July 1, 2022

The Real Cost of Time Lost

How reclaiming 5 minutes of time can increase your profits by up to 6%

We all know Geico’s famous tagline, “15 minutes could save you 15% or more on car insurance.” We’re not trying to sell you car insurance, but we do want you to know that saving just five minutes of workers’ time could mean an increased profit margin of 6% per job. You read that right.

Stoppages on the job site that take five minutes (sometimes more!) happen all of the time, like:

  • Your front-line workers stop work, walk to a huddle to hear an update and walk back to return to work.
  • The parking arrangement changed and the team had to figure out the new location or move their cars.
  • A worker has a question about the task at hand and needs to track down the site manager.
  • A crew waits for replenishment of materials or products because no one informed management that they were running low.
  • A manager explains the job site layout to a new crew member who showed up for the day.

Let’s see a show of hands if these have happened on your project recently.

Five minutes per day per worker could be the difference between ending your project on time and needing an extension, potentially costing you your reputation. The proof is in the pudding — err, the math. See for yourself:

Small disturbances will inevitably pop up and take your team away from the job at hand, but they can combine into valuable time lost. Check out three ways to limit these work stoppages (and impact the bottom line) below:

1. Send real-time notifications

No more word of mouth or games of telephone. Today you can send notifications as soon as job site changes occur, helping your team pivot and adapt to get results.

From the concrete pourer who shows up for three hours at 2 a.m. to the CEO who works night and day, everybody deserves the same opportunity to know what’s going on around them. Incorporating construction communication technology into your job ensures every contractor knows exactly what has changed and can better navigate and plan for the rest of their day on the job without unnecessary stoppages.

Front-line workers will also feel empowered to continue the job at hand when less interruptions occur.

2. Provide training refreshers when the team needs it

According to the availability heuristic, people are likely to make decisions based on the information they remember, not necessarily what is correct.

Your team is juggling a lot of information at once, so sharing quick, two-minute videos reminding them of your safety and quality expectations right before they start a new project will cut down on time potentially wasted if there is a need to re-do work or worse, if there’s a serious injury on site.

This will also help keep information consistent from worker to worker, and they can better support one another while working on tasks. Your team will be glad to know that expectations are clearly laid out and they can feel better prepared for their day ahead, keeping you on track and your team engaged and prepared for what’s to come.

3. Incorporate two-way communication for quick discussions

Sometimes a dialogue is necessary to plan out next steps among a team. Sharing updates through a two-way chat feature reduces time spent going back and forth between physical, in-person huddles and back to the task.

It’s also a quicker way to notify the team that the message has been received and is understood. If a worker has questions, they have the power to reach out to management through the two-way communication feature.  

Incorporating a new tool to support in-the-moment communication and training may take some time up front to roll out and train, but the cost savings and increase in profit in the long run could mean additional jobs and revenue for your team. After all, time is money.

Reach out to us to learn more about how MindForge can improve your job site communication and increase your profit margin.

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