Despite obstacles and restrictions since the beginning of the year, some companies have shown that it is possible to achieve success by tackling the obstacles head-on and in the right way.
Construction industry leaders have accepted the challenge and defied the predicted downturn that 2020 has posed to all organizations by effectively utilizing their efficient subcontractors and streamlining their operations.
Hudson Contract made a total of 117,591 payments to freelance operatives in August, compared to a peak of 149,067 in February and a trough of 80,625 in April. It represents nearly 80% of pre-lockdown capacity, according to the biggest payer of subcontractors in the sector.
Managing director Ian Anfield said that the bounce-back pointed to a V-shaped recovery for the UK construction sector.
“There is no shortage of work for highly skilled tradespeople, whether they are groundworkers, bricklayers, plasterers or plumbers,” he said. “Building sites are becoming more productive per head and the quality of work is improving because they only have the best lads working on them.
Overall, average weekly earnings for subcontractors slipped by 1.3% to £877 during the month of August, a similar drop to last year’s holiday season.
Another company that has excelled during the pandemic and set for record profit despite Covid-19 is the Engineering and rail contractor Renew, who have overcome the impacts of Covid-19. They are projecting record profits for the year to September.
Far away from the market expectations Renew forecast profits between £39m-£40m. Paul Scott, CEO said that the improved performance reflected the resilience of its key markets and the implementation of numerous mitigation measures that proved to be effective in response to a challenging time.
Companies that plan in advance can deal with storms and what a storm has been COVID-19 in 2020. At the same time, storms don’t last forever and it is necessary for companies to mitigate the impact by putting their house in order, making the most of this time of uncertainty.
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www.theconstructionindex.co.uk. (n.d.). 80% of subcontract labour is now back on sites. [online] Available at: https://www.theconstructionindex.co.uk/news/view/80-of-subcontract-labour-is-now-back-on-sites [Accessed 17 Sep. 2020].
Construction Enquirer News. (2020). Renew set for record profit despite Covid-19. [online] Available at: https://www.constructionenquirer.com/2020/09/04/renew-set-for-record-profit-despite-covid-19/ [Accessed 23 Sep. 2020].