Any seasoned contractor has their own list of things that could go wrong in this line of work. The struggle is as real as they get. The job itself ain’t a walk in the park, with plenty of hazards waiting on-site, so it isn’t all rainbows without the underwater rocks that crept beneath the surface.
From labor shortages to miscommunication, this article is meant to help you navigate some common issues you may encounter. And we’re not just laying out the info for you. We give general guidelines that could help you get started!
Fight Labor Shortage
The labor shortage is no joke, and the construction industry, where most general contractors dwell, is not much different. People aren’t going crazy about the thought of having to work their behinds all day ‘round, regardless of weather conditions and season. Research indicates that a whopping 89% of contractors encounter problems when trying to fill the required positions. The situation is dire, but you can use it to your advantage!
It might sound pretty basic, but start by offering competitive wages. Sure, it’s a certain expense, but see it more as an investment, and you’ll see how it will pay itself off gradually. Don’t forget to implement training programs to help your subordinates hone their respective skills. Attracting top talent is easier when you have something tangible to offer. Don’t let your competition beat you to it!
Ensure Supply Chain Resilience
Did you know your project might become 15% more expensivedue to supply chain disruptions? It’s true! So, make sure you have a scenario in place that involves diversifying your suppliers. Use your network to make more connections, and have them close by whenever it smells like another vendor is unable to fulfill their duties.
A contingency plan is a must in cases like this. Otherwise, you risk delays, unfulfilled agreements, revenue loss, and so on! Take care of your supply chain the right way, and you will save tons of time and money when yet another market issue jeopardizes your operations.
Implement Quality Control
Another pesky modifier is quality issues. These might account for up to 9% of total project expenses. Just think about it! Safeguard yourself from this unfortunate expense by implementing rigorous quality checkups at every stage of your operations. Invest in the highest-quality materials and hire experienced specialists.
Adhere to the top industry standards, and you won’t have to worry about subsequent quality issues that might arise once the contractor leaves the premises.
Embrace Technological Integration
Technology is everywhere! Getting the most from it will significantly help you solidify your market presence. Studies show that cutting-edge tech increases productivity by 15% on average! Use tools such as Building Information Modeling (BIM) and project management software to optimize your workflow and enhance collaboration.
Implementing such technology will help you minimize risks, predict project outcomes, and calculate your expenses on the go. In today’s digitally oriented world, satisfying the customer’s high-tech requirements is just as important as the quality of services that you provide.
Introduce Safety Programs
Sadly, around 20% of all workplace fatalities occur in construction. It’s just a fact that can’t be argued. Still, you can avoid these tragic incidents by implementing a rigorous safety protocol that would include training and certification.
It would help you reduce all injuries by 50% from week one. A more productive and safer work environment for all is one of the essentials that you need to ensure in all the right ways.
Standardize Communication and Planning
If you want to succeed in any business, you must ensure complete communication transparency. Maintain open lines with your customers, partners, and even competitors to ensure that you can keep up with everything that is going on in the industry.
Collaborating with everyone in real-time will ensure that you are the first to know about any issues or changes. Make it your goal to be as transparent and open as possible.
What Else to Consider
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Conclusion
Follow these simple guidelines and see your contractor business thrive. Implementing any of our recommendations will result in increased efficiency and streamlined operations.
Embrace the change and evolve with it.
