Monthly Archives: March 2012
Posted on March 29, 2012 by FMI CorporationDeveloping High Potentials By Ashley Sisk Avoiding turnover completely is unlikely, as it is not always easy to increase salaries or benefits. In most cases, a little turnover is welcomed, especially in the case of low performers. While losing low performers can enhance the bottom line, losing talented high-potential employees can negatively affect the bottom line. FMI asked in its 2011 U.S. Construction Industry Talent Development Report if your company had a formal process to develop high-potential employees. Comments indicated that the process of developing high potentials exists, but results showed that only 38% of companies have a formal process. Furthermore, when asked if this was part of a structured management succession process, 71% of respondents said no.
This post was posted in Consulting, Talent Development and was tagged with FMI blog, construction industry blog, A/E/C blog, FMI Corporation, Talent development construction industry, High potential employees, Talent development trends
Posted on March 20, 2012 by FMI CorporationFMI’s First Quarter Construction Outlook, 2012 By Randy Giggard FMI’s forecast for total construction put in place for 2012 is an increase of 5% over 2011, or $826.3 billion. We expect 2012 to be the turning point for a long-depressed construction industry. Of course, we must temper that with a number of caveats in our report. Nevertheless, if our forecast seems moderately optimistic, note that the last time construction put in place was at this level was 2000-2001. One of the keys to this growth is the return of private investment in projects as state, local and federal construction dials back until budgets are in better repair and tax revenues return to levels that are more normal. That is a big “if,” but there are signs in the markets reviewed in FMI’s First Quarter Outlook that this is starting to happen.
Posted on March 13, 2012 by FMI CorporationConstruction Cash Flow – Your Project’s Lifeline By John Chaney FMI is happy to welcome back John Chaney, co-founder of Dexter + Cheney, a Seattle-based company that specializes in construction management software, for his thoughts on construction cash flow. Whether you work in a construction accounting department or are a project manager, cash flow is important to your everyday work. The accounting staff needs enough cash in the bank to pay bills and project managers need enough to complete jobs. So why is cash flow so difficult to manage?
Posted on March 6, 2012 by FMI CorporationThe Science of Efficiency and Productivity By Gregg M. Schoppman The race to the bottom has been fierce and bloody. The current perception of the marketplace revolves around being the low-priced provider with little room for value propositions. Contractors routinely lament about customers only caring about the bid and the continual downward pressure on price has further fueled this belief. There are plenty of contractors that are manipulating the market and “buying work.” As long as there is one bidder willing to work for cost, or even less in some cases, the paradigm of low cost providers will win. A less popular phenomenon, but one that bears contemplation, is that some of these “buying” contractors are in fact more efficient and productive than are their peers. “There is NO WAY the competition can do it for that,” is a fairly bold proclamation heard throughout contractor bid war rooms daily. What if even 50% of the competition is able to not only to do it for that price but also make money in the process?
This post was posted in Consulting and was tagged with construction industry blog, A/E/C blog, FMI Corporation, Productivity, Lean Construction, BIM, Prefabrication, Lean Six Sigma in Construction, Building Information Modeling