Engaged staff, good subcontractor relations and use of technology steer market share victors
Success in the construction sector is strongly linked to employee engagement, strong relationships with sub-contractors and the use of technology, according to a new survey.
A poll conducted by consultancy CIL among 140 firms, from architects and builders to contractors, found that companies taking market share “consistently reported a more engaged employee base compared to those who are losing ground”.
The survey found that 41% of market share winners described their employees as highly engaged, compared to just 12% in the market share decliners.
Nearly a third (29%) of market share winners said they had loyal subcontractors, compared to 10% in the share decliner category.
And technology-savvy firms also came out on top, with research showing 31% of market share winners reporting onsite processes becoming more efficient, compared to 15% of market share decliners.
Sebastian Chambers, partner and head of the construction and building products practice at CIL, said his firm’s report made it clear that executives and investors needed to take Key Performance Indicators around team engagement seriously, “since it was a crucial success factor”.
“For every initiative around technology, order book, sales pipeline, operations and productivity, there needs to be an equivalent emphasis on recruitment, diversity, career development and retention,” he added.