2023 CIRT Index: Third Quarter
The CIRT Sentiment Index improved going into the third quarter of 2023. The overall index score rose to 59.7 from 52.8 in the second quarter. The design index remained constant at 68.5.
In advance of our industry labor productivity study to be released in September, we asked CIRT members what they're experiencing in terms of labor productivity, potential labor cost savings, and key internal and external effects on productivity. Key findings on current issues include:
- Nearly 1 in 4 respondents experienced a decrease in labor productivity over the past 12 to 18 months.
- More than 9 out of 10 respondents indentified the potential for as much as 15% savings in field labor through better management practices.
- Nearly all respondents had recent experiences with needing to increase staff to deliver projects on time and safely.
Internal factors negatively impacting productivity include lack of skilled labor and poor coordination. External factors such as project disruptions from external decisions and/or project controls were cited as leading causes of productivity loss.
