In the eyes of the next generation of workers, construction is an industry that is stuck in the past.

More businesses fail in construction than any other industry and, as an industry that operates on wafer thin margins, workers are under pressure. They work long hours, suffer high stress levels and are six times more likely to die from suicide than a workplace incident. Diversity is low and women make up only 12 per cent of the workforce. In a recent survey less than one third of Gen Z respondents said they would consider a career in the built environment3 The industry has no choice but to transform, if for no other reason than to maintain a workforce large enough to deliver the substantial pipeline of work it is being called on to deliver.

The demise of Australia’s construction industry is of national significance. Construction contributes 7 per cent of GDP and employs almost 1 in 10 of the working population. This is the very industry called upon to rebuild Australia’s economy following the COVID pandemic. It is vital to the health of the economy and, importantly, the quality-of-life Australians enjoy.

The link between improved productivity and industry sustainability is strong. Improvements to the industry’s productivity performance could save Australia $47 billion annually. Savings of this magnitude would go a long way in improving Australia’s budget bottom line and establishing Australia’s construction industry as a worldwide leader representing best practice.

Government, industry and unions all agree on the opportunity and, more importantly, the need for change. Incremental change and 10-year horizons are out. To keep the industry alive it must transform, and it must transform now.