Funding to Support Better Business Performance in Specialist Trades
23 June 2021
The Construction Sector Accord announced yesterday funding for the development of a benchmarking scheme to improve business performance for construction specialist trades. This is part of the Accords work to lift business performance in the construction and infrastructure sector.
Master Builders will be taking the lead in the development of these new measures, which will be based on similar work recently done by the Vertical Construction Leaders Group, who developed a range of financial, operational, and commercial metrics for lead contractors in the vertical construction sector.
We see real benefit to the sector from this initiative. It is in all our interests to have a strong, well performing sub-contracting sector. The business performance metrics framework will allow sub-contractors to benchmark themselves against their peers and identify opportunities to become higher performing, and more resilient businesses. The development phase of the project is scheduled for completion in November 2021.
We are keen to look at doing something like this for the residential building sector. I will be discussing this with Branch Presidents over the coming weeks to see if there is an appetite to develop a similar benchmarking scheme for lead residential builders.
Read the Construction Sector Accord Media Release here