Construction Business Owner January 2013
How to Find Highly Skilled Trade Workers
One of the additions we’re making in Construction Business Owner in 2013 is the Case Study section. Here, we share problems that our readers are facing and turn to industry professionals for advice so that they and others facing similar situations can benefit from experts’ counsel.We looked at CBO’...
Executives from various construction markets discuss their views of 
the coming year.
Construction EquipmentThe construction equipment industry is the backbone of the construction industry as a whole—its health may be one of the best indicators of the construction climate. Construction Business Owner caught up with these executives to hear their thoughts on 2012 and 2013. Mike Mack...
Insights from the International Risk Management Institute’s annual conference
Several years ago, Donald Rumsfeld took a lot of ribbing in the press—and perhaps rightfully so—for his now famous remark: “There are known knowns; there are things we know we know. We also know there are known unknowns.” But, when applied to construction, an argument could be made that a good...
FMI’s Nonresidential Construction Index provides invaluable insight into the construction climate for 2013.
The national elections are finally over and President Obama has been re-elected. That’s the headline, but there is a subheading too. The electorate has chosen to keep most of the Senate and House in place; so after all the election rigamarole, we are pretty much where we were before the election....
Online receivables auctions can free up cash without the restrictions of a bank loan.
In the construction industry, managing cash flow can feel like a juggling act. For any given project, there needs to be adequate funds to make payroll, maintain equipment and purchase materials. Unfortunately, though cash is spent consistently, it tends to come in sporadically. This means most...
Protect yourself by complying with recent EEOC guidelines.
In 2012, the U.S. Equal Employment Opportunity Commission (EEOC) issued its Enforcement Guidance (Guidance) on the Consideration of Arrest and Conviction Records in Employment Decisions under Title VII of the Civil Rights Act of 1964 report, as amended (Title VII).  Construction owners need to...
Consider partnering with PEO and stop wasting your valuable time.
We’ve all heard the saying that few things are certain in life. For business owners in the construction sector, though, one thing is predictable: it’s not getting any easier to run your business and manage employee issues. First, you must attract and hire quality employees, and then you have to...
Measure your financial ratios against top performers to maximize your company’s efficiency.
Benchmarking is the process of comparing your company’s financial performance against its historical performance, against industry standards and against top industry performers. Additionally, companies can benchmark performance against top performers in other industries that share similar...
Follow these best practices to offset rising workers’ comp costs.
With 2012 behind us, I want to start the new year off with some thoughts regarding best practices for managing workers’ compensation claims. As many of you know, medical inflation, poor underwriting and meager investment returns have placed workers’ compensation insurance deep in the red, with...
Implement modern motivational techniques to improve employee performance.
Editor’s Note: This is the third in a six-part series titled “The Project Manager’s MBA,” which analyzes six key components of leading business practice and applies them to the construction industry. Leading engineering and construction programs around the country have equipped future managers with...
The key to being profitable is understanding 
your job costs.
When I ask contractors what their yearly overhead is, they often answer in the range of ten to fifteen percent. However, overhead is not a percentage of costs or sales, and it should not be viewed as such. You don’t pay your staff as a percentage of the jobs you bring in, do you? Your overhead is a...
Monitor your equipment with greater detail to realize a better return on investment.
Telematics is defined as the use of technology that allows construction vehicles to send, receive and store information. This allows contractors to keep close tabs on the productivity, uptime and operating costs of their fleets. It also allows them to monitor machine health to take a proactive...
Provide incentives that empower employees and encourage a proactive approach.
The first step to success in the construction industry is ensuring the safety of your most valuable asset—your employees. Doing so translates to greater efficiency and productivity as well as the ability to stay on schedule consistently. Traditional safety management programs offer critical...
Learn how construction-specific payroll services can save you time and money.
Face it: Payroll processing is a pain for many contractors. Especially given the complexities of construction payroll—including varying rates for contractors working on multiple jobs in multiple states and localities—this can be an incredibly time-consuming process. Also, government-sanctioned...
Consider incorporating this machine into your fleet for versatile performance.
Mike Crimaldi knows track carriers. He was working with crawler-mounted drills before he had a driver’s license, starting out as a driller’s helper at age 15. As his company’s drilling fleet grew, so did its service and repair capability. Eight years ago he transitioned out of direct drilling...