February 07, 2017/ News
The construction industry is a tremendously dynamic one that is in a constant state of flux. There are internal and external players, with diverse and changing needs, that can have significant impacts on the trajectory of the construction industry. The industry is also sensitive to overall changes in technology, legislation, the economy, tastes and so on. As a small or medium-sized business, it is important to keep abreast of these growing trends and developments as they are crucial for the successful navigation of this ever-changing space, and will allow your business to stay current and competitive. Extending your vision to the next step and beyond will not only help to ensure the longevity of your business in the construction industry but also provide you with a competitive edge.
Here are just a few of the trends that we have compiled.
1 - Increasing Environmental Consciousness
With the environment increasingly becoming a hot topic of conversation, the construction industry has come into the spotlight due to its significant contribution to environmental pollution and damage. In order to combat this, sustainable practices are starting to be widely implemented to help decrease the impact of the built environment on the natural one. Also, the move towards a more environmentally conscious way of constructing buildings has the added benefit of opening your business up to a greater range of project opportunities. More and more people want 'green buildings', and if your business is perceived to be environmentally responsible this may give you the upper hand over a competitor.
2 - Growing Use of Labour Hire Companies
As the nature of work changes and the needs of workers evolve, there has been a notable shift towards the recruitment of workers, via labour hire companies, on a more casual or temporary basis. This can be attributed to workers wanting more flexibility in their work life, and companies being subject to fluctuating demand. Labour hire companies, such as Workfast, work hand in hand with various construction businesses to provide them with the man hours they require to complete the job/demand. This method of recruitment is expected to grow due to how easy and quick it is to receive workers, as well as its cost-effectiveness.
3 - 'Prefab' Construction
Prefabricated construction, aka 'prefab' construction, is the manufacturing of a building off-site, usually in transportable segments, to be assembled on-site. This is usually done to hasten the process and complete the project more efficiently with less waste. This has been a rapidly growing trend overseas and is expected to become a more prominent practice in the Australian construction industry. PrefabAus is Australia's main body for Australia's off-site construction industry and the 'hub for building prefabrication technology and design'. In an interview with Sourceable, Warren McGregor, CEO of PrefabAUS, stated that "prefabrication accounts for approximately three per cent of housing construction in Australia, and with the prefab sector experiencing much faster growth rates than the broader industry, this figure is expected to triple in over the next decade." This quote highlights the exciting potential of prefab construction in Australia.