It’s quite shocking when you think about it. Ask any university graduate to describe how they approached three significant life choices: their major, their college, and their career. Ask them to recall, in order, which they chose first, second, and third. They’ll probably tell you that the first thing they chose was the college they wanted to attend. Perhaps they picked a parent’s alma mater or one based upon location.
Read More

 

The rapid pace of technological change isn’t news to electrical contractors – who can’t go far without encountering such buzzwords as “Industrial Internet of Things” (IIoT) and “digital transformation” – yet its full effect on the industry can be difficult to grasp.
Read More

 

While the use of independent contractors (IC) can have substantial business advantages given the current economic and political climate, IC relationships have been facing and continue to face increased scrutiny. Both the Internal Revenue Service (IRS) and the Department of Labor (DOL) believe that up to 30 percent of employers are misclassifying their workers. The Government Accountability Office also estimates that misclassification costs the federal government $2.7 billion dollars a year in unpaid unemployment, FICA, FUTA, and other taxes. With the Obamacare mandate that companies with 50 or more “full-time equivalent workers” offer health plans to employees who work the required number of hours per week or else pay stiff penalties, significant temptation exists to reclassify employees as ICs.
Read More

 

In running your contracting business there is only one guarantee: You eventually will exit – either voluntarily or involuntarily. The day will come when you will have to say goodbye. Exiting is not an easy process, and the odds are not in your favor. Therefore in order to succeed, the business and the owner must both be prepared to successfully transfer the business.
Read More

 

Would you like to make an extra million dollars of income next year without adding any more employees to your payroll? What if you could do it without any capital outlay? The skeptics among you just read those sentences, rolled your eyes, and thought about flipping to the next article. But if you keep reading, I’ll show you exactly how to do it. It works, it’s amazing, and it will totally change the game for you. And yes, you can start doing it in your electrical business as soon as you get back to the office.
Read More

 

Over the past decade, the electrical industry has done a great job of recognizing the ergonomic safety issues caused by the use of manual tools. The negative effects these tools have caused on the body and risk to ergonomic injury make workers more injury prone and create hidden dangers on job sites. During this same period of time, some electrical tool manufacturers have listened to the voice of the electrical industry and have constantly innovated and invented new tools and features to improve the safety, accountability, and ergonomics of electrical tools in the marketplace.
Read More

 

Over one hundred attendees from twenty-two companies were represented at MCA’s annual symposium (Fig 1). Attendees included owners, general contractors, subcontractors, and distributors. Contractors in attendance varied from electrical to mechanical, and included all stakeholders from executive management to foremen. They all collaborated on topics on increasing productivity and profitability within the construction industry.
Read More

 

There are many specialized hand and power tools that electrical contractors (EC) use every day to help save time and money. Beyond these physical implements, however, there is a wealth of online tools available, which can be equally valuable.
Read More

 

It’s no secret that the nature of work is shifting. Across all industries, the makeup of the workforce continues to evolve as baby boomers increasingly retire and millennials become the largest demographic among U.S. employees. Amidst the Digital Age, new connected technologies and the proliferation of available information have transformed buzzwords like the cloud, digitization, Internet of Things, and big data into inescapable components of business operation and strategy. Established industry titans are looking for ways to maintain their market share against emerging disruptors with new products, services, and business models.
Read More