Increased year-on-year expenditure in building and construction means the industry is ripe for savvy companies to make significant financial gains, expand business, and capture a greater share of the market. However the power to do so can hinge on having the right systems in place to capitalise on this trend.
Improving performance and reducing costs to achieve these business goals can be revolutionized by a modern, mobile, company Intranet.
The value of the construction industry continues to steadily climb in the US, since a market fall that dipped to around $800B in 2010, to nearly $1,400B to January 2019 (seasonally adjusted), according to Wells Fargo. The Australian market is experiencing even higher year-on-year growth, with BCI Economics predicting an 8.2% increase across the 2018-2019 financial year.
However, in EY’s report, How are engineering and construction companies adapting digital to their businesses?, only “28% of respondents (had) a digital strategy and agenda in place,” despite the fact that effective digitization of traditional systems and workflows could help ease the stress of respondents’ top 5 worries: risk management of construction projects, cost management of projects, safety, acquisition of staff and employees, and scheduling/time management.
How can an Intranet as part of your digital strategy help your construction or building company? Here are 4 good reasons.
When you are working with people remotely, with files transferring back and forth via email, Skype, or simply naming docs “06_08_19_site_report”, errors can occur in handling and working with the wrong version of a file.
When used correctly, a comprehensive document management system can ensure the latest version of every document is available instantly across the company, with historical changes for referral, and search functionality that actually finds what you’re looking for - enhancing productivity.
An intuitive document management system can:
As we mentioned earlier, workplace safety is the 3rd most likely work worry to keep engineering and construction professionals up at night.
The many facets of workplace health and safety (WHS) in construction make it a complex field, more so than in other less physically hazardous industries.
Activities involved in workplace health and safety may involve:
This may include things like:
In construction and building, each project represents a unique set of requirements, teams, assets, and processes.
As we move towards a more connected world, we are regularly dealing with more and more people and companies on a fully remote basis, with interstate and worldwide teams, as well as fully outsourcing or collaborating on function.
By separating each project out at the Intranet level, and developing the right access for people, you can keep all these unique project elements together in the one spot for reference and collaborative work from anywhere - even working collaboratively with external providers, or updating stakeholders of progress updates via extranet functionality.
Having access to all (relevant) project info in the one spot makes working on or keeping up to date with a specific project that much simpler.
An Intranet can be a place where your entire team comes together; to learn about what others are up to, project successes as well as incident reports, learn the latest from upper management, hold remote working groups, and even connect via workplace social media.
According to 2018 research by the Pew Research Center, almost 3 in 4 Americans use Facebook, with over half these users reporting checking the social media app several times a day - plus the average person uses 3 social media platforms.
It’s time to provide digital workplace avenues that mimic personal digital interaction avenues, to cater to our new-found day to day way of life.
With the right corporate culture, and well promoted and encouraged interaction points, you may find staff happier, indulging in incidental (or deliberate) workplace knowledge sharing, and finding them spending more time on your intranet than simply checking their own apps on breaks.
Our mission at CentricMinds is to help businesses just like yours build an Intranet that your employees love to use. You can either DIY a solution with our ready to go software, or have a chat with us about your company’s goals and strategy behind implementing a custom tailored Intranet. We can help put together a solution that gives you the ultimate in functionality and user experience. Take our intranet software for a test drive with our 14-day free trial, or get in touch for customized advice for your construction or building company’s Intranet.