The rate of productivity growth in the construction industry has fallen dramatically behind other sectors.
Between 1947 and 2010, the U.S. agriculture industry had a cumulative productivity growth of 1,510 percent, according to MarketWatch. For the manufacturing industry, it was 76 percent growth, while the construction industry has seen only 6 percent productivity growth over the 63-year time span.
While this presents a major problem for the industry as a whole, it can also be an opportunity for your construction firm to lead within your markets. After all, productivity is directly tied to profits, so strategic productivity improvements can give your business the competitive edge.