Conquering the Compensation Conversation

Construction Business Owner

Conquering the Compensation Conversation. Compensation can be an icky subject. While “icky” might be the least technical adjective to use, many business leaders feel their skin crawl as the topics of base compensation and bonuses enter the conversation.

AIA’s Compensation Report reveals how architecture firms weathered the pandemic

BD+C

Despite a steep economic recession during the first half of 2020, compensation for architectural staff at U.S. architecture firms essentially held flat over the 2019–2021 period, according to the American Institute of Architects (AIA) biannual Compensation Report

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Workers' Compensation 101 for Construction Firms

Construction Business Owner

Workers' Compensation 101 for Construction Firms. What you need to know to limit the number of workers' compensation claims your company deals with on an annual basis Elizabeth Manning. Tue, 04/28/2020 - 16:06.

Adjusting the Compensation Model

Collaborative Construction

Crafting an incentive based compensation mechanism, tied to metrics that matter to the owner, is a critical step in negotiating an integrated agreement that works for the owner, designer and contractor. If your team is struggling with issues related to the need to adjust the compensation mechanisms on your project it might be worthwhile to schedule a collaborative workshop to explore the issue in detail.

Louisiana Contractors – Workers Compensation Insurance

Construction Law Monitor

Back in 2009 this blog reported on the very topic of Workers Compensation insurance, stating that 1 and 5 businesses are breaking workers compensation laws. Workers Compensation is codified in Louisiana under Revised Statute 23:1021 et seq. So let this be a warning to all contractors who are trying to push the line when it comes to workers compensation insurance, its just not worth it.

Lower Workers' Compensation Costs by Having a Plan

Pro Builder

Lower Workers' Compensation Costs by Having a Plan. Having comprehensive plans in place are the most impactful way to mitigate workers’ compensation costs, says the National Association of Home Builders. cbroderick. Tue, 11/17/2020 - 09:55.

Shrinkage Compensating Concrete Construction for Slabs-on-Ground

The Constructor

Shrinkage compensating concrete is an expansive concrete that expands by an amount equal or greater than the volume change anticipated for drying. Concrete Technology Guide For CIvil Engineer Special Concrete in Construction Concrete Technology special concrete

How Construction Workers' Compensation Losses Are Changing

ENR Construction

Falls remain a plague, but auto accidents are more of a factor

AECOM Reports New CEO Total 2020 Compensation of $9.3 Million

ENR Construction

Pay cuts taken in April because of the pandemic ended in August

Workers' Compensation Claims: A Common Employer's Nightmare

Construction Business Owner

Workers’ compensation claims and how to keep them under control have always been a concern for employers. There is no federal workers’ compensation law that addresses workplace injuries. Today, every workers’ compensation claim raises the potential for a variety of workplace laws to come into play Incidents ending in claims occur in virtually all industries and can be costly and time consuming. It is a state issue, and each state enacts and enforces its own legal framework.

Consider Collectively Bargained Workers' Compensation

Construction Business Owner

Collectively bargained workers' compensation gives building trade unions and union contractors the ability to create their own workers' comp system, tailored to their specific needs. You may have also heard of collectively bargained workers' compensation referred to as "carve outs" in the traditional workers' compensation system.

Court Recognizes Day-to-Day Changes Are Compensable Despite Contractual Waivers

Best Practices Construction Law

2) Are day-to-day miscellaneous items compensable even where a party fails to reserve their rights on these type of cumulative claims? It happens all the time! The owner-contractor agreement contains a “no damages for delay” clause; a clause requiring that all changes be in writing before work is performed; and a clause requiring partial lien waivers and releases with each periodic payment.

Pricing and sales compensation: Making it work

Construction Marketing Ideas

Pricing and sales compensation are among the messiest aspects of business. In theory, the ideal fix to this problem is a variable compensation grid — sales reps which generate high-margin sales earn higher commissions — and they are not allowed to sell below the lowest marginal price available. We also modify the sales compensation for certain types of sales which add to long-term viability and sustainability, again as long as they are within the pricing grid.

Lifting and Related Injuries Now Second on Workers' Compensation Cost List

ENR Construction

Liberty Mutual index shows exertion as the cause of greatest insurer losses

Why Ending Misuse of Workers' Compensation Ratings Won't Be Easy

ENR Construction

How owners and prime contractors misuse workers’ compensation experience ratings

Mismeasure of Safety: Ending Misuse of Workers' Compensation Experience Ratings

ENR Construction

How owners and prime contractors misuse workers’ compensation experience ratings

California Contractors Need Workers Compensation Insurance, or else…

Construction Law Monitor

In one of JD’s tweets last week I discovered a very informative article by Matthew Hicks regarding Workers’ Compensation Insurance law and jurisprudence in California. The bottom line here is that all California contractors need to be sure to maintain proper and adequate workers compensation insurance. The main statutory component of Hicks article and the source of Workers Compensation law in California come from California Business and Professions Code §7125.2

Top Tactics for Controlling Workers’ Compensation

Construction Business Owner

As a business owner, you should be at least marginally conversant in the arcane vocabulary of workers’ compensation (WC), such as keeping track of your experience modification factor (EMF) or “mod.”. This modifier is an actuarial factor used to adjust your WC insurance rate higher or lower than the average for your industry class code, based upon the frequency and severity of your claims

California Opens Door Wider To COVID-19 Workers’ Compensation Claims

ENR Construction

Newsom extends claim potential to all workers outside the home, beyond what other states have done; AGC, Chamber voice concerns about rebutting claims and benefit costs

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3Q Cost Report: Compensation Stays Steady Despite COVID-19 Disruptions

ENR Construction

Eased worker shortages have kept pay hikes stable in 2020, but future uncertainties still loom

Protect Yourself from Workers' Compensation Fraud and Risks

Green Industry Professionals

Know your rights and when to take action in regards to workers'' compensation benefits

Construction boom paying off in executive compensation, bonuses, report says

Construction Dive

Construction firms also are spending big to recruit executives, especially those with experience in alternative project delivery methods

Report: Construction boom paying off in executive compensation, bonuses

Construction Dive

Construction firms also are paying big money to recruit executives, especially those with experience in alternative project delivery methods

U.S. hourly compensation rates in construction trades

Contractor Magazine

by Alex Carrick. This article sets the scene for what is already a simmering topic and is sure to heat up further in the months ahead - mounting pressure on wage rates in construction. read more. Management Plumbing

How Readers Shaped ENR's Workers' Compensation Feature

ENR Construction

It started in Houston last November during comments at the International Risk Management Institute’s annual construction conference

Industry Compensation Challenges Grow as Contractors Boost Salaries in a ‘War for Talent’

ENR Construction

New study suggests that the causes of an industry-wide compensation boost are not solely a result of market-specific factors or the cost of living

Research: Workers Compensation Claim Denials Inch Upward

ENR Construction

Are challenges to claims helping, or do they end up adding to costs of coverage

Lifting and Related Injuries Rises to Second on List of Workers' Compensation Costs

ENR Construction

The Liberty Mutual index shows exertion as the cause of greatest losses

Small Firm Compensation Report now available

BD+C

The American Institute of Architects (AIA) has produced the first-ever

AIA 41

Top 10 Ways to Manage Workers' Compensation Exposure

Construction Business Owner

Workers’ compensation insurance pays for occupational injury and illness; that’s why you buy the insurance. Oftentimes, it is an employer’s single most expensive line of coverage. What many contractors fail to grasp, however, is that some significant indirect costs are not covered by insurance. In addition, if your company is large enough to have an experience modification, every claim will affect your mod factor and directly impact your costs

The compensation survey: How much are you worth (how much should you be paid)

Construction Marketing Ideas

The SMPS compensation survey. Compensation surveys are intriguing resources. If you are a Society for Marketing Professional Services (SMPS) member, you can access the compensation survey data by completing your own survey. On the other hand, it doesn’t hurt to seek out and understand how you compare to others and if you are in a hiring mode, to know the norms so you can set compensation levels that are sustainable and effective.

Controversy Flares Over Opioids in Pennsylvania Workers' Compensation System

ENR Construction

Are formulary solutions a way out of the opioid burden on workers compensation

Six Tips to Prevent Workers' Compensation Fraud

Green Industry Professionals

Six steps an employer can take to combat fraud from the very beginning

FMI Releases a Study on the Effectiveness of Incentive Compensation

Construction Business Owner

June 13, 2013) – FMI, a leading provider of management consulting and investment banking to the engineering and construction industry, announces the release of its 2013 study on the effectiveness of incentive compensation in the U.S. RALEIGH, N.C. construction industry. The report is based on the survey results from 224 top executives

Buoyed by construction activity, architect compensation continues to see healthy gains

BD+C

The burst in construction spending over the past several years has been a boon to architectural firms, where as an industry payroll employment has grown by an average of 7,500 positions per year over the past size years. About 4,500 of that annual increase in staffing has been for architectural positions

Best Practices for Developing a Contractor’s Request for Compensation

Best Practices Construction Law

Recently, Cordell sent me a list of items that all contractors should review when developing a request for additional compensation. Identify any trends and determine whether there is a causal event for any loss of productivity that may be compensable. My mentor and good friend, Cordell Parvin , has over the years shared with me some great best practices for contractors—whether talking about bid protests, accidents on the jobsite, or filing a claim.

Why Public Sector Building Owners Should NOT Pay Percentage-based Compensation to JOC Consultants

Job Order Contracting

The post Why Public Sector Building Owners Should NOT Pay Percentage-based Compensation to JOC Consultants appeared first on 4BT. JOC Consultants. Hiring JOC Consultants to basically outsource Job Order Contract Program management and providing payment to the JOC Consultant as a percentage of total construction volume is JUST PLAIN WRONG. Here are the reasons why… Higher potential for conflict of interest and fraud.

Florida Businesses Want Workers' Compensation Changes

ENR Construction

Rate stabilization' is goal as state lawmakers begin legislative session

Rulings to Send Florida Workers' Compensation Rates Up

ENR Construction

Florida employers are bracing for increases as high as 20% in their workers’ compensation premium rates as a result of two recent decisions handed down by the Florida Supreme Court

What Are the Components of a Truly Effective Incentive Compensation Program for Construction Companies?

Construction Dive

offers a slew of advice for construction companies that are thinking about launching or improving an incentive compensation program. A new report from FMI Corp.