There’s a broad spectrum and diversity of roles within the construction industry. This can be an administrative nightmare when it comes to managing operational, staffing, and welfare initiatives. Payroll, obviously, forms a critical part of all these activities. In the context of payroll, you also need to add in the presence of unions and the […]
The administrative challenges of managing multiple trade unions and contractors for various projects can become overwhelming — as can calculating and processing multi-tiered pay rates. This makes the process of union payroll processing confusing, time-consuming, and tedious. Managing hundreds of trade unions efficiently and administering prevailing wages for thousands of craft can put payroll managers […]
Technology advancements are paving the way for one of the largest industries in the world, the construction sector. As emerging technologies reshape the construction industry, construction companies are reaping the results from eliminating long-standing inefficacies and low productivity. Despite construction being known as one of the lesser digitized sectors, industry leaders are embracing the challenges […]
As the COVID-19 pandemic created disruptions worldwide, there was a paradigm shift in how businesses enabled their workforce to work comfortably and safely. Remote work became a norm in most domains. But the ones where the physical presence of the workforce was deemed necessary, like the construction industry, did not have this luxury of remote […]
Imagine being a multi-dollar construction company creating a new state-of-the-art facility and finding itself late and over budget, accruing losses and delaying revenues by the day. Or – maybe you don’t need to imagine — this may be a common occurrence. As construction companies face increasing complexity, project leaders find themselves looking for new solutions […]
Traditionally, many construction companies used physical timecards to keep track of their employee’s work time (or time spent on their allocated job). Timecards have also been effective at estimating project costs and client billing. Why are timecards and attendance tracking critical for successful projects? Timecards effectively improve project execution and help to control any project […]
It is quite common for small and medium businesses to invest in QuickBooks early in their journey to digitizing core functions like accounting, payroll, and billing. Construction companies also find it helpful to organize some of their major back-office administrative functions and support reporting. Since its market introduction, QuickBooks has successfully delivered financial solutions for […]
The US economy incurs more than $7.4 billion in losses every day due to untracked work hours. If there’s confusion over how employees are spending their workday and how much time a particular project’s taking, it’s nearly impossible to fine-tune miscalculations, potential time theft, or any other inaccuracies. Since efficient time tracking is critical for construction payroll […]
For construction companies, payroll and time tracking is becoming increasingly complicated, especially regarding union and government compliance. Complying with standards being laid out by the Fair Labor Standards Act (FLSA) or the Davis-Bacon act is not easy, especially with many companies still struggling to calculate the right wages and overtime rates for workers. Read on […]
In effect since 1931, the Davis-Bacon Act is a U.S federal wage legislation that is applicable to construction and infrastructure building companies. Essentially, the Davis-Bacon legislation requires contractors (or subcontractors) working on federal and state-level construction projects to pay their laborers wages that are not less than the prevailing wage paid locally to workers for […]