The coronavirus pandemic has had an enormous impact on companies in all industries. In a recent article for Construction Executive, Scott Cox interviewed the leaders of three large construction companies about what they have learned from the crisis.
Here is a brief overview of the takeaways that the presidents and CEOs of large construction companies cited to the author:
- Companies underwent major adjustments to how the day-to-day processes look.
- The leaders anticipate that the major impact will fall further down the road.
- Their teams quickly adapted to working remotely.
- They had to learn how to comply with new laws.
- The importance of flexibility and nimbleness became very clear.
- The key to staying afloat was planning for a variety of contingencies.
- Having quick access to cash is critical.
- When priorities change, your actions need to change.
- Communicating key information quickly and efficiently is important.
- When communicating changes, including the “why” is helpful to your team.
For a complete look at what the interview subjects had to say, click here to visit Construction Executive.