The first part of the new OSHA "illness and injury" reporting regulations is straightforward enough. It states that those who are already required to file these reports must now submit the forms electronically, via a secure OSHA website. Companies not currently required to file injury and illness reports aren't affected by the new rules.
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Direct labor is one of your biggest costs, but tracking it can be an administrative nightmare. Workers often bounce from site to site, incur different labor rates for each job, and record time by hand, leading to all kinds of potential mistakes.
Buying another construction firm can be an attractive way to grow your company's revenue base. A merger or an acquisition can allow you to:
The death of an employee who fell two stories to his death at a Massachusetts construction site might have been prevented if his employer had supplied the required fall protection, according to the Occupational Safety and Health Administration (OSHA).
Construction site theft is an expensive, growing concern. Costs rise as contractors lose building materials, tools and equipment and liability insurance premiums rise. Often those losses are passed on to customers.
Want three ways to cut Workers' Compensation premiums? Safety, safety and safety. Make it a priority and charge everyone who works for you with responsibility. One company, which made a top-down commitment to safety, reduced accidents and injuries by 50 percent in five years and saved more than $800,000 in Workers' Comp premiums.
Job costs are the lifeblood of your construction business and accurately estimating them will determine if a project will make money. Managing job costs across the life of the project will ensure that your firm makes money on every job. Moreover, those job-by-job profits make the office and your executive salary possible.
Construction project financing and cash flow management are unique for several reasons.
Construction employers are fined millions of dollars each year for OSHA violations. The citations that result in fines are often overlooked by supervisors. Although employees usually receive generic information about OSHA standards in most workplaces, it's important to implement training procedures that make OSHA's rules clear.
Throughout the year, businesses like yours need to be able to provide verified financial results to others. This may be your tax preparer, a lender or investor, a potential purchaser of your business -- should you decide to sell -- or another interested party. Not to mention that you, as the company owner should know your books are being done with accuracy and completeness.