The McKinsey report, “Delivering on Construction Productivity is No Longer Optional,” highlights the urgent need for the construction industry to overcome its long-standing productivity stagnation. Despite technological advancements and individual efforts, global construction productivity has only improved by 10% over the last two decades, lagging far behind other sectors like manufacturing. Key challenges include labor shortages, rising costs, and slow adoption of productivity-focused technologies. The report suggests that without significant improvements in productivity and better workforce strategies, the construction industry could face a $40 trillion shortfall in meeting global demand by 2040. It calls for transformative approaches, such as upskilling labor, adopting new management metrics, scaling innovations, and leveraging technology to drive industry-wide change.
To the The McKinsey report, “Delivering on Construction Productivity is No Longer Optional
