From the category archives: Business

Business

Intelligent Machines

Construction equipment manufacturers are at the ready with a fleet of technology-rich machines that will revolutionize how contractors work. 

Executive Insights

Financial, legal and technology experts explain ACA requirements, the benefits and security of cloud-based accounting systems, the pros and cons of ESOPs, and the benefits of requiring funds control.

All Contractors Will Be Affected by the New Lease Standard

  All construction contractors’ assets and liabilities will be affected by the new guidance to some degree, depending on the company’s circumstances. Contractors that have significant fleet leasing activity are likely to feel the change more than contractors with less leasing activity. 

Come in Ahead of Schedule: It’s Time to Think About ASC 606

  Companies tackling ASC 606  head on will gently glide into the implementation phase in a few years. Those that don’t likely will experience varying degrees of turbulence. 

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. 

 

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