Construction Risks 2021-2022
An indisputable reality is that construction comes with an overwhelming amount of risk in all areas of its business.
Risk presents itself in construction in many ways. For example, it could result from unorganized manual or digital record-keeping, time-sensitive contracts, competitors, pressure to work faster while reducing cost, health and safety regulations, and so much more.
Avoiding risk is essential in construction, so what do you need to know in 2021-2022 to avoid or limit your risk exposure? Here’s what to expect and how to prepare yourself.
Construction Risks 2021-2022: Pandemic and post-pandemic operations
As new variants of the virus pop up around the globe and vaccinations continue to roll out, it’s clear we are not yet post-pandemic but still very much in the thick of it. COVID-19 is a continual operational risk and an additional stressor on the growing skilled labor shortage. From unsafe working conditions to vaccine mandates, the global pandemic continues to be an area construction must know how to navigate to mitigate risk. Additionally, supply chains still impacted by the pandemic can cause delays and cost overruns for your project.
Companies should utilize COVID safety measures for laborers and encourage open communication with employees to address and avoid any concerns.
Managing and keeping a record of your subcontract workers
Your subcontract worker onboarding and orientations need to be a well-managed process. These are not times for workers to sign paperwork but rather learn about safety and hazards before beginning their work.
Onboarding and orientations serve as an opportunity for your safety teams to relay and enforce your company’s safety plan and message. Without a dedicated process, some workers can fall through the cracks missing information. Are you considering your workers who may not speak English? How about those who can’t hear? How are you enabling them to learn about your safety plan?
In addition to this, your worker onboarding should be organized so that you have immediate access to all worker records, documents, entry logs, and more. Stop-work orders that will arise because of an incident put you at risk for a continued work stoppage. For the most part, these stop-work orders can stand much longer than needed because someone can’t quickly find a worker’s records for the accident investigation.
By moving your records into a digital platform, such as GoContractor, you can lessen these concerns and add a layer of tracking, clarity, and responsibility that can only exist with digitized information.
Data management and cyber-security
As more processes move online and more technology is adopted by the construction industry, many wonder about the security of those tools and their information.
Sure, many ConTech solutions provide more efficiency, reduce costs, and increase safety, but how can you ensure the sensitive or confidential data you collect is stored safely?
A significant risk to be aware of in 2021 and beyond is the security of the digital platforms you choose. Construction companies should educate themselves on how their digital tools are also managing sensitive data.
To reduce this risk, always inquire about how data is stored and protected.