Construction has never moved at the same technological pace as other industries. The nature of the business is that conditions change from job to job, and even construction of “cookie-cutter” restaurants and hotels present different geographic, regulatory and labor challenges. Therefore, it’s no surprise that when a tool or system works—outdated though it may be—there’s hesitation when it comes to changing it on the mere promise of a better deal. As the old saying goes, if it’s not broken, why fix it?
Typically, disruption in the workplace is counterintuitive to productivity. But in terms of creating innovative ways to manage people, processes and technology, the concept of “disruption” isn’t such a bad thing for the construction industry. Change is stirring whether contractors are ready for it or not, and firms that have adopted new ways of managing scheduling and workflows are seeing stellar results—earning the accolades of repeat projects for key clients, as well as happy project partners.
Construction industry employers are competing against each other to hire the most qualified people. Very few top-tier candidates are actively searching for new positions on the market. A majority of the most valuable candidates are passive. Passive candidates only become open to the idea of changing jobs when an extraordinary career opportunity comes to them.
Streamlining projects and improving performance are worthy goals for any company, but particularly for the construction industry, where meeting deadlines and budgets are essential keys to success. Since its development in the 1990s, the Lean methodology has helped companies across a wide range of industries increase profitability and productivity.
For businesses in the construction industry, the success of any project depends on the skill of the team working on it. To improve business outcomes, employers must build strong, talented workforces by recruiting and retaining the right candidates, developing the potential of current employees and taking numerous other steps to achieve workforce excellence.
Anyone who studies history understands that to look back is to look forward, and it seems construction technology follows suit. As construction is rapidly moving into a digital-first world, companies are seeing major shifts in the ways technology helps them streamline practices, reinvent personnel and equipment management and even use virtual and augmented reality to ideate, construct and maintain their buildings. The speedy pace of innovation has heads spinning, often leaving companies feeling a sense of fear from a lack of control.
Because the health care sector is very competitive, medical facilities are using their designs to help entice patients from a physical perspective and infrastructure perspective.
It’s rare to encounter a project in which the budget doesn’t weigh heavily on design decisions. But when construction firms help owners get the absolute most out of every dollar of their investment, they can not only win the work, but also earn a client for life.
Culture is the values, beliefs and methods of operation that drive revenue, create employee engagement and attract and retain only a business owner’s favorite and most profitable kinds of customers. It is the essence of how business is done. It is the way a business operates to contribute to the bottom line.
Nonresidential construction spending contracted during January, according to analysis of U.S. Census Bureau released by Associated Builders and Contractors (ABC). Nonresidential spending fell 1.9 percent from December to $698.4 billion on a seasonally adjusted, annualized basis. This represents the first month total nonresidential construction spending dipped below $700 billion since July 2016.
There is a common misconception that vehicle-installed and cell phone GPS tracking systems are practically the same technology, but they are actually very different. There are many GPS-enabled applications, like field service and workforce management software, that use GPS data from cell phones as their main source of location information. It is important to recognize that cell phone tracking information is not the same as what you will receive from vehicle-installed GPS tracking devices. Continue »
There was a time when non-recourse financing for commercial real estate projects protected borrowers against personal liability for a loan gone bad. Lenders would look solely to the underlying assets of the project to recover losses when a loan defaulted. However, as times have changed, so too have these protections.
The construction industry is in the middle of a time of rapid growth. A hot market is the perfect environment for construction companies of all sizes to take a step back, get a sense of the big picture and strategize ways to grow by branching out into new types of projects.