Construction is an industry that can feature razor-thin margins and return on investment (ROI) is often a topic of discussion among industry professionals. As projects become more complex and the skilled labor pool shrinking every year, finding ways to increase profits and minimize costs becomes increasingly important to survive as a business. Essentially, finding ways to accomplish more with less is something industry professionals struggle with daily.
One area that may hold promise for many construction businesses is leveraging technology to get more from your job site monitoring solution. One important area where your job site monitoring solution is a great return on investment is worker safety.
Safety Is Job One
Accidents are expensive and a construction site can be hazardous areas even in perfect conditions. According to the Occupational Safety and Health Administration, about 20% (1,061) of worker fatalities in private industry in the calendar year 2019 were in construction – accounting for one in five worker deaths for the year. Making sure your construction staff has safe working conditions and risk is minimized on a construction site should be the primary goal of any safety program.
To develop and measure the ROI of any safety program, leveraging the power of your chosen job site monitoring solution to identify areas with increased risk to worker safety is essential. By finding these troublesome areas before they happen will save you money in the long run. You’ll see the ROI through:
Lost Man Hours: Aside from seeing your coworkers in pain, injuries result in losing man-hours that need to be made up by the whole crew. While some construction executives do not understand how job site safety translates into cost savings, explaining that missing workers means missing deadlines or increasing overhead usually works far better for “bottom-line” mentalities.
Lower Insurance Costs: Justifying the ROI of a solid job site monitoring solution begins with pointing to decreased insurance costs and worker’s compensation payouts. The National Safety Council points out that for every dollar indirect cost, indirect costs are as high as $2.12 due to workplace injuries. The safer your construction job site, the lower expenditures associated with insurance costs.
Production Equals Profit: It is no secret that keeping your staff safe, and morale high keeps your workforce engaged, which increases productivity, which in turn impacts profitability. A Forbes and Gallup poll, engaged workers show up to 21% greater profitability. Your job site monitoring solution is a great way to develop a culture of safety on your worksite, but within your entire staff as well.
Of course, choosing the right job site monitoring solution can have an even greater impact on your bottom line in other areas including security, inventory management, and scheduling. Construction site monitoring solutions like SiteKick can help you increase security, know where all your assets, tools, and even workers are on the construction site, and tell you before you arrive on the job site whether conditions are too dangerous to work that day.
If you’re ready to explore how SiteKick can help you do more with less, give us a call to schedule an informative demonstration of everything our job site monitoring solution can do for you. Let’s build a better future together!