6.11.2018 #fuelme | What slow customer pay costs contractors, Sacramento’s worker retention challenge, The story construction companies need to tell

Here’s a quick glance around the web, bringing you a taste of the news you need to know this week.

 

Slow pay hurting construction’s financial house

Delayed customer payment—all too common in construction—is taking a bite out of the industry’s profits to the tune of $40 billion, according to a new report by Contract Simply. The report says that some 88 percent of contractors waited more than 30 days to get paid, and 46 percent of them had to draw from personal finances or take out loans with interest in over to cover costs. Discounts in exchange for under-30-day payments could put $18 billion back in contractors’ pockets, the report says. Another solution: mechanics’ leans against the project.


Sacramento suffering from worker theft

Sacramento is hemorrhaging workers: many of the capital area’s construction workers are choosing to commute down to construction projects in San Francisco, Oakland and San Jose, where the work has been booming and pay is high. A recent study showed that Sacramento County and surrounding counties will face a worker deficit of 7,000 workers each year over the next five years. That’s why the Operating Engineers Local hosted a job fair on Sunday to recruit new heavy equipment operators and more.


PlanGrid expanding its borders

Construction document management software PlanGrid is expanding its “ecosystem” to include integration with more other softwares and service providers, for a more seamless customer experience, they announced in a press release today. Over 10 “best in breed” partners have integrated with PlanGrid in the last six months, according to the release. Examples include SiteAware’s drone image uploading software and RedTeam’s project management platform.


How do construction company’s position themselves to hire better?

Hanley Wood’s digital content director for residential wrote this timely piece that compiles data and comments from other sources on why construction—which already offers good pay and advancement opportunities—needs to change its “story” in order to hire Millennials.


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