The future of construction industry businesses is in a constant state of flux. This is because the construction industry is one of the most lucrative in the world, with demand always high for these services. While consumer demands for some services will ebb and flow periodically, there will always be a need for housing construction or other similar projects. Whatsmore, a recent report from Oxford Economics found that the construction industry is set to propel economic growth and recovery following the COVID-19 pandemic.
Regardless of what industry you work within, embracing change is the key to long-term business survival. For example, utilising new technology can heighten productivity and efficiency. This, in turn, can improve customer and employee satisfaction rates, giving your brand longevity. Failure to implement new technology means that your practices risk becoming outdated.
While new technology and software will likely play a growing role in the future of the construction industry, it’s also important to remember that the future of any industry often lies on the incoming talent. That is, the staff that will pioneer the industry moving forward.
How are employees shaping the future of construction industry businesses?
A change in workplace culture
There are various different ways in which the current workforce is changing or shaping the future of the construction industry. For example, employment trends mean that the way in which we approach work is changing. While there was once a call for strict schedules and a glorification of hustle culture, the current workforce is calling for better work-life balance, and employers must listen if they want to improve their talent acquisition and retention rates.
This is bringing around a real change within the construction industry, where projects must be completed within a tight timeframe. As such, it’s important that you consider how you approach workloads, ensuring employees are not burnt out and that their varying needs are met. Thankfully, there are various ways you can achieve this goal. For example, you could pull together an employee wellness scheme. While wellness likely means something different to each and every employee, it should simply focus on providing them with access to support for any wellbeing issues they encounter at work or within their personal lives.
New ideas and innovation
Perhaps the biggest impact the current workforce will have on the industry moving forward comes in the form of new ideas. When new perspectives are welcomed into the workplace, you’re making room for innovation that could set you apart from your competitors. There are various ways in which these new ideas could come into play; for example, an employee may be able to come up with a quicker method for completing a project that was otherwise time-consuming and laborious. This will not only save you time, but money and energy too. New ideas are also a great way to improve employee safety, a key pain point in the construction industry since the work often puts your team in the path of a hazard.
When scouting new talent, keep an eye out for those who are the most receptive to change, who are excited about the endless possibilities that the latest tech or software offers or who have ideas they can bring to your company. This is because it’s all too easy for employees to get stuck in their ways, believing that because something was taught to them in a certain way that is the only way to do it. This behaviour, while easy to fall into, limits your company’s success as it does not encourage creative or innovative thinking. It places a barrier between your team and that next great, time-saving idea.
How can I ensure my company attracts the right talent?
When the future of the industry lies within hiring and attaining the right staff, it’s important that you look into your hiring practices sooner, rather than later. After all, failing to attract top talent could set your business or brand back considerably. Thankfully, there are various ways in which you can achieve this goal. For example, you could:
• Speak to current and past employees to identify any mistakes you may currently be making. Addressing employee complaints enables you to enact positive change that will improve retention rates across the board. Allow feedback to be provided anonymously, as this encourages your staff to be more honest about how they are feeling.
• Provide employees with plenty of opportunities to develop professionally when working for your company. For example, you could implement mentorship schemes or cover the cost of any additional training they may want to undertake.
• Prioritise employee wellbeing, ensuring their varied needs are met in the workplace. While it’s natural to want to push your employees towards success, your goals and targets should not be placed above their mental well-being, particularly in the current climate.
• Work with experienced headhunters to refine your hiring process, and seek out the best talent for your job openings. For example, at CNA International, we pride ourselves on having a market-leading approach to identifying the right candidates for your business via our executive search solutions. We understand that employees are your most valuable asset, meaning we won’t rush to fill empty desks, and will only send candidates your way who we believe are a good fit for the job.
What is the future of construction industry businesses?
When asking yourself ‘what is the future of construction industry business?’, remember that it’s your staff that drives company progress forward. That’s why we’re on hand to help you find the right candidate for each role.
At CNA International, we pride ourselves on our commitment to providing our clients with a high level of service across the board. This enables us to introduce brands of all sizes to top-tier candidates across various sectors, including the construction industry. We’ve worked within the UK and internationally, which has provided us with the insight we need to help your business thrive.
To find out more about how we could help to future-proof your construction business, please do not hesitate to get in touch and start the conversation today. We look forward to hearing from you.