Page 101 - Build 161

CONSTRUCTION-RELATED SPENDING IS 13% OF THE
WORLD’S GDP
$
... BUT CONSTRUCTION’S ANNUAL PRODUCTIVITY GROWTH HAS ONLY INCREASED 1%
OVER THE PAST 20 YEARS
measured productivity with comparatively fast growth.
Why productivity matters
An increase in labour productivity would deliver higher value to customers with the same or fewer resources. This would translate into a mix of higher-quality build- ings at lower cost for owners, higher pro t- ability for contractors and higher wages for workers.
Any one or two of these objectives can also be achieved without productivity growth, for instance, squeezing wages or margins to lower costs or raising prices for owners to be able to meet wage requirements. However, all three are required for productivity growth.
High labour productivity often also goes hand in hand with shorter and more reliable schedules.
For more Find the report at www.mckinsey.com/ industries/capital-projects-and-infrastructure.
THE GLOBAL CONSTRUCTION SECTOR HAS A RECORD OF POOR PRODUCTIVITY
$1.6 TRILLION
EXTRA VALUE COULD BE CREATED THROUGH HIGHER PRODUCTIVITY
$
Building on success
WITH BOSTIK’S CONSTRUCTION SEALANTS
Bostik has a smart solution for all your Construction Sealant requirements including:
• Pre-cast and tilt-slab joint sealing • Construction joints • Fire-rated and acoustic penetrations • Seismic movement joints • Solvent-free / Low VOC applications. Visit www.bostik.co.nz or phone 0508 222 272 for more information.
Bostik’s products were used for the construction of The Cloud, a landmark on the Auckland waterfront
Build 161 — August/September 2017 — 99