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The Common Trappings Of The Construction Industry
The various complexities of running your own business will always throw up something new and interesting. Regardless of the industry you are in, it is foolish to think that you know everything, but there are always some common pitfalls that we all fall into.
This is especially true in the construction industry, an industry where there is a high demand for services, either in infrastructure within busy city centres or on the lower end of the scale.
If you are working in construction, or you are an entrepreneur looking at the construction industry as your next business venture, it is worth taking note of the most common trappings.
The Disparity Of Skilled Workers
This is something we have to keep an eye on now, as the baby boomers who dominated the industry are now hitting retirement age. The natural replacements, millennials, are not going towards the construction industry as a viable career choice.
As the younger generations are heading towards education, and view technology as a means to a career, people turning away from the construction in all of its forms. While there are steps being taken to address this issue, you can take the initiative as a small business owner, either by working with contractors under the Construction Industry Scheme or you can work at a grassroots level.
You could aim to be a mentor, and engage colleges and universities directly by advertising your industry, and showing tomorrow’s workers how the construction industry can provide a fulfilling career, and in the short-term, staffing agencies can help to fill the gap.
There is a disparity, but right now, we are at the point where we have to put the wheels in motion to get the younger generations engaged with construction as a career choice.
Insurmountable Insurance Costs
This is one of the pitfalls when it comes to business in general, but if we are struggling in a financial sense, this could be due to high insurance costs. Naturally, there are more insurance policies in place, due to the nature of the job, in comparison to a low-risk environment. But, it’s your responsibility to keep on top of the policies and be competitive in your hiring methods.
Contractor insurance can be one of the bigger costs, but there’s no getting around it, in which case, it’s your responsibility to keep on top of changes in cost.
A Lack Of Communication
Amazingly, there is still a considerable amount of communication breakdown in any construction job. While you may find that the blame game is a commonality in the industry, a lot of the problems can boil down to one simple thing, a lack of communication. Technology can help, but it’s far better for every area, from the contractor to the project manager, and everyone in-between, to start off on the right foot and have a baseline of positive communication, so this helps the project’s progress smoothly.
The construction industry can be a volatile environment, but with any industry, there are traps we can fall into. If you are new to this industry, research will go a long way, but so will experience. As soon as you see it yourself, you will get a better understanding of these common trappings.