Small construction firms play a vital role in the wider business economy. They can bid for contracts on residential work and smaller commercial projects whilst also being able to support larger projects if they specialize in a particular area of construction.
At present, the construction industry is enjoying a period of growth that is expected to be sustained into the next decade. In India, the CAGR of the wider construction sector is expected to grow at a rate of 6% up to 2028. This growth helps to support smaller and emerging construction firms by providing an increasing demand for key construction services.
If you own a small construction company, you will want to ensure that its daily operations function effectively and support the ongoing growth and development of the firm. In this article, two top tips will be described that will support the smooth functioning of your business.
Ensure you have access to spare parts
Every construction firm relies on a range of specialist equipment and vehicles to support the tasks that are undertaken. For example, most small construction firms will have their own forklift truck to facilitate the movement of heavy construction materials and for loading and unloading tasks. However, forklift vehicles are subject to ongoing heavy usage, and with any construction vehicle, their component parts can degrade over time.
It is vitally important to have access to replacement parts so that lifting work can continue without significant delays when maintenance and repair work is needed on the vehicles. Komatsu forklift parts are available for a wide range of forklift vehicles produced by this manufacturer, which are heavily used in the construction industry. It is therefore important to have the contact details of the supplier when you need new parts for such equipment. Ideally, the supplier will be able to ship replacement parts on a same-day basis to minimize any disruption to the work that can be undertaken. This will ensure that there are no significant delays or disruptions to the work that is required.
Retain a skilled workforce
The need for a skilled workforce is vital in the construction industry. It allows more complex construction projects to be undertaken and helps to ensure that all construction work is completed to the highest possible standards. However, every small construction firm needs to take steps to retain its skilled workforce.
Firms that have a high turnover of employees may create a culture of low morale, reduced productivity and poor performance. This can lead to a lower quality of construction work being undertaken that may damage the firms reputation over time and can lead to a reduction in long-term profitability.
Skilled construction staff can be retained effectively by ensuring that their wages are competitive in the industry (and ideally slightly higher than in competing construction firms). In addition, comprehensive training should be rolled out to all construction staff to ensure that the latest working methods are used, and the highest quality of results are achieved.
Skilled staff should have the opportunity to progress to more senior or specialist roles within the firm, as by providing clear avenues to promotion, workers will be able to develop their own career path within the company and will be more likely to remain loyal to the firm for a longer period.