article thumbnail

#133:  DOL's Latest Independent Contractor Rule

NH Construction Law

According to DOL, the new rules “will help to ensure that workers who are employees are paid the minimum wage and overtime due to them, and that responsible employers that comply with the law are not placed at a competitive disadvantage when competing against employers that misclassify employees.” 14, 2022).

article thumbnail

4 Ways to Avoid Profitability Traps That May Be Costing You

Autodesk Construction Cloud

Maintaining profitability on any given project is a challenge that many AEC firms face. It’s no secret that the construction industry has some of the lowest margins out there; data from Camino Financial states that the construction industry has an average net profit margin of just 5%. As Dane puts it, “Bottlenecks affect productivity.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Consultancy growth stabilises Mace at £1.9bn revenue

Construction Enquirer

Across the group, underlying profitability remained steady although pre-tax profit slipped 5% to £36m after a £13m hit on a revalued development joint venture for a mixed-use scheme in Oxford. Mace also delivered more than £214m of construction work through its construction management projects, not included in overall revenue.

article thumbnail

North West’s Beech Group sold to MBO

Construction Enquirer

Since joining then-named John Beech in May 2021, Vaughan has helped the business to double in size from a historic trading level of around £5-6m turnover to over £12m. With this trading profit at Beech, which employs around 50 staff has risen from £500k to £2.5m

article thumbnail

Leading the Home Building Industry: Pro Builder's 2021 Forty Under 40

Pro Builder

Leading the Home Building Industry: Pro Builder's 2021 Forty Under 40. Wed, 04/07/2021 - 15:02. Meet our class of 2021—the rising stars in home building. Pro Builder is proud to present the Forty Under 40 Class of 2021. Pro Builder is proud to present the Forty Under 40 class of 2021.

article thumbnail

Department of Labor Clarifies Independent Contractor Classification

Pro Builder

Tue, 01/12/2021 - 10:36. The rule provides clarification for employers who are determining whether their worker is an independent contractor or employee. Department of Labor Clarifies Independent Contractor Classification. cbroderick. Department of Labor’s latest announcement—that is, if the Biden administration implements the rule.

article thumbnail

Construction Costs: 3 Ways Contractors Can Deal with Rising Prices

Levelset

Rising costs during a construction project affect not only the project’s profitability — they affect a contractor’s ability to survive. An increase in any of the construction inputs can eat into a contractor’s profit. in the year ending in August 2021, according to JLLs H2 2021 Construction Outlook. Building costs.

Deals 98