Industrial Construction Strategies Blog

construction payroll challengesThere are many construction payroll issues and challenges heavy construction companies face weekly. Here are a few tips on addressing construction payroll outsourcing, compliance and cost issues.

 

heavy construction growthAlberta experienced a 4% increase in economic growth in 2010 and it is forecasted to continue to grow over the next 25 years. The Conference Board has predicted that Alberta’s GDP (gross domestic product) will expand 3.1% in 2011 and 4% in 2012.

increase productivityIn Alberta Venture’s “It’s the Productivity, Stupid” by Lisa Ricciotti, Alberta’s productivity is re-examined. The article explains that although Alberta is considered the richest province in Canada, over the last decade it has become the least productive.  From 1997 to 2007 Alberta had the poorest labour productivity growth, multifactor productivity and capital productivity growth.

adpFrom 2000 to 2010, DO2 Technologies offered electronic invoicing software solutions for oil and gas companies and processed more than 6 million e-invoices and procurements.  Before DO2 Technologies, approximately 64% of all invoicing in the oil and gas industry was done on paper, causing inefficient processing, high costs, and late payment fees to suppliers. (www.techvibes.com)

 

cloud computingOn November 9th the CFMA hosted a Webinar, “Ending the Communication Breakdown”, on where technology is heading and how this affects the construction industry.

 

payroll yearendThe time around payroll yearend can be a very busy one as certain steps must be taken in order to ensure you meet your payroll requirements and submit accurate payroll. However, you can alleviate the burden of doing yearend tasks with a little planning and preparation.

federalMaking the change to pursue government funded construction projects, without proper planning, can cause contractors and their staff to misunderstand Federal Construction Projects’ unique payroll requirements. This can lead to major problems such as contract termination, non-approved payment requisitions and more.

 

high payroll costsPayroll has gained the reputation of being non-productive due to its repetitive and administrative tasks that often end up costing business’ more than is necessary. There are many payroll mistakes that cause increased payroll costs but which ones are costing businesses the MOST money?

minimize costsAccording to Gregg Corley, Associate Professor in the Department of Construction Science and Management at Clemson University, The National Institute of Standards and Technology published a study in 2004 and found 15.8 billion was lost due to the communication between all the players in the EPCM process.

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