talent with better pay and improved packages. How you go about protecting yourself is up to you, just make sure you are aware of this issue. What’s more, be wary of how employing unskilled workers could affect your company’s reputation, especially in areas of quality and safety.
Generation Conflict Is On The Rise
One of the other things a lot of leaders say they are experiencing is a conflict among the different generations on their workforce. Millennials have now become the majority shareholders in employment terms, and their ethics, expectations, methods and skills can contrast with those that came before them. As such, your need to have a compromising and strong manager is becoming more and more essential. Conflicts on a site are not good, so appease before anything becomes irreparable.