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OP INSTITUTIONAL

By Donna M. Glover 

Although the Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) under the Trump Administration may lean toward compliance over enforcement, it is clear that nothing has changed yet regarding the office’s aggressive enforcement. The OFCCP conducts approximately 1,500 to 4,000 compliance audits each year, and this year appears to be no different. 

This year, OFCCP mailed 1,000 corporate scheduling announcement letters to federal supply and service contractors notifying them of a potential compliance evaluation. If a contractor receives a letter, that means the office will conduct a review of the contractor’s compliance efforts. The OFCCP calculates that contractors have a minimum of 75 days to make sure they are ready. Given this advance notice, the OFCCP has stated that it will not grant extensions for “routine business reasons” and that any extension granted would be limited to 15 days. 

OP COMMERCIALBy Julian Anderson 

Chat with any colleagues who have recently returned from a conference and you'll likely hear anecdotes, restaurant recommendations and the latest insider gossip. Face-to-face networking, in such a concentrated way with people who have common interests, remains an incredibly effective and efficient way of communication. 

Judging by a report in the March 2018 issue of Trade Show Executive, an increasing number of people share this view. From December 2017 to January 2018, nationwide trade show attendance grew by 1.4 percent. 

OP CIVILBy Jennifer French

What accounting method do you use? If you’re like most companies, you selected a method of accounting with your first tax return and haven’t given it much thought to since then. However, with the passage of the Tax Cuts of Jobs Act (TCJA) in December, you may want to reevaluate your accounting method.

The TCJA adjusts two limits — who can use the cash method and accounting for long-term contacts. Both take effect for tax periods beginning after Dec. 31, 2017. These changes may present new opportunities for contractors. 

DISASTER PREPARATIONData-driven tools can help contractors with recovery efforts. 

By Johnny Clemmons

The next Atlantic hurricane season has arrived, and early forecasts hint at above-normal activity again in 2018. This raises the question: What can the construction industry learn from the record-setting hurricane season of 2017 that could help it prepare for and respond to another disruptive storm season?

The research and consulting firm Gartner, addressing disaster supply chain risk and recovery in the wake of Hurricane Harvey, urged distributors and manufacturers in the building industry to plan for a recovery-related surge in demand lasting “at least two years.”

BUSINESS SUCCESSIONThere are four steps to a successful company transition.

By Shane Brown and John Beeble

Most construction companies are led by larger-than-life, charismatic leaders. Often, they have built their businesses from the ground up based on strong professional contacts and their reputations within the industry.

So when it comes time for that leader to retire, a thought out and well-crafted succession plan is essential to preserve the value of the general contractor company.

 MICHAEL BURDICK 01There are four keys to get your firm’s finances in order.   

By Michael Burdick

While there are countless ways for a business to fail, many of the most common causes stem from poor financial management. Construction firms are no exception. Underscoring these hardships, Bloomberg BNA’s 2014 survey of 200 in-house tax and accounting professionals found that construction and manufacturing firms are the most likely to experience procedural accounting and tax errors.

 HOLLINGSWORTH 012018 will be a year of digital disruption in construction.   

By Chad Hollingsworth

There’s no denying construction’s impact on the U.S. economy. According to McKinsey Global Institute’s 2015 Industry Digitization Index, construction accounts for three percent of GDP share and five percent of employment share, yet it suffers negative productivity growth. This is due in large part to its status as the second least digitized U.S. industry. Unsurprisingly, industries with the highest rates of digitization experience the greatest productivity growth, and unlike advanced manufacturing or utilities, for example, construction has been slow to adopt the digital tools that have automated processes and unlocked efficiency in other industries.

 BILL WILHELM 01There are four elements of effective safety programs.   

By Bill Wilhelm

On any construction site, improving worker safety should be a primary objective. Effective safety planning and implementation not only keeps workers safe, but also can shorten project timelines, improve productivity and boost morale. Consider these four elements when developing or updating a safety program for your company:

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