The construction industry is volatile, with only 47 percent of companies lasting four years. While countless construction companies close their doors, others get bigger and stronger by the year. This has nothing to do with luck. The most successful companies share some traits that allow them to make money, even during economic downturns. Find out what traits these companies share and incorporate them into your own business.

1. Adaptability 

Top construction companies understand that adapting is part of the business. The contractors at these companies plan for each project while still understanding that unknowns can creep up at any time. Common variables include weather conditions and unmarked underground utilities, but anything can happen on a jobsite. The scope of the project can even change. The ability to adapt to change can turn a good construction company into a great one.

2. Commitment to Safety

The top construction companies do more than put up safety signs and use personal protective equipment. While that’s important, the best companies make safety a part of the culture. When safety is part of the culture, employees understand that following safety protocols is more important than efficiency. To make safety part of the culture, companies must embrace constant training, collaboration, and transparency, while also providing the best gear possible.

3. Embrace Technnology

Technology has changed the way companies in various industries conduct business. That includes the construction industry. Industry leaders have adopted technology to help them complete jobs. GPS technology allows companies to track employees, technicians, or equipment on jobsites. This cuts down on the time they spend looking for pieces of equipment, making them more efficient.

Industry leaders have also embraced drones to help them on jobsites. They use drones to survey land, surveil jobsites, improve safety, and more. Many believe that construction companies have only begun to see what drones can do for the industry. In the future, they could play an even larger role.

Leading companies have gone beyond implementing new technology and have also created new roles. Some of the most successful construction companies now have construction technologists on the payroll. Construction technologists empower employees by training them to use the different software solutions and tools that are now available.

Keep reading this blog and learn more about Jonas Construction Software