Investing in new equipment is really investing in your business, not to mention giving your team the tools to succeed. Upgrading assets improves your company’s efficiency, leads to a reduction in accidents and injuries, and may even contribute to helping you grow your client base.
We’ve already discussed the countless benefits of upgrading your construction business to a web-based project management platform; now we’re going to touch on some of the major advantages of upgrading your equipment, too.
More productivity, less downtime
One of the biggest deterrents to upgrading equipment is the cost and time involved. But consider the lost revenue and wasted man-hours caused by slow, outdated machinery that’s constantly breaking down.
One of the biggest arguments for postponing an upgrade is the disruption of workloads and the potential delay of project deadlines due to training employees on the new equipment. Although there is some truth in this, the training downtime is nothing compared to the loss of production time involved with vital machinery breaking down on a project.
Plus, upgrading your equipment today allows you to prepare for the demands of bigger projects tomorrow.
Fewer accidents and breakdowns
The construction industry claims the highest amount of injuries and fatalities of all U.S. occupations. If there’s a chance those statistics can be reduced with new equipment, then the benefits far outweigh the costs.
Older equipment usually has fewer fail-safe mechanisms, monitoring instruments, and industry-specific upgrades, all of which can lead to malfunctions and jobsite accidents. And don’t forget that your company may be held liable for any employee injuries caused by faulty equipment.
Healthier workers, healthier world
Just like with new car models, upgrades and improvements are made to bulldozers, cranes, excavators, and other heavy machinery each year, too.
Construction sites produce large amounts of soot emissions from older diesel equipment, which is harmful to workers’ health as well as the environment’s. But recent improvements in clean-burning diesel engines have helped to reduce harmful emissions, improve engine reliability, lower maintenance costs, and consume far less fuel. An equipment upgrade has also been known to improve employee morale and motivation on the jobsite, and may even help you retain and attract more skilled workers.
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