Staff turnover costs the construction industry thousands of pounds every year; it’s also the most expensive invisible cost that contractors suffer. But how exactly does staff turnover cost the construction industry money? Here we explain in more detail the steps that commonly lead to a high turnover.
Step 1: Low productivity levels
Step 2: Low quality service
Step 3: Missed deadlines
Step 4: Time wasted interviewing
Step 5: Time wasted processing paperwork
Step 6: Time wasted training new employees
Step 7: Poor customer service
Low productivity has a lot to answer for, and being the first step in the chain, we’d recommend this being the step you focus on first. By doing so, you can avoid the subsequent 6 steps from occurring.
How Do I Heighten Productivity Levels?
Contractors face many challenges in the building industry and with so many business practices to consider, from managing deadlines, budgets and contract requirements to keeping staff happy, it’s no wonder contractors find themselves lacking in time and energy. With multiple roles to juggle, thinking of a new way to manage tasks could mean having more time to spend looking after staff, subsequently resulting in improved turnover rates.
New software can benefit construction companies by providing that added functionality, helping to heighten productivity levels and ensure countless deadlines, budgets and contracts are managed effectively. An integrated CRM can help you keep track of prospects, customers and projects all in one go, leading to enhanced customer relationships, it’s just a matter of finding the right software for your business.
What Software Should I Use?
The EQUE2 Construction Suite is provided by one of the country’s leading Construction Industry software developers, with a portfolio of products available, aimed at businesses of all sizes.
What are the Benefits of using the EQUE2 Construction Suite?
- Links with both Sage 50 and Sage 200 so regardless of where your company is now, there is a package to suit your requirements
- Provides real-time visibility of contract information, allowing you to manage budgets and costs effectively while measuring performance against your company’s targets
- Uses the industry standard accounts package and links to a flexible contract costing system, allowing you to report WIP information on a job-to-job basis, analysing profitability per item or by contract as required
- Allows you to interact with the HMRC Gateway to verify new subcontractors, and submit your monthly HMRC CIS returns, saving time and ensuring your contracts stay on track, and in profit
- Handles all kinds of documents (applications, certificates, invoices etc.) specific to the Construction industry, and can deal with both cumulative and non-cumulative transactions as required, coping with CIS on all supplier documents, as well as CITB and retention values
- You can setup your contracts to be as simple or complex as you require – from single line jobs where all costs/revenue are logged together, to contracts with thousands of individual lines
- In addition to the reports available within Eque2 Construction there is also the Intelligent Construct Analysis (ICA) module available as a ‘bolt on’ that allows users direct (read only) access to the SQL Database
- Eque2 Construct is compatible with all current Windows operating systems, and can be successfully installed it in a range of environments from a standalone PC to Hosted/Cloud type environments
How Can EQUE2 Construction Suite Help Manage Staff Turnover?
With new technologies emerging, the way in which businesses within the construction industry operate is changing. Investing in the latest technology means construction companies can gain the support they need to repair weak business practises, with the help of coordinating software.
With help of the EQUE2 Construction Suite you can coordinate your whole business from a single system that links your financials, purchasing, contract costing, payroll and subcontractors, enabling you to simplify business practises and save yourself valuable time.
Inevitably, the EQUE2 Construction Suite provides you with an effective strategy of new technological opportunities allowing you to adopt a planning and budgeting solution that assists in better productivity rates.
The development of such software is helping the construction industry in driving reliable outcomes and improving profit margins, ultimately resulting in better staff turnover rates.