How Briq solves labor problems at every level

The construction industry faces many challenges when it comes to labor. Not only is labor one of the greatest costs on any given project, but it also isn’t always easy to secure. The industry as whole faces rising costs and diminishing availability of skilled workers. Whether it’s team members on the field, front office, or back office, securing labor is becoming increasingly difficult for businesses. That’s why construction companies are turning to Briq to help them take on these challenges.

Briq is a financial automation platform that leverages cutting-edge technology alongside decades of construction insight to help address key business needs. With Briq, companies can attract and retain top talent, forecast labor, manage staffing across projects, and scale their teams to meet the needs of the industry. There’s finally a way for companies to proactively address labor challenges and weather market changes. Let’s go over how Briq solves the labor problem at every level.

Forecast your labor needs

Forecasts act as the backbone of the construction industry. They allow businesses to predict changes in revenue, cash flow, and project conditions well before they occur. This keeps companies equipped with data-backed plans to protect projects against potential fee erosion or delays. We all recognize the value of a good revenue forecast. Now, it’s time to extend that view to labor as well.

Briq creates fully automated labor forecasts for construction companies. Our financial automation assists businesses in planning for different scenarios, measuring costs, and ensuring every project has the right staff at the right time. Thanks to Briq, your teams won’t have to worry about a sudden need to hire additional personnel or finding themselves understaffed at a critical point in the project. Instead, your business can put the right hiring initiatives into place early on, so that your teams always have the support they need.

Scale your teams with automation

Construction finance has many work bottlenecks. A human can only enter so many numbers into a spreadsheet at once. Adding more work means increasing the chances of a catastrophic spreadsheet error and turnover. This leaves construction companies in a precarious position. They need to strike a balance between pushing their teams to succeed and hiring additional personnel to help get the job done. If you lean too much in either direction, the consequences can get expensive and create operational problems. However, there’s a way to solve this problem by using a third option.

Briq offers financial automation tools that allow construction companies to take on more work without burdening their teams or losing profit to overstaffing. Financial automation takes care of the mundane, repetitive tasks on behalf of your employees so they can focus on value-added analytical tasks. It can move data from software into workbooks, and automatically sort all of your business's financial information from forecasts to billing. This increases the value of each employee, empowers them in their work, and makes your business more scalable than ever before, all while addressing labor concerns. Using Briq, a small team can rise to big demands with the power of financial automation backing their efforts.

Attract the next generation of labor

The times are changing. The new wave of workers entering the market is more tech-savvy than ever. Financial professionals starting their careers today have been trained to use the latest software, and think of accounting through a digital framework. To them, organized workspaces have nothing to do with filing cabinets or manilla folders. Instead, they think of a clean desktop with neatly sorted tabs and a virtual Rolodex of website bookmarks. Even young laborers in the field think this way as well. As far as they’re concerned, receipts are just a waste of paper. They’d rather check the banking app on their phones to validate the cost of a materials purchase.

The evidence across all industries makes one fact clear. Companies seeking to attract the next generation of labor need to digitalize their businesses. Employees today expect the companies they work for to invest in available technology and build better ways for them to work. There’s no better way to do this than by leveraging Briq.

Briq helps construction companies unify traditional construction finance with emerging financial technology. It’s not just another piece of software, it’s a platform that allows you to digitalize and automate your systems. This puts your business at the forefront of the labor market and expands the pool of labor available to your team by leagues. With Briq, companies can invest in new and improved processes that attract new employees without sacrificing the way they do business.

Retain and strengthen top talent

When it comes to building a business, quality is just as important as quantity. Even if you can capture all of the new labor entering the market, companies will still need to find ways to bring in experienced construction professionals that can lead a project to success. No amount of digitalization can replace the business acumen and coordination skills of a great project manager. For many construction companies, locating and bringing in these industry veterans remains a top priority.

Briq aids companies in attracting and retaining top talent by creating a better way to work. Whether it’s through digital workflows or financial automation, Briq eliminates financial clutter and data entry tasks at every level. It’s not just your accountants that stand to gain from this. With Briq, key personnel won’t have to spend hours searching through their documents when it’s time to create a CTC or WIP. Project managers won’t go home to pages and pages of spreadsheets to fill out every night. Controllers won’t spend hours slaving away over the Excel workbook for a revenue forecast. Briq does all of the number crunching and data entry for them, leaving them to focus on more of the work that they do best. When businesses make the lives of their employees easier, they create a culture that incentivizes excellence, builds loyalty, and keeps them competitive as employers. This approach skyrockets your retention rate and attracts the best in the industry to your company.

Putting an end to labor shortages

It’s time to step away from the traditional understanding of labor shortage. Labor is about more than cost and availability. It’s also about increasing the value of each employee, organizing your staff for optimal performance, drawing in new talent, and building a business that maximizes opportunities with the resources at its disposal. Every one of these initiatives will not only solve labor challenges, but also add value, profitability, and productivity to your whole business.

Companies looking to implement these initiatives can trust Briq to get the job done. Our financial automation platform helps construction companies build a better business at every level.  By automating repetitive tasks, connecting disparate software, and analyzing historical data, we enable construction companies to make smarter decisions, and drive more profitable outcomes into the future. Contact us here to speak with our experts and see how Briq can help you improve your business.