On the heels of the COVID-19 pandemic, companies across the industry are eyeing a bounce back with a backlog of work and not enough manpower to complete the projects. Aside from a reduction in skilled tradespeople, the competition among companies to hire the most qualified individuals is another hurdle plaguing our industry. As someone who solicits career opportunities for qualified individuals, this process has been more challenging than ever.
In today’s world, retirement plans such as a 401(k) are not only commonplace, but are almost a requirement. Whether you are talking about attracting new talent or retaining your current employees, giving people the opportunity to save for their retirement is something most employers need to consider. Defined benefit plans are far less common these days. As such, most employees are realizing the need to plan for their own retirement. Sure, employers will reap the benefits of their company contributions being tax deductible, but what if there was another way a contractor could leverage their retirement plan to help make bids more competitive? The Davis Bacon Act can allow employers to do just that.
It’s no secret that the economy is rapidly heading towards uncertainty. Unfortunately, we are all subject to the consequences of that same uncertainty. Every time you put gas in your vehicle, buy groceries at the store, or purchase lumber at the supply house, you’re seeing, and FEELING the ramifications of the unsteady economy. The best thing anyone can do to ensure they can weather the storm is to be prepared. Elizabeth Warren once said, “Budgeting your money is the key to having enough,” and I would agree that this is a mainstay of financial preparedness.
I’ve been asked a lot lately, “what’s your future look like?” or “where do you see yourself in five years?” I’m going to be honest; I don’t know. That doesn’t mean that I don’t have goals or that I’m unmotivated. I just don’t know where my accomplishments will lead me, and I’m okay with that.
It’s no secret that over the past two years the workforce has declined. More and more workers are finding reasons to move on to another company, industry, or to not return to work at all. Finding ways to hold on to employees and workers is yet another negative coming out of a global pandemic.