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Running a Construction Company with Reddy Kancharla
Reddy Kancharla is an experienced engineer in the construction industry. He's been around fellow engineers and construction sites for a long time and knows that the construction industry is always changing. New challenges arise every day, requiring new solutions to overcome them. Today, Reddy Kancharla shares some of his insights regarding construction management, including several important considerations to keep in mind.
Finding Quality Workers
The first thing you have to realize when running a construction company is that you'll have to find a way to overcome the current labor shortage across the industry. According to Reddy Kancharla, an increasing number of construction companies can no longer find skilled workers. Indeed, engineers and other construction professionals are in short supply. In fact, recent studies in the U.S. have shown that the percentage of millennials with skills suited for construction is significantly lower than that of the previous generation.
Dealing With Competition
Before starting a construction company, it's important to consider the steep competition from large existing companies. Though competition is a challenge for businesses across industries, the Construction Owners Association of America has recorded a decrease in profits for construction companies over the long term, making construction particularly competitive. In addition, there is also an overall decrease in labor productivity in the field. The result is two issues that must be overcome to grow your company over the long haul.
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Lastly, Reddy Kancharla indicates the importance of sustainability in the construction industry. Very few industries consume as many raw materials as construction. Though green construction is being promoted in several states, the challenge is getting more construction companies involved. Kancharla notes the difficulty of this undertaking. Green construction is more expensive, even though it is more environmentally friendly.
What else do you want to know about running a construction company? Ask Reddy Kancharla in the comments below.
Reddy Kancharla has acquired extensive knowledge of engineering theories, principles, and practical solutions to engineering problems relating to civil engineering and the construction industry. For more civil engineering updates, follow this page.
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