From the category archives: Business

Business

The Value of an Annual Partnering Meeting

The results of the partnering meeting, as it becomes an annual tradition, will prove to be valuable throughout the year, and help to provide a big-picture view of the construction business that otherwise would not be possible. 

Three Financial Red Flags to Monitor

  A steadfast financial management process fosters teamwork, accountability, communication among departments, and continual learning and improvement so the same mistakes aren’t duplicated. 

Four Questions to Ask to Identify Accounting Inaccuracies in a Contract Schedule

Construction business leaders should ask four questions when reviewing a contract schedule for accuracy. 

Tackling Mental Health and Suicide Prevention in the Construction Industry

  Historically, the construction industry has been characterized by a stoic, tough-guy culture. After generations of this old school mentality, the times are changing as progressive contractors weave mental health and suicide prevention into a dominant “new school” culture. 

Winning Strategies in the War for Talent

  Companies can use several strategies to help retain current employees and attract new ones: evaluation and feedback, mentoring and training, succession planning, competitive wages and benefits, and alternative scheduling.

A Prescription for Reducing Workers’ Comp Costs

  The epidemic of prescription painkiller addiction is correlated to the uptick in workers’ compensation claims, with the greatest amount coming from the construction industry. 

Safety: A Near-Perfect Alignment Between Doing the Right Thing and Enhancing Profitability

Firms with better safety records are less exposed to lawsuits and claims for workers’ compensation. Trained workers are more likely to stay on the job. Better safety means fewer expenses to repair damaged equipment and reputation. And, safe companies eliminate the costs of investigation, potential workplace interruptions and impacts on morale.  

Building a Positive Cash Flow Floorplan

Building a cash flow system from the ground up starts by following a management floorplan. The biggest challenge is not aligning the core principals, but rather keeping up with these recommendations over time. Setting up a strong system will benefit the business in the long and short term.

The Best Kept Secret for Financing Construction Projects

  Most companies face the question of how to best meet the need for long-term financing for capital projects. As it turns out, owners—often along with their contractor partners—can utilize bond financing for land acquisition, construction and even equipping a wide range of improvements.

Protecting and Preserving Payment Rights Can Lead to a Healthier Bottom Line

  Experience tells the prudent contractor that certain processes can increase the likelihood of protecting and preserving payment rights. Payment issues and concerns typically arise during three construction phases: pre-, during and post-performance. 

 

Heartfelt Giving at Its Finest
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