From the category archives: Business

Business

Paving the Way for Female Leaders

There are key things male-dominated industries like construction can do to address the gender imbalance, provide advancement opportunities for female talent and drive a more diverse workforce. The need to do so is more critical than some realize. 

New Overtime Rule Raises Exemption Threshold to $47,476

  The Protecting Workplace Advancement and Opportunity Act (S. 2707/H.R. 4773) has been proposed to require the DOL to examine the impact on stakeholders, including the public sector, before implementing any changes to the exemptions. The employer community is expected to redouble its efforts in support of this legislation and other solutions. 

No Bounds to Success

  Women business leaders at ABC and throughout the industry will agree, there is no one path to the top. 

Cyber-Phishing With New Lures

  If the wire transfer has been initiated by an approved company employee, there is not much chance of recovering the funds. The bank is not held liable as long as it follows the proper protocols. Once the fraud is discovered, contact the bank’s fraud department immediately and direct it to stop the payment and freeze the recipient account. Typically, the funds are cleared out within hours of the transfer, so acting fast is imperative.

Capitalizing on Market Intelligence

In construction, contractors build their strategy on market data that illustrates trends, shifts and projections. This intelligence can lead to tactics for taking advantage of a certain market using the flexibilities of being open shop, plus utilizing technology onsite to ensure profitability and success. 

What Type of Leadership Is Needed to Sustain a Family-Owned Business Through Economic Changes and Generational Differences?

As leadership in successful companies is passed from generation to generation, the foundational principles that made the company great must be maintained. However, it is critical that those who may have been a part of the early establishment be willing to yield to strengths and innovative insights brought by new talent. 

Embrace the Future Through Succession Planning

When preparing a business and its employees for the transition to new ownership, consider the future in a positive light and leave the company in a spot in which it can continue to prosper. 

Court Blocks DOL’s Final Persuader Rule

  The U.S. District Court for the Northern District of Texas issued a nationwide injunction blocking the U.S. Department of Labor from implementing the final persuader rule, keeping it from taking effect July 1. 

Succession Planning and Ownership Transfer: Do It Right the First Time

Many U.S. construction industry leaders are approaching the age of 60 and above, with a recent study conducted by PricewaterhouseCoopers concluding that 33 percent of all construction firms will be transitioned during the next five years. While construction firm owners have vast knowledge in their trade niche, most have limited experience in the sale and divestiture of their own business interests. 

Spending Stabilizes at Elevated Level; Supply Constraints Become More Apparent

While nonresidential construction spending growth struggles to maintain momentum, the balance of 2016 should prove a rewarding period for many construction companies. America’s consumer-led economic recovery remains in place, and construction backlog remains at elevated levels. 

 

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