Back in November, an eminent construction executive made a presentation at an insurance conference on survival strategies for contractors. Part of his presentation was advice about making layoffs, which was timely. If you look at what U.S. businesses have done in the first phase of the current recession, they have propped up their financial results by cutting personnel. The executive outlined the choices employers face, using a medical term—amputation—for cutting whole departments or units, and a term from 16th-Century warfare—decimation—for cutting a portion of each department. Related Links: Post-Recession Strategy for Firms Is the New Turning Point However, there are
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.