Those in the construction and property trade face unprecedented challenges. The UK’s stagnant economy has forced many companies to adopt a ‘back to basics’ business plan to help keep them afloat. It has also forced them to be flexible with their approach.
Every day we read reports about the rise and fall of property prices. This week we hear from estate agents and property analysts that the housing market is on the turn. According to the latest Land Registry figures, house prices increased by an average of 1.1% in January in England and Wales.
This bounce can partly be attributed to a rush of first-time buyers to secure a home before the exemption to stamp duty on cheaper properties ends on the March 24. But experts also say that easier access to mortgages is beginning to help aspiring homebuyers after four years of market frustration.
It makes hopeful reading. It may also lead many businesses in property and construction to look again at their business and build a strategic plan to move it forward. Charlotte Gallagher, Managing Director of P3 People Management, Manchester’s leading HR consultancy, says one of the key elements in the building trade is ‘flexibility’.
She says: “The building sector has felt the full force of the financial pressure, with a lot of building projects being left unfinished or forced to scale down. They are having to assess their business and build a strategic plan to move forward. Essentially, businesses need to go through ‘due diligence’ to objectively assess their management team and their business’ strengths and weaknesses.”
Charlotte adds: “Businesses are having to compete in a very competitive market, forcing many of them to go back to basics and focus their business strategy. This will undoubtedly save them money in the short and long term helping them weather the financial storm that we are all facing.”
Consultants at P3 People Management, who work with a number of construction and property businesses across the country, can advise and assist with all your recruitment needs.
For help and advice to take your business forward with a structured plan, contact P3 People Management on 0161 941 2426 or visit www.p3pm.co.uk