How to Calculate Labor Savings when using a Construction Hoist
With rising costs in the construction industry and a still tight economy across the U.S.,
savvy project managers or CEOS for general contracting businesses are looking
for ways to keep overhead low. But with supply costs, the amount of labor hours
involved and the expense of construction hoists, getting to the top of a highrise can have a negative effect on your bottom line.
How renting temporary construction hoists can help
If you are a medium to large business facing a high-rise construction project or the
renovation of a multi-floor building, then you know labor hours is a one of the
biggest costs your company will have to bear. One way to minimize the impact of
these costs—and save on equipment expenses as well—is to consider leasing a
safe, rack and pinion elevator to expedite the project.
How exactly does renting construction hoists help?
In can help your business’ bottom line in several ways. First, you are not having to purchase and maintain the expense
of your own elevator. Construction hoists can be rented for just the amount of
time required by your construction project.
Secondly, renting safe and efficient construction hoists can actually trim the hours
required by your workers by securely speeding them up and down a multi floor
building with ease. These labor savings can actually save a general contractor
thousands and thousands of dollars over the course of a project.
Consider the following labor savings calculator. It is just a sample of how much savings you
can enjoy by leasing temporary construction hoists.
Estimate of Labor Savings by Leasing a Construction Hoist
- First, determine the number of workers you have on project.
- Then determine the hours per day per worker that is lost without an elevator.
- Third, multiply the number of 8 hour shifts in a day for your project.
- Calculate the number days on the project
- Finally, input the average labor cost per hour (with benefits) for each worker.
The resulting number gives you the amount of money you would save on the project using a temporary elevator.
The following example uses 50 workers costing 50/per hour on 200-day project. If these
workers lose just an hour per day without temporary construction hoists provided, they would
be costing you an additional $500,000 per project! Simply do the math and multiply the
1 hour lost per worker per day
1 shift per day
200 days without an elevator
$50 average labor cost per hour
$500,000 total estimated labor savings per project
Wow. $500,000 is a huge savings depending on how you look at it. But it varies depending on
your needs. See for yourself. You can plug your own estimated
numbers into the calculator and multiply to get a more specific estimated savings to your
own needs. You might be surprised at the labor costs you’ll save.
And note, you can lease temporary hoists in all sizes, depending on the number of workers
you have. Companies will lease everything from a single car that holds up to a maximum of 30
passengers to twin care construction elevators that can hold up to a 6,000
pounds of people and equipment. You can even get temporary construction hoists
in used or new condition. There are many options to meet your needs and your
To research the types of hoists available, visit metroelevator.com or simply request a quote for your upcoming project: