How to Apply the Pareto Principle at Work and at Home
The 80/20 rule, also known as the Pareto Principle, is the idea that 20% of your efforts bring 80% of your results. The idea applies to many things in life. 20% of your customers make up 80% of your revenue. 20% of your employees make 80% of the complaints. 20% of your customers are 80%…
Construction Recovers Lost Jobs as Economy Bounces Back in the 3rd Quarter, Reports Marcum Commercial Construction Index
The Marcum Commercial Construction Index for the third quarter of 2020 reports that the industry continues to recover jobs lost from the recession caused by COVID-19. Construction employment has rebounded since plummeting in March and April, and the industry’s unemployment rate stands at 6.8% as of October, just below the 6.9% percent rate observed across all industries….
New Survey of Small Business Shows Slight Uptick in Optimism
Today, the National Small Business Association (NSBA) is releasing a new survey on how COVID-19 is impacting America’s small businesses and what they anticipate in the coming months ahead. The survey shows modest improvements in small-business confidence and economic outlook, and a lower overall impact of the pandemic. “Despite these gains in outlook, COVID-19 continues…
Business Lessons from a Professional Athlete
We use sports analogies often in the business world. Winning comes from motivation and determination. Practicing hard and focusing on the details will lead us to victory. Never give up until the game is over. The phrases could go on. But very rarely do those of us in business consider the possibility that a practicing…
Construction Employment Rises in 45 States
Forty-five states and the District of Columbia added construction jobs between July 2017 and July 2018, while 29 states and D.C. added construction jobs between June and July, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials cautioned that continued job gains may depend on…
DOL Announces New Pilot Program to Expedite Resolution of Wage Violations
The Wage and Hour Division (WHD) has announced a new nationwide pilot program, the Payroll Audit Independent Determination (PAID) program, which facilitates resolution of potential overtime and minimum wage violations under the Fair Labor Standards Act (FLSA). The program’s primary objectives are to resolve such claims expeditiously and without litigation, to improve employers’ compliance with…
The Top Issues Facing Construction in 2018
Several industry surveys and reports forecast continued growth in the construction industry. Albeit, the growth shows a modest 4.8% increase, different from the double-digit growth in previous years. Regardless, there is still a general sense of optimism. With continued growth and positive outlook in the construction industry, what can possible be keeping construction executives up…
GroundBreak Carolinas 2018 Outlook Survey Feedback
Last month, GroundBreak Carolinas asked our readers for their thoughts on 2018. While your feedback was generally positive, there were some very interesting comments. We’ve compiled some of your comments and feedback. Our editorial staff categorized your comments. Business “Medical costs continue to be a huge burden for small contractors like us. We have 60…
FMI Releases Quarterly Publication
FMI Corporation, the leading provider of management consulting and investment banking services to engineering and construction, infrastructure and the built environment, is pleased to announce the release of its fourth “FMI Quarterly” issue for 2017. The publication (co-sponsored by Zurich) comprises a collection of industry insights and strategies focused on innovation and transformation in today’s…
FMI Releases Quarterly Publication
FMI Corporation, the leading provider of management consulting and investment banking services to engineering and construction, infrastructure and the built environment, is pleased to announce the release of its second “FMI Quarterly” issue for 2017. The publication (co-sponsored by Zurich) comprises a collection of industry insights and lessons learned from Texas that can be applied…
