The top 5 essential construction KPIs for business success
Running a construction business means keeping employees well-trained, safe and engaged in their jobs. With such a large volume of risk factors, with projects and workers alike, coupled with substantial upfront capital requirements, it is important to have a grip on these core construction KPIs.
1. Staff training: Having skilled people working for you will make a big difference. If you need to, invest some time and money into training, was it will help employees feel valued. You’d also save money in the long run as a valued employee will likely stick with you.
2. Average revenue per hour worked: Managing your staff’s time effectively equates to profitability. You’ll be able to identify the most profitable jobs that are offered to you, therefore working smarter rather than harder.
3. Health and safety accident/incident rate: Minimising your accident rate is one of the most important things you should do. Are staff aware of health and safety regulations? Calculate this regularly and in comparison to other projects.
4. Time and cost rate: Ideally, this rate will be low. Tracking this KPI will help you to better predict the length of time and how much cost will occur for the next job(s). In turn, allowing you to put together more accurate quotes for clients.
5. Waste per job: Working with so many different materials will inevitably cause some waste. It’s your job to control how much there is. Be it an issue with staff, or a machine not working to its optimum, identify the source of the problem and act accordingly.
Visit our KPI Library – the place to find industry-specific metrics so you can invest your time in measuring what matters.
Learn to calculate your revenue per hour worked here.
Calculate your accident incident rate here.