Posted By:Infra Bazaar
The construction & real estate industry in India has grown exponentially over the past two decades and it has high growth potential with rapidly changing dynamics of the industry besides being highly remunerative. The heavy influx of works and projects needs a large number of skilled labour besides required machinery. Contractors would be under heavy pressure to provide skilled labour, machinery, equipment and other logistics for the projects. Finding skilled or semi-skilled labours as well as other logistics in time is considered a gigantic task for the contractors.
Contractors constantly and inevitably need skilled workforce, machinery, raw material and other construction material besides streamlined payment arrangements for any project to complete the project in time.
For continuous engagement of skilled labour for a given project the contractors need to be in touch with the Labour Agencies and agencies providing workforce. There is registered workforce providing agencies that provide workers of different traits on a regular basis. Timely coordination with the agencies saves last-minute rush and any inconvenience in the projects.
LABOUR LAWS, WAGES
Contractors also need to know much about the labour laws in a particular country. The knowledge of labour laws and wage payment saves contractors from any possible glitch while dealing with the workers. Workers, skilled or semi-skilled, play a key role in taking up any project or taking forward the project. Abiding by the labour laws and wage policies would not only satisfy the workers but also eases the work on site.
Keeping the machinery and equipment ready and well maintained is also the prerequisite for any contractor firm taking up huge projects. Keeping the necessary machinery is of utmost importance. Generally, hiring the machinery is considered a better choice but this does not work all the time. The contractors must keep machinery with them and maintain the logistics necessary for the project.
FINANCES AND CASH FLOW
Constant cash flow is a must for any project to go on smoothly. Any discrepancy in the cash flow affects the entire operation of the project. Contractors need to carefully design their cash flow strategy in order to streamline the project.
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