Covid has deeply affected the construction industry and posed many challenges. Some of the biggest contractors in India have realised the importance of rethinking the old-school ways of construction and adopting technology to overcome these challenges.
Keep reading for,
The New Normal
Construction is a significant global industry, and the recent past of COVID lockdown highlights the urgency to rethink the traditional ways of working. The smallest to the biggest contractors in India are realizing the need to leverage technology to establish a more robust and adaptive work culture. Discussing the significant shift happening now and how it impacts the construction and contracting industry is necessary to sustain our businesses and growth.
The following effects are significant in construction contracting
a. Price fluctuation
b. Labour shortage
c. The decline in non-residential spaces
d. Stark need for adaptive work systems
The road ahead for contractors in India
Contractors have manoeuvred several obstacles on their road to recovery – price volatility, labour shortage, a steep decline in housing demand, and a complete lockdown. Some of the biggest contractors in India have appreciated the importance of switching to construction technology for improved performance and productivity. We need to focus on preparing for the changes and re-evaluating the value chain.
Be strong to absorb change
The construction contractors of India’s rapidly growing economy need to develop means to comply with unprecedented change. Be receptive to new technology, innovative materials, and higher standards for safety and sustainability. Adapting to the changes and innovating the value chain will keep the industry afloat even during volatile industry trends.
Build people-centric teams
People are central to every organisation. It is their talent and skill that sets the company apart from its competitors. Organisations having great cultures attract valuable talent and have lower turnover rates. More commitment to human resources is required to build a workforce and attract a talent pool in construction. The industry needs dedicated digital pathways that will raise excitement about future business models. Nurture talent as an in-house asset that is ready to face future challenges
Community care is not a choice. It is a need.
Switching to green development is the imminent need of the hour. The green concept encompasses environmental responsiveness, resource efficiency, and community and culture sensitivity. Construction companies must fulfil their social responsibilities towards communities and employees to foster strong, more sustainable, and inclusive growth. To keep projects sustainable, contractors must look at alternatives for certain materials based on availability.
Develop flexibility as a trait
Developing facilities, technologies, and specialised skill sets seem to be the pathway to growth in today’s world. Awareness and knowledge will boost the adoption of newer technologies to shape the more productised construction firms. From order booking to project designing, payments, material procurement, and real-time communication – automation could be the major player in the new normal.
Brand presence has a role.
Having a compelling brand with a distinct identity gives a competitive edge. Consumers are loyal to brands that share their beliefs and fulfil their needs. Develop an efficacious brand that serves construction needs and addresses consumer issues. The brand must highlight the product, reliability, service quality, value, delivery time, warranties, and service offerings to stay on top as the biggest contractor in India.
Predict and prepare
Contractors of India need to anticipate and plan for the shifts and review the value chain accordingly. We need innovative strategies to deal with disruptions and defend our core business to ace the new normal.
Everyone, be it construction managers, consultants, or site labourers, must embrace unique transformations in the construction world. The construction industry in India is capable and resilient. It has and will always bounce back when faced with difficulties.
