What the construction industry must do in 2015 to achieve success

  • 19 Jan 2015

Wes Simmons, Managing Director at Eque2 Limited

comments on how the construction industry can make the most of opportunities for success in 2015

 

 

The legions of economists and analysts who churn out forecasts for our consideration do not have a great track record, it must be said. How many saw the worst recession in living memory coming? Very few, bar the occasional contrarian. However, as everyone in the construction industry looks to fine-tune their business model for the coming year, it’s impossible not to notice the construction industry forecasts which swirl around us.

Peaks and troughs

It’s always good to start with the positive, such as with Experian’s latest overview of the UK construction industry. Its construction industry forecast is that the UK construction growth will average over 4% in 2015, before dropping below 3% in 2016. 

“Private housing and infrastructure are expected to be the best-performing; the former driven by the impetus given to it by the Help-to-Buy scheme and the latter by rising investment in energy and transport projects,” predict Experian.

Construction industry forecasting bulls will point to the £120 billion supply chain (almost all sourced within the UK), the sector’s ability to offer world-class design skills and the low entry cost. The bears will highlight the low level of vertical integration in the supply chain, the very high reliance on subcontractors,the low levels of innovation and the reluctance to invest significantly in R&D.

Technology to drive change

If we leave the economists to debate the merit of their construction industry forecasts though, there’s no doubt that the construction industry does face major challenges in 2015. One major strategic issue is how our sector adopts the latest technology and embraces the use of cloud solutions. I was intrigued to read the below feature, from a digital media analyst at the 2014 IP Expo Europe, a major international event for ICT infrastructure and cloud technology.

I spoke to Ahmet Tuncay,CEO of the US-based technology specialist Soonr, about the trend for companies to use applications which are not tailored to their requirements. “For example,construction companies may be using the same software as medical institutions. By specifying software to the task at hand, productivity can be increased,” were the words which caught my eye, and which should be considered by all firms in our industry looking to adopt technology.

Attracting new talent from Generation Z

There’s also a second significant issue in our construction industry forecast which relates to how construction firms use technology – how they look to recruit talent from Generation Z. This generation hasn’t simply grown up with technology, they are tech-reliant, so they simply won’t choose to work in a business which can’t demonstrate that technology is at its heart.

This is a typical graduate recruitment ad aimed at members of Generation Z, from Skanska. It demands problem-solving skills and good commercial awareness, but you can bet your last barrow-load of bricks, that everyone who applies will be expecting to work with the latest tech-based systems to achieve their goals.

A blooming 2015

Keep your construction company blooming in 2015 with an efficient approach

– download the free Eque Guide to 7 characteristics of highly efficient construction companies.

About Eque2

Eque2 provide specialist contract management software solutions to the construction industry.

Leave a Reply

Latest news

Contour Heating

Why it’s essential to have prefabricated cut-outs for hospital radiators - Contour

With hectic environments and hard-working doctors and nurses, it is important that the installation process within hospitals is quick and easy, explains Contour…

Posted in Articles, Building Industry News, Building Services, Facility Management & Building Services, Health & Safety, Heating Systems, Controls and Management, Heating, Ventilation and Air Conditioning - HVAC, Interiors, Plumbing, Retrofit & Renovation

Selectaglaze

Ideal setting for wedding ceremonies made more peaceful with Selectaglaze secondary glazing

Wedding ceremonies have been made more peaceful at Reading Town Hall, following acoustic adaptations from Selectaglaze to block noise from the town centre.

Posted in Acoustics, Noise & Vibration Control, Articles, Building Industry News, Building Products & Structures, Building Services, Case Studies, Glass, Glazing, Restoration & Refurbishment, Retrofit & Renovation, Windows

Freefoam

Freefoam 'the obvious choice' for The Plastik Place

The Plastik Place was set up last year; founders Phil Naylor and Kris Robinson said when it came to setting up their business, Freefoam was ‘the obvious choice’

Posted in Articles, Building Industry News, Building Products & Structures, Cladding, Drainage, Guttering, Soffits & Fascias, Fascias, Restoration & Refurbishment, Retrofit & Renovation, Roofs, Walls

Contour Heating

Installing a DeepClean hospital radiator cover within a live ward - Contour

Installing radiators in a live environment poses unique challenges for the installer, which are amplified in care-cantered environments, such as hospitals, as Contour explain here…

Posted in Articles, Building Industry News, Building Services, Facility Management & Building Services, Health & Safety, Heating Systems, Controls and Management, Heating, Ventilation and Air Conditioning - HVAC, Interiors, Pipes & Fittings, Plumbing