For publication in Specify Magazine, October 2021
Employee Ownership Increasing:
There has been a notable increase in employee ownership among construction industry companies. I notice that London-based Readie Construction has become the latest construction company to switch to employee ownership. The move came after Readie’s shareholders sold all shares to an Employee Ownership Trust (EOT). An EOT will allow Readie to pay all eligible employees tax-free bonuses of up to £3,600 a year. Likewise, Glasgow-based Pacific Building recently became employee-owned. The deal saw 55 workers become joint owners of the business. Closer to home, White Ink architectural practice in Belfast has become the first Northern Ireland-based consultancy to make the move to employee ownership. Its owners have sold their entire shareholding to an EOT, which will manage 100% of the company shares on behalf of its employees.
Digital Marketing:
The importance of digital marketing is ever-increasing. I see the CITB NI is continuing to run events to help companies increase their ability to market online using platforms such as Canva. There are some quick wins that every company should not overlook. As a start, ‘claim’ your business listing on Google, then:
Confirm opening hours.
Post news article links from your company website to your Google Business profile.
Add a logo and some images to portray your company.
Check that the telephone number and email provided is correct.
Monitor customer reviews as this is what your potential customers will be reading about you!
Noteworthy News:
An interesting statistic is that Walls Construction currently has 40 Tower Cranes in Dublin. That’s a very impressive order book for the Dublin-based contractor.
Banbridge-based Kane seems to be going from strength to strength. The specialist services contractor successfully executed a £12m contract to install new services in the renowned five-star Claridge's Hotel in London’s Mayfair district. The contract included the design, prefabrication and installation of services five floors below ground level. Kane has recently also secured a £29m contract with Balfour Beatty.
An ongoing issue remains the skills shortage. Many companies are reporting that there is a lack of people to fill management and trade roles. Estimators, Quantity Surveyors, bricklayers and Finishing Foremen remain in big demand. So much work needs to be done on this. I think the STEM Ambassador Programme is a great initiative. This enables people to volunteer their time to go into schools and help showcase the construction industry to young people.
The Chartered Institute of Building (CIOB) is hosting a Graduation event at Queen’s University in Belfast on Saturday 20th November 2021. People who were awarded Chartered or Fellowship membership are eligible to attend. This will be the first Graduation event the CIOB has hosted in Belfast in over two years. Places can still be booked. Click here to enquire.
‘EDI’ is the new term in town. It stands for equity, diversity, and inclusion. Increasingly more companies are developing their own EDI Policy Statement to demonstrate their commitment to building an inclusive, varied workplace which is welcoming to people of all backgrounds. I also see that the Constructionline website has been updated to allow companies to demonstrate how they address social value within their business practices. For companies registered on Constructionline, I recommend visiting this as part of a regular review.
Availability of Grants and Support:
There are many grant opportunities that companies either are not aware of or not availing of. I recently applied for a ‘Trade Accelerator Grant’ on behalf of a construction company to help them with a programme of marketing activities. The process was relatively simple. It resulted in a 50% grant offer. This is a great facility which many companies are eligible for. InterTradeIreland also has a very attractive service-offering to help construction industry companies including specialist subcontractors with marketing and tender support.
Materials Price Rises:
The current material price rises is continuing to present difficulties in all stages of the construction process. The Construction Employers Federation (CEF) is doing a lot of good work locally in trying to facilitate a mechanism to alleviate the pressure on public sector projects. I see the Construction Leadership Council has warned that firms should be prepared for further material shortages and longer delays. Planning is critical to ensure that material price escalation does not jeopardise the construction-led recovery in the coming months.
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