The construction and property industry plays a crucial role in Southeast Asia's economy, providing employment opportunities and contributing significantly to the region's GDP. However, the sector faces unique challenges that hinder its growth and productivity. According to McKinsey, the construction industry is one of the least digitised sectors globally, with productivity lagging behind other industries by 15 to 20 percent.
This lack of digitalisation and minimal investment in information technology has led to poor project management, ineffective design, low worker safety, high greenhouse gas emissions, and a volatile construction economy. This article will explore how digital solutions can address these challenges and improve employee health and well-being in the construction and property sectors.
Addressing the Challenges
The construction and property industry's limited digitisation and low investment in information technology have far-reaching implications for employee health and well-being. These challenges can be overcome by leveraging digital solutions that prioritise the following areas:
- Rising Healthcare Costs: With rising healthcare costs, construction and property companies face significant financial burdens. Companies can implement efficient healthcare management strategies that reduce costs by adopting digital solutions. These solutions enable companies to streamline administrative processes, optimise healthcare utilisation, and provide access to a network of preferred healthcare providers, resulting in substantial savings and improved financial stability.
- Increasing Competition: In a competitive marketplace, construction and property companies must prioritise employee health and well-being to attract and retain top talent. Digital solutions offer a range of resources and programs to support employee well-being, including health screenings, wellness programs, and employee assistance programs. By investing in these programs, companies can create a healthier and more engaged workforce, giving them a competitive advantage.
- Shortage of Skilled Workers: The construction and property industry often faces a shortage of skilled workers, impacting project timelines and overall productivity. Digital solutions can help address this challenge by providing convenient access to healthcare professionals through telemedicine services and digital healthcare platforms. Companies can promote employee health and well-being by ensuring employees have access to quality healthcare and wellness resources, increasing productivity and reducing absenteeism.
The Benefits of Digital Solutions
Introducing HealthMetrics, a leading digital solution in the construction and property industry, can unlock numerous benefits that improve employee health and well-being.
By incorporating HealthMetrics into their operations, companies can experience increased productivity among their workforce. Workplace wellness programs facilitated by digital platforms like HealthMetrics have been shown to reduce absenteeism and increase productivity. With access to comprehensive wellness programs, employees can proactively manage their health, leading to improved project outcomes and higher productivity levels.
HealthMetrics' digital platform enables construction and property companies to achieve significant cost savings. Companies can effectively allocate resources and reduce healthcare costs by optimising healthcare utilisation, streamlining administrative processes, and leveraging data-driven insights. For example, companies using HealthMetrics have saved 1,851 hours of manual work and experienced potential cost reductions between 2021 and 2022. Additionally, HealthMetrics streamlines pre-employment health screening, reducing costs by 40% and ensuring a smooth onboarding process for new hires.
Customised Benefits for Employee Satisfaction
HealthMetrics empowers construction and property companies to allocate resources for in-demand custom benefits, such as dental, optical, health screenings, and specialist care. HealthMetrics helps businesses implement data-driven wellness programs tailored to employees' needs by analysing healthcare data trends. By optimising benefits and wellness initiatives, companies can reduce inpatient claims expenses and cultivate a healthier, more satisfied workforce.
Improved Healthcare Network Efficiency
HealthMetrics' extensive healthcare network in the Property and Developer Industry ensures employees can access quality healthcare services easily. With the platform's streamlined processes, employees experience reduced appointment wait times, simplified claim submissions, and improved access to healthcare providers. The result is a more efficient healthcare network that benefits employers and employees.
In an industry where digitalisation and investment in information technology have been limited, construction and property companies can revolutionise their approach to employee health and well-being with HealthMetrics. By leveraging this powerful digital solution, companies can address the challenges of rising healthcare costs, increasing competition, and a shortage of skilled workers.
Moreover, construction and property companies can foster a safer and more productive working environment by prioritising employee health and well-being. With the power of digitalisation, the construction and property sector can unlock its full potential and pave the way for sustainable growth.
By embracing digital solutions like HealthMetrics and investing in employee health and well-being, construction and property companies can position themselves as industry leaders, attracting top talent and driving positive change within the sector. Let's embark on a transformative journey toward a healthier and more prosperous future together.