Newsletter | August 2020
STUDY FINDS COVID-19 PROTOCOLS LED TO A 7% LOSS ON CONSTRUCTION PROJECTS

A new study confirms and quantifies what contractors across the country already know: Implementing COVID-19 safety preparations and protocols at jobsites has led to a decline in productivity, which is eating into their profits. 

The report from New Horizons Foundation, the research arm of the Sheet Metal & Air Conditioning Contractors’ National Association (SMACNA), found that its members have taken a 17.9% hit to productivity since the outbreak began, resulting in a 7% financial loss, instead of profits, for the average project. It also found that over the course of an eight-hour day, the average worker lost 85 minutes dealing with COVID-19.
DISCA eSafetyLine
Member Safety Solution
Join us for a webinar on Sep 9, 2020 at 9:00 AM EDT for details about the program and a tour of the eSafetyLine website
Industry News
HOW TO BE A MORE EFFICIENT, EFFECTIVE
FINANCIAL FORECASTER

Accurate financial forecasts are critical to managing cash flow, setting realistic goals and budgets, and guiding essential decisions that help sustain and grow construction businesses. But, creating them is not always an easy task for construction finance managers (CFMs).

CFMs confront unique challenges when tackling the often time-intensive financial forecasting process, including identifying and accounting for project fade, burn rates, and backlogs associated with their industry.
THE COST-BENEFIT ARGUMENT FOR INVESTING
IN TECH TO IMPROVE SAFETY

Most professionals in the construction industry will agree that projects are already complex, and the growing lack of skilled workers only makes them more complicated. For the sixth consecutive year, trade positions are the hardest to fill globally. Ensuring workers are properly trained on safety procedures and keeping them focused and engaged is critical for retention, business productivity and safety. Jobsite workers are faced with hectic schedules and hazardous working conditions, which can result in injury, illness, lower productivity and morale, and increased absences, all of which could ultimately lead to lower profits.
Please forward any articles you would like to share with the membership to [email protected]
Events & Programs
For the health and safety of our members, events will continue to be rescheduled or cancelled in adherence with government and medical guidelines.
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Phone: (908) 359-1184 | Fax: (908) 359-7619