TORONTO, ONTARIO (February 15, 2022) — Bridgit, the leader in construction workforce intelligence technology, today announced Bench Cost Tracking as the next new way to help general contractors have full workforce visibility. As one of many recent additions to Bridgit Bench, the Bench Cost module will help general contractors tie a dollar value to people who are sitting on the bench or are underutilized, and make data-driven decisions about how to properly allocate staff.
The ongoing labor shortage crisis has led to an industry-wide struggle to get enough of the right people to complete projects. It’s crucial now, more than ever, for general contractors to maximize the productivity of their current staff. Yet, contractors that continue to use spreadsheets or outdated legacy solutions may be missing out on critical insights necessary to make the best decisions for their people. Bridgit Bench, with its robust forecasting, can help. This new feature is enhanced by existing utilization and people capacity reports in Bridgit Bench.
“Bridgit took our feedback to heart and worked closely with us to create the new Bench Cost feature,” said Greg Wade, Senior Vice President at MATT Construction. “Bridgit now makes it possible to quickly review our workforce forecast and to plan our business functions around our most valuable assets: our employees. Through intelligent forecasting, Bridgit provides clear and controllable data, allowing us to make better-informed decisions while saving time and cost.”
Contractors using Bridgit Bench will see a panoramic, 5-year view of how productive their people are, how many projects their people can handle, and how much it’s costing them to have people left on the bench. Managers can use this data to maximize revenue with better project allocations. In addition, better understanding bench costs can help GCs surface opportunities to take on more projects.
“Having spoken to leaders across the industry, we’ve heard time and time again that it is really difficult to understand the financial implications of benched staff, and forecast their annual G&A expense,” said Mallorie Brodie, CEO and Co-Founder of Bridgit. “This is a magic number that helps our customers anticipate their risk exposure and we’re delighted to provide this type of insight to help GCs make the best use of their talent.”
Bridgit’s mission is simple — to help the construction industry maximize profits by taking a people-first approach. Workforce Intelligence from Bridgit transforms workforce data into actionable insights that inform an organization’s strategic and tactical business decisions. Bridgit is a privately held company, having raised over $43.5 million CAD in equity financing, with capital from investors such as Autodesk, BDC Capital’s Women in Technology Venture Fund, Camber Creek, Export Development Canada, IAF, Nine Four Ventures, Salesforce Ventures, Sands Capital, StandUp Ventures, Storm Ventures, and Vanedge Capital. Learn more about Bridgit at gobridgit.com.