“It won’t happen to us, and companies in our industry are not a hacker’s target.”
That’s an outdated notion in an age when, according to security experts, 4,000 ransomware attacks take place per day. In 2017 alone, the costs to companies will exceed $5 billion, and that’s accounting for just one of many types of cybersecurity threats.
Construction and surety companies can minimize the threat of cyber-attacks by implementing the following preventive measures.
For some time now, the construction profession has been in decline and skilled workers have left the industry during economic downturns. But new research about skills and jobs in 2030 shows the future of work is brighter than conventional wisdom suggests. Of today’s workforce, only one in five workers is in occupations that will shrink. This figure is much lower than other predictions claiming 40 percent to 60 percent of workers are in declining job fields. The reality is that many jobs recognized today will still be in demand by 2030 and beyond.
Between 2010 and 2016, Texas’ population grew at the second-greatest rate in the country, accompanied by increased demand for residential, retail and commercial space. With companies such as State Farm and Toyota relocating company headquarters to North Texas, contractors nationwide are dedicating more resources to Texas than ever before.
Wise contractors will be wary of the unique Texas laws that affect them. With proper understanding and preparation, contractors can save the pain and expense of subsequent litigation.
The value technology brings to the equipment industry can’t be overlooked—from proven systems such as telematics tracking and total stations to newer wearables and virtual reality headsets. Considering the technology adoption rate in the last five years is the industry’s highest ever, it appears there’s more to come, and the companies that embrace these trends have a strong competitive advantage over the ones that don’t.
Yet, challenges come with implementing technology. Many company leaders would love to adopt more technology, whether BIM software or drones, but most don’t feel they have enough people or time for successful implementation.
Weather events are changing the construction landscape, giving new vigor to the force majeure clause and requiring new approaches to project completion. Most recently, Hurricanes Harvey, Irma and Maria—and the wildfires in California and Montana—have highlighted the need to focus on best practices for responding to such events. Contractors and subcontractors can take steps to minimize out-of-pocket costs related to damage and recovery efforts and maximize their ability to transfer to others risks of force majeure events.
Businesses that fall victim to floodwaters will face a long list of challenges that need to be carefully approached in order to get the site back on its feet as quickly and effectively as possible.
One area of the building that will be particularly at risk, but that might not be immediately apparent as a cause for concern, is the floor finish. The floor is a crucial area for any business: It’s part of the visual image for commercial companies and it’s the solid foundation for the intensive work in an industrial facility.
Based on his research of companies that went from good to great, author Jim Collins advocates for keeping a position open rather than hiring a person who isn’t perfect for it. A bad hire simply costs a company too much—as much as or more than $17,000.
Finding the right hire in an industry with a skills gap requires a two-pronged approach: undertaking long-term measures to eliminate the gap and adopting inbound recruiting strategies to fill positions in the short term.
This fall presented the most devastating hurricane season in recent memory, with four storms registering as a Category 3 or higher. After the fact, the rebuilding process presents unique challenges, particularly for those doing the actual reconstruction and restoration work.
With hundreds of apps available for Apple and Android devices that assist contractors with everything from bidding and estimating to project management and closeout, why would anyone develop an in-house app?
Several reasons drove four contractors to spend months developing company-specific apps, including a dislike of paperwork, a drive toward efficiency and a lack of off-the-shelf solutions that cater to construction operations.
Although its purpose is to interpret the National Labor Relations Act in a fair and impartial way, the National Labor Relations Board (NLRB) has suffered through nearly a decade of unprecedented partisan legal decisions that have the chance to reshape the entire American workforce.