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Positive Impact Of COVID-19 On the Construction Industry

As we head into the latter portion of 2020, we are able to take a comprehensive look on the impact COVID-19 had in a variety of industries. Construction industry professionals—from developers to contractors, HOA Managers, Board of Directors and beyond—faced unprecedented hurdles as a result of stay-at-home mandates and other COVID-19 regulations.

Closed borders and warehouses caused breaks in the supply chain that were a huge disruption and set construction timelines back weeks to months. Customer relations were strained because of these delays that no one wanted. Alternatively, projects were cancelled altogether because customers no longer had funds to move forward with new builds or renovations. Further, on top of travel restrictions and quarantine, the industry was challenged to adapt to evolving COVID-19 regulations at a moment’s notice.

That being said, COVID-19 has pushed the construction industry forward and has displayed unexpected positive impacts.

Improved Communication Between Construction Companies and Clients

Right at the onset of COVID-19, builders, developers, contractors, etc. flooded their clients with messaging on how they were managing the crisis. The successful ones provided clear and relevant information on what the company was doing to address safety precautions, what a foreseeable timeline looked like and more to help ease the mind of clients.

Construction companies stepped off site and considered its customer’s needs more than ever before. In a time of uncertainty, construction professionals had the opportunity to be their clients biggest advocate, and it did not go unnoticed.

Creative & Collaborative Thinking In A Legacy Industry

Construction is a legacy industry. It’s been around for a long time.  Of course, builders stepped it up from prehistoric animal bones and axes. Construction practices have been refined over time, but overall, it’s an industry resistant to innovative ideas.

COVID-19 forced the industry to step outside of the box and think creatively. Companies like  Cornerstone Managing Partners, that prioritize a holistic approach to each construction project are able to step up quicker for its clients. Embrace a practice that combines resources and expertise from property management companies, HOA’s and building owners in order to provide out of the box and problem-solving tactics that work.

It is also important for our peers to do the same and look outside of their usual circle. In these trying times, there is no shining star. We can all learn from each other and lean on each other for support and guidance. 

Improved Relationships Between Industry Peers

From subcontractors to material suppliers, relationships in the construction industry make the world go round. These ties will make or break your business and have a significant influence on your quality of work. COVID-19 presented unique opportunities to open new lines of communication between industry peers.

A global pandemic builds a strong common ground across the industry. We were all facing the same challenge—how do we operate in these new circumstances?

Speaking with other building firms, contractors and suppliers allowed for open conversation around new safety protocols, jobsite technology, remote work, legal protections, insurance implications and more. Conversations like these made room for collaboration and partnerships that allowed all parties to reach—or rather, transform—its goals and find a semblance of comfort in turbulent times.

Suffice to say, the construction industry—along with all others—has been altered today, tomorrow and beyond. While there are challenges and tribulations, there are also opportunities for growth, success, and positive impact.

Source - ThriveGlobal.com

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