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 […]
In today’s fragile workforce, you don’t want to lose employees because of avoidable payroll mistakes. According to the Workforce Institute at Kronos, nearly half of American workers will begin a new job search after two paycheck errors. Whether that’s not compensating employees for the correct number of hours, miscalculating payroll taxes or paying the wrong […]
The global construction industry is expected to be worth over by 2023. After the slowdowns and hiccups created by the COVID-19 pandemic, the sector is seeing widespread growth irrespective of region. With the projected growth volumes, businesses in the sector are on a record hiring spree. Around 7.5 million, or nearly 4.8% of the US population, is […]
Just last month, the U.S. Department of Labor’s Wage and Hour Division (WHD) found a New Jersey electrical subcontractor in violation of the Davis-Bacon and Related Acts on a federally funded project and recovered $799,479 in back wages. This month, a Miami electrical and engineer contractor also violated the Davis-Bacon and Related Acts, owing $37,411 […]
Technology has disrupted every industry, unlocking unforeseen potential, even in unexpected ways. Construction is seeing changes as well. For instance, a big percentage of modern construction is now modular – parts of a building are constructed in “modules”, off-site in a controlled environment, and are assembled on-site to create the building. 3D printing in construction […]
Establishing a new building – either residential or commercial is not a small task. Since there are so many aspects of a construction project, be it design, exteriors, interiors, electrical fitting, or plumbing, it requires some legally-binding agreement. All the terms related to a construction project should be included in it so that the involved […]
Handling a construction project is a tough nut to crack. Many people think of these jobs to be governed by only two parties – the client who wants to hire professionals for a project and those who can be seen working on a construction site. However, in reality, there are several stakeholders involved, be it […]
“Perfection has to do with the end product, but excellence has to do with the process.” – Jerry Moran This famous quote is quite indirectly related to the global construction industry. What is visible to the eyes is the increasing number of high-rise buildings and skyscrapers. In terms of market size statistics, the global construction […]
