Propelled by smart and connected technology, sustainability, and smart cities, the future of the construction industry is looking more innovative than ever. 

But as with all trends, the companies that are able to anticipate and respond the fastest will pull 

And in an era where clients increasingly expect 

1. Increased pressure to deliver profitable jobs. 

While the industry is growing, labor shortages and increased costs in materials and wages are adding more pressure to the bottom line. In 2024, more than ever before, construction companies need to focus on delivering profitable jobs.

To combat this, businesses must take every opportunity to lower outgoings. For some, this may be negotiating with long-term suppliers or exploring whether you can rent equipment rather than outright purchase it. 

You can also reduce in-office costs by hiring a virtual answering service to manage client bookings and customer service. These teams can answer your calls 24/7 and sometimes offer a bilingual service. In some cases, this can be more cost-effective than hiring additional internal team members. 

Three things you can do today to improve profitability:

  • Look at your scheduling: Are your projects working optimally or could you be doing parts of some while waiting on others?
  • Assess material costs: Can you get a better deal from a supplier or combine multiple projects into one purchase?
  • Capture lead more efficiently: Look at customer journey to see where you can capture more leads so you can focus on the best jobs.

But it’s not all bad news. With all of these challenges come a wealth of opportunities. If you embrace a future-facing mentality, you’ll be able to confront these challenges and harness the opportunity for growth.

answer more calls, win more business

2. The evolution of smart cities is changing the way we build 

Smart cities use connected technologies and IoT to improve everything from infrastructure to safety. From efficient city lighting that dims when not in use, to water sensors that can monitor flooding risks, smart cities are creating new opportunities for construction professionals and better places to live for residents. 

This means that construction professionals need to embrace the new technologies that come with creating smart construction sites. From learning new systems such as becoming more familiar with 3D modeling, to hiring candidates with specialized skills and training, construction companies must be ready to evolve.

  • Embrace continuous learning: Create a culture of learning in your organization so people can embrace new technologies, and you never know, they might surprise you with new opportunities.
  • Hire and train with a long-term perspective: When hiring, it’s easy to ‘fill the gaps’. But to truly thrive, you must look to the future as well. Consider, what skills will you need and where are people learning these skills.
  • Start building your network: Be open to interesting partnerships with local businesses or innovative new technologies – take some risks and see where you find rewards.

3. Sustainability will continue to be a key focus for the construction industry.

Research conducted by Bimhow shows that the construction sector contributes to 23% of air pollution and 50% of landfill waste. As well as this, there’s evidence that the construction industry has a huge impact on wildlife, and water pollution and the potential to increase the impact of climate change. With this in mind, the construction industry has been taking steps over the past few years to reduce its carbon footprint and improve sustainable efforts. 

In 2024, you can expect to see sustainability become the norm rather than an exception. Green construction materials such as recycled plastics, bio-waste materials and Engineered Cementitious Composite (ECC) will become more common.

In addition to this, we’ll continue to see a rise in solar panels and smart grids that can lower energy consumption. By incorporating these materials into projects, you can be ahead of the curve in this new era of environmentally responsible construction.

But what does that mean for you?

1. Implement Sustainable Building Practices

  • Source eco-friendly materials: Opt for materials that are sustainable, recycled, or have a low environmental impact. Examples include bamboo, recycled steel, and reclaimed wood.
  • Embrace energy-efficient design: Incorporate designs that maximize natural light, use energy-efficient HVAC systems, and incorporate renewable energy sources such as solar panels.
  • Gain green certifications: Aim for certifications like LEED (Leadership in Energy and Environmental Design), which provide guidelines and standards for sustainable construction.

2. Reduce Waste and Emissions

  • Practice efficient waste management: Develop comprehensive waste management plans to reduce, reuse, and recycle construction waste. This can include using on-site sorting systems and partnering with recycling facilities.
  • Invest in low-emission machinery: Invest in or lease machinery and vehicles that have lower emissions, such as electric or hybrid models.
  • Practice efficient resource use: Optimize how you use materials and resources with precise planning and construction techniques like prefabrication, which reduces waste.

3. Promote Eco-friendly Work Practices

  • Sustainable procurement: Source materials and services from suppliers that prioritize sustainability and ethical practices.
  • Invest in training and education: Provide ongoing training for employees on eco-friendly practices and the importance of sustainability in construction.
  • Implement Environmental Management Systems (EMS): Consider instituting EMS to continuously monitor and improve environmental performance. This can include regular audits and setting measurable environmental goals.

By integrating these strategies, construction companies can significantly reduce their environmental impact and contribute to more sustainable development.

4. A changing workforce means new talent is essential

While the shortage of qualified construction workers across the US is nothing new, more and more businesses are starting to feel the impact. In 2022, an Associated General Contractors of America survey found that 91% of firms are having trouble staffing their projects. Less staff on projects can compromise both safety and quality.

How do you grow your workforce to account for the changing demographics of the construction industry? Here are three things you can do today to keep staffing levels high:

  • Invest in your current team: Construction workers are in high demand. That means your staff are incredibly valuable. Taking the time to reward and recognize success can go a long way in retaining your employees. Offering both new and experienced employees opportunities for growth will help you retain the talent you have, whilst growing the next generation of the construction industry.
  • Consider generational changes: Look at different generations in your team and what they’re looking for in their work – it’s not the same for everyone.
  • Consider future skillsets you can start training your team for now: Look at the skills you’ll need in the future rather than only filling ‘gaps’ as they appear.

5. Streamline your marketing and lead intake

One of the biggest challenges in business is clearly communicating expectations and deliverables. That means you need to prioritize keeping your communication clear and simplifying your lead qualification process.

That means:

  • Reviewing your marketing materials: Take a look at your website and consider how well it communicates what you do, where you operate, and. Then make sure to include clear clear calls to action throughout so leads know what to do next.
  • Being available 24/7: In the 24/7 world of business, leads expect to be able to reach you day or night. That means you must be ready to respond when enquiries come in (through calls, or calling back website inquiries). Remember, the odds of qualifying a lead drop by as much as 80% within five minutes of not receiving an answer.
  • Streamline your sales funnel: How simple is the customer journey for your clients? Just as importantly, how easy is it for your team to capture and qualify leads? You need clear processes to capture and qualify leads to keep your sales process efficient and maximize the types of jobs you’re looking for. Remember, not all leads are created equal; don’t waste your time pursuing leads who won’t convert/are looking for something you don’t offer.

Embrace industry trends to

2024 will inevitably bring new challenges to the industry overall. But, looking at these construction market trends, we can see the influence of smart technology, new approaches to safety, and a desire to reduce the industry’s overall carbon footprint. As your construction business upskills in new technologies, you may need additional support to grow your brand. 

AnswerForce offers a virtual answering service that takes the stress out of scheduling, improves customer service satisfaction, and offers 24-hour access to a friendly voice for your clients. Learn more about how we can help grow your construction business here.