By Susan Finch
When news breaks about devastating cyberattacks, it's banks, major corporations, restaurants and hospitals that tend to make the biggest headlines. But that doesn't mean the construction industry is immune to such attacks.
In March 2016, Turner Construction fell victim to a spear phishing scheme when an unscrupulous employee sent tax information on current and former employees through a fraudulent email account, according to iSqFt. The act resulted in massive leaks of employees' Social Security numbers, places of residence, tax withholding information and first and last names, among other proprietary information.
However, the true costs involved with hacking go well beyond paying for damages and settling class action lawsuits to those impacted. Everything from insurance premiums to lost relationships can drain the profits of hacked companies in the construction industry and beyond. Here are some of the hidden costs of a hacker attack to businesses.
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By Naomi Bagga
Eighty percent of Internet users own a smartphone, according to marketing company Smart Insights. Meanwhile, 60 percent of media is consumed on mobile, based on research conducted by Comscore. With the onslaught of smartphones and apps, mobile technology has clearly taken over fixed Internet usage in business, creating a more flexible and efficient work environment.
So how exactly does mobile technology improve business? Check out some of the main ways mobile usage can streamline your company processes and allow you to focus on what’s important - profitability.
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By Naomi Bagga
It’s no secret that a company’s success is built on the hard work of its employees. However, according to a survey conducted by analytics company, Gallup, close to 70 percent of Americans are not showing up to work committed to reaching their potential, highlighting a dissatisfaction in the workplace. The average employee turnover rate in the construction industry alone in 2013 was between 20 to 38 percent.
Possibly due to poor management, low morale or bad work conditions, unsatisfied employees can cost companies thousands of dollars in turnover fees, as well as significant declines in productivity and economic growth. How do you ensure your workers are happy and giving their all in the workplace? Let’s take a look.
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By Kaitlin Krull
As a contractor, staying up to date with current market trends is an essential part of keeping your business relevant and profitable. Environmental consciousness is more than just a buzz word these days — both professionals and homeowners are adopting more environmentally friendly practices now than ever before. If you want to reshape your construction brand to incorporate some of these practices, there are several things to take into consideration. Here are some top tips to help you rebrand as a green construction brand.
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By Courtni Wisenbaker-Scheel
Social media has become the glue that holds our world together in a lot of ways now. Like it or not, if your construction business doesn’t have a strong digital presence, then you’re likely losing out on new clients to competitors that do have one. From Facebook to Instagram and Pinterest to YouTube, social media is here to stay, and you need to tap into it in order to help your business thrive. These are the top most important benefits to having several social media profiles.
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By Lauren Topor
Sustainable design is becoming increasingly important. Sustainable design increases building efficiency concerning water usage, energy consumption and materials. An eco-friendly building can reduce the harmful impacts on not only the environment, but human health as well. From first time home buyers to established companies, eco-friendly building is on everyone’s mind. So, why should contractors care? Aside from reducing the impact on our natural environment and communities, there’s a range of incentives that come with green-building, including tax creditsand deductions. Here’s how you can incorporate in your next project.
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By Roy Rasmussen
Almost all gallons of gasoline used in the U.S. today now contain 10 percent or more of ethanol, according to the Renewable Fuels Association. Ethanol has grown in popularity because of its renewability and low greenhouse gas emissions, which are only 43 percent of gasoline emissions after land use change emissions are factored in.
But if you’re a construction industry professional, a practical question you might be asking is: does using ethanol-powered vehicles make sense from a business perspective? Here’s a look at some of the practical differences between ethanol and gasoline engines in terms of performance and price.
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By Roy Rasmussen
The U.S. construction industry continues to grow in 2017, with Dodge Data & Analytics projecting that the industry is moving into a mature phase of measured expansion. Total construction starts will rise 5 percent to $713 billion, with 8 percent gains for both residential and nonresidential building. One thing this means for construction firms is more kickoff meetings in the near future. A successful kickoff meeting helps set a project off on the right foot and get things moving in the right direction. Here’s a checklist of items to help you make sure your next kickoff meeting goes off without a hitch.
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By Sara Parker
Last year, 1 in 5 worker deaths occurred within the construction industry, according to OSHA. In addition to that startling statistic, some of the top-10 OSHA standards violations were related to issues concerning equipment, personal protection equipment, machinery and electrical systems.
While most everyday job sites are safe places to work, construction professionals must take the necessary precautions to avoid on-the-job employee accidents. Business owners must work to ensure optimal workplace safety by determining whether all equipment is functioning and meets OSHA standards. Here are four areas in which construction companies should keep a watchful eye.
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Home Builders need to consider preventive waterproofing as part of new construction.
By Matt Stock
When assessing the value of waterproofing for new construction, some contractors see lots of costs, but no real benefits. However, investing in this type of preventive maintenance adds value to the potential home buyer and bolsters the reputation of the builder who demonstrates this level of concern for his customers.
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