The construction sector has undergone many shifts in recent years. Progress has sometimes been seamless and at other moments seemed hard fought – but it has been made. As a result, the construction industry looks quite different today. Key developments in technology have enabled huge leaps forward to be taken in terms of everything, from collaboration to visual designs but this is not the only factor that has affected the way the construction sector looks and feels. There have been a number of other changes and influences that have also had an impact on the way the construction industry is developing and triggered opportunities to create better change – diversity, in particular, has been vital.
Diverse construction management outperform competitors
Diversity means that a workforce is being informed by a variety of different points of view and the experience of different lives and backgrounds. The impact of this has been vastly underestimated in the past but recent studies have identified key positive benefits – one recent study found that diverse businesses were 33% more likely to outperform competitors and organisations with diverse boards more than 40% likely to see higher profits. Diversity in the construction sector has been historically problematic, especially when it comes to bringing more women into the construction industry. Aside from the lack of understanding of the positive benefits of doing this there have been other obstacles, from roles that are too inflexible to discrimination fears. This situation is gradually starting to shift as progress in the construction industry continues to drive positive change. It’s not just with respect to gender that there has been movement but on the base of racial diversity too. In the coming years the sector is primed for a huge shift towards more racially and culturally diverse teams informing broader perspectives and a more energised and open approach.
A focus on innovation in construction management
Innovation is a big factor in progress and something that is valued right across the sector. Here, too, the degree to which organisations prioritise diversity could have a big impact. One Harvard Business Review article found that those businesses with a more diverse workforce than average achieve 19% larger innovation revenues. Plus, there is evidence that management that is more diverse makes better decisions almost 90% of the time. Diversity encourages the exploration and sharing of new ideas and is much more likely to bring younger generations into the sector. Attracting greater diversity and younger workforces goes on to drive the use of technology and ever more innovative automated solutions that push the construction sector towards even higher points of progress. Where the groundwork for diversity has been laid it can become a positive self-perpetuating cycle that continues to generate positive change, not just for individual enterprises but for the sector as a whole.
Progress in the construction sector takes many forms today and all of it is helping to create positive change. Working towards more diverse workforces that have a better balance of influences and ideas is one way not only to improve day-to-day working experiences but also to see improvements in financial and innovation outcomes too.
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