As the world begins to return to a sense of normalcy, many are wondering exactly what that is going to look like. Despite many industries opening back up to full capacity, there are still heavy restrictions that must be followed in most places. Due to these rules and regulations, some industries are finding it difficult to bounce back right away.
It is not just the restriction issues that are plaguing many businesses. There are a variety of other side effects from the COVID-19 pandemic that are stunting the regrowth of quite a few industries. For example, the material and labor shortages have dramatically impacted manufacturing industries.
The inability of many manufacturing companies to acquire the necessary materials needed to make their products has created a huge shift in the demand for products, thus halting certain businesses in their projects that rely on these specific products. One of the industries that have been hit the hardest by this predicament, is the construction industry.
It seems as though no matter what is going on in the world, there is always something that needs to be built. Even through this crisis, when everything else was shut down, medical facilities needed to be built or remodeled. Additionally, as the quarantine period continued, the demand extended into the commercial and residential realm as well.
The commercial industry started looking at properties outside of heavily populated areas to relocate their businesses in the hopes that it would offer them more protection from this virus and any subsequent incidence in the future. Not long after, the residential population started following the same trend. Unfortunately, just as projects started filling up the construction industry’s pipeline, then came the news of material shortages and skyrocketing costs. This revelation switched the influx of projects down from a boom to a trickle.
However, this lull in projects does not necessarily have to be considered a loss for the construction industry. Especially when we focus on the residential contracting sector of the industry. There are ways that businesses can utilize this time to improve upon their company from the within, thus, preparing them to be on top of their game when the floodgates of projects inevitably open back up.
Here are some tips that businesses could use to enhance their organization during this downtime.
Smaller Project Focus
Since so many people are spending more time at home these days, the desire to remodel has become a popular trend. Even with the supply shortages and price increases, there is still a large demand for remodels. This is great for residential contractors. While it might not be the big-ticket builds that they prefer, it is a good way to keep money coming in and add future potential customers to their portfolio.
Continuing Education
One way that businesses can use this lull in productivity wisely, would be by ensuring everyone is keeping up with their continuing education. Many states require it yearly or every two years in order to renew a contractor’s license. Instead of waiting until it expires and risking putting a project on hold, make sure that your company as well as your individual contractors are up to date with their classes and renewals.
Equipment Overhaul
How often does a business have the downtime to properly have their equipment inspected? If you are a business that consistently has steady work, then I would assume not often. However, if you have the time, it would seem beneficial to do an overhaul of your equipment. Make sure that the equipment you rely on to complete the big profitable jobs is in pristine shape before you stake your company’s reputation on how well they perform.
Social Awareness
Unfortunately, right now you are not out in the public eye working on projects and letting your equipment and employees do the advertising for you. So it is important that you find other ways to keep your brand fresh in the mind of your customers.
Learn to master social media. Post about any projects that you are currently doing so that everyone knows you are still around. Do a small blog with pictures about past impressive projects so you can showcase what you are capable of. Also, give a shout-out to some customers that appreciate your work. It will make them feel good and they will most likely comment, thus giving you those needed testimonials without even asking.
Employee Care
Remember that even though this is a difficult time that your company is going through, you are not the only one suffering. Spend some time making sure that your employees are remaining positive during this time. Encourage staff meetings in safe spaces so that you can evaluate the attitudes of your employees. Try to do things like encourage their continuing education, or give incentives to become qualified on manufacturer’s products. This type of personal involvement in their lives will not only boost their confidence but also ensure their loyalty to the company as business picks back up.
No one can be sure how long these supply shortages will affect the industry. So it would be wise to be ready. Hopefully, you find these tips useful, and with a little revamping and preparedness, you will have a well-tuned and healthy workforce eager to conquer whatever task is put before them.
