By Rick Grbavac
A recent survey of the construction industry conducted by a large US accounting, tax, and consulting firm had some interesting results:
- 60% of the respondents did not have succession plans
- 30 % participate in joint ventures.
- 57% don’t have in-house training programs
- Change orders continue to be the largest factors in litigations
- 57% have a business plan, 40% have a marketing plan
Nothing here really earth-shattering in these numbers but what caught my eye was in the area of training, as the article states: “With the need for increased training in safety standards and new technologies, training both in best practices and technology emerges as a ‘must have’ for many construction companies. There appears to be need for more improvement in this area.”
I’m fairly certain that these numbers are indicative of most businesses today: no succession plans, many must form alliances with other companies to do business, most need more training, specifically around their best practices to keep up with the changes in their environments and business and marketing plans always need tweaking. And in the construction arena, if they did better planning up front (and used the latest modeling software) they might reduce change order litigation.
Cerebyte takes care of the in-house training and best practices implementations in one step. Let your local construction company know!