June 4, 2021
What to Expect from a Post-Pandemic World?
Thinking about the Unthinkable
Life and the economy are slowly beginning to emerge from the COVID-19 disruption of 2020. We eagerly anticipate the return to normal, but what exactly is “normal?” Will that familiar rhythm of life and business return or will a “new normal” bringing large-scale change and further disruption emerge? Everyone is weary and exhausted from the challenges the past 15 months have imposed, yet if we look deeper we can find countless examples of how the pandemic disruption has changed so much in our lives. A post-COVID world may be less recognizable than anticipated.

When businesses re-open and the economy springs to life will our work lives, businesses operations, and social lives be the same? Working from home now seems an oddly effective and practical adaptation and Zoom meetings an efficient substitute for business travel and its costly trappings. As these and other disruption-induced changes percolate through society there will likely be many more secondary changes and related business and economic impacts.  What will happen to the airline industry, traffic congestion, and retail shopping in the shadow of the pandemic?  The only predictable reality is that change will be our constant companion. 
I recently completed an easy and thought-provoking 40-minute read from noted futurist Jack Uldrich titled “Business as Unusual.”  Uldrich takes an unorthodox view of change and composes his thoughts around the need for leaders to unthink, unlearn and unsee commonly held contentions if they are to survive the coming exponential pace of change.  The text is a fascinating, eye-opening look at how quickly business can be overrun by the accelerating pace of change and advances in technology. For illustration, Uldrich cites the meteoric rise and corresponding collateral impact of businesses like Uber, Amazon and Netflix and other yet-to-emerge powerhouses of a change-driven world. 

Uldrich states, “To survive in the world of tomorrow, business leaders need to lift their heads up and see the horizon for tomorrow’s big threats and opportunities.” In the construction space, the presence and reality of change is on the doorstep. The rise of 3-D printing technology, alternative energy, and technology influenced techniques like manufactured construction are only the tip of the change iceberg. Are you prepared for the coming disruption? Is your thinking and business model adaptable or will your firm become the next Blockbuster? Uldrich challenges leaders to think about the future and how it is poised to disrupt and inflict discomfort while championing the need for leaders to “get comfortable being uncomfortable.” 

If you are prone to dismiss these thoughts as the fantasy musings of a dreamer, Uldrich reminds readers “Ten years ago, the idea that Google and Facebook would be responsible for 80% of all digital advertising would have been unimaginable. Five years ago, the concept of businesses raising $50 billion in digital cryptocurrencies was unthinkable, and a year ago...a global contagion seemed implausible.”  
As a benefit to members, AGC of Minnesota has purchased a limited supply of “Business as Unusual” and we are offering a complimentary copy to the first 50 members that respond to the offer. Email Renee your mailing address, and we will ship a copy to you. In the coming months, we hope to engage Jack Uldrich for a more personal, live and interactive event where members can hear more of his insightful and unconventional thoughts about the future of life and business.  
Join the Legislative Conversation Next Week Ahead of Special Session
Governor Walz is expected to call a special session by or on Monday, June 14th to extend his emergency powers for another 30 days and for the MN Legislature to pass a budget for the next two years. The governor has the power to call the Legislature in session, but adjournment is left up to the House and the Senate. A state budget must be passed by July 1 to avoid a government shutdown. Informal working groups were formed to negotiate budget bills and policy language. Almost all of those negotiations have been conducted in private since the legislature adjourned on May 17th. The Governor, Senate Majority Leader, and Speaker of the House have all indicated they will avoid a shutdown. AGC will be communicating with state agencies early next week regarding any impacts to state-funded jobs as the deadline approaches. 

Join the AGC Legislative Committee conversation on Thursday, June 10th at 11:00 A.M. to hear from AGC’s Government Affairs team and ask questions about pressing legislative issues. Email Laura Ziegler, Director of Highway/Heavy and Government Affairs for the Zoom link.
AGC Members: Sign up for our new platform for legislative action alerts and be entered for a Yeti cooler giveaway! You are the construction industry’s best advocate, and AGC's action alerts platform allows you to take action easily and in a timely way.

All members who are registered for AGC action alerts by June 20 will be entered in a giveaway of a Yeti Roadie 24 Hard Cooler. Thank you for your time and advocacy!
Results from Construction Sector Survey
The Federal Reserve Bank of Minneapolis today released the results of their May Construction Sector Survey.

Thank you to all participating firms!
Next Week - 401k Target Date Funds: the Good, the Bad, and the Ugly

Selecting which investment options should be made available within your company’s 401(k) plan is one of the most important responsibilities of a 401(k) plan sponsor. Target Date Funds have grown significantly within the industry, but very few participants understand how they really work. Learn from AGC member Fringe Benefits Design about why Target Date Funds have become the subject of class action lawsuits and scrutiny from the SEC.

Register for this free June 9th webinar here.
AGC CEO Tim Worke will present on AGC's experience using Fringe Benefits Design's financial services.
Todd Mathison
Fringe Benefits Design
Lucas Peterson
Fringe Benefits Design
Register your Foursome for the 2021 Golf Tournament Soon!

Join us on August 6 at Keller Golf Course in Maplewood!

Get all the details and register here.

Thank you to our Title Sponsor,
Larkin Hoffman!
Registration is Open for the 2021 Sporting Clays Fundraiser

Join us on September 15 at Minnesota Horse & Hunt Club for our annual fundraiser! Funds raised are used for scholarships for students pursuing degrees in the construction industry.

Get all the details and register here.

Thank you to our Title Sponsor,
RDO Equipment Co.!
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Associated General Contractors of Minnesota 

525 Park Street, Suite 110 |  St. Paul, MN 55103