Industrial Construction Strategies Blog

standard processing increases growthIt should not surprise you that managing projects in the heavy construction industry can often be chaotic and inefficient.  Although you likely have heard about the benefits of standardizing business processes before, what can it really do for your company’s bottom line and future growth? 

 

construction growthOn September 21, 2011 a panel from the CFMA Georgia Chapter Southeast Region met to discuss the state of the construction industry. The panel predicted that the construction industry across the United States would not see construction growth for another 12 to 18 months. However, the panel did observe growth in certain states, such as the Mid Atlantic states and Carolinas.

payroll adjustment processIn the industrial construction industry, there are various payroll errors that need weekly adjustments. Often these errors are not readily apparent to staff and with hundreds of employees on a job site they take some time to find and correct.

 

Common payroll errors in the industry include:

sustainable growthThe G7 Economies, three years after the global financial crisis, are showing signs of slowing down. According to the Globe and Mail, Japan’s level of output is 3.7 percentage points less where it was at the beginning of the recession and the United States’ average growth of 3% in 2010 has slowed to only an average of 0.7%.

 

construction payroll cyclesWhat do top performing payroll departments do differently? Based on the Hackett Group’s “Payroll Performance Study”, there are 5 characteristics top performers have in common. Consider these characteristics when looking for ways to increase the efficiency of your company’s construction payroll cycles:

Canada's Oil SandsWhat impact do Canada’s oil sands have on its economy and the global oil industry? Here are some facts that more readily define the influence Canada’s oil sands have on its economy and the globe.

calculating payroll error rateWhy should your construction company care about their payroll error rate? Simply put, significant reductions in payroll errors result in cost savings.

 

construction productivityToday, Gregg Schoppman, a senior consultant from FMI, spoke during the Construction Financial Management Association (CFMA) webinar “Proven Techniques for Improving Construction Productivity”. The webinar addressed how construction companies can influence change. It provided advice on how companies could control the communication and planning of their organization.

field data collection systemAlthough accounting and project management software is needed for cost control this information is only useful after a project is complete and is applied to future projects. The information does not help management ensure they meet or exceed expectations during the project.

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