Every business is different, but certain entrepreneurial lessons can apply to all. Fifth Avenue Brands CEO Richard Lorenzen reviews five, including a readiness to own up to and learn from your inevitable mistakes, and a commitment to transparency.
OSHA's annual updates this year include protection against falls that apply to all businesses. Andrew Miller reviews some of the important points, including new discretion for employers to select the most appropriate fall protection systems for their situations.
A ransomware attack that struck computers around the globe last month has heightened companies' focus on cybersecurity. Taking five steps, including offering prevention training to help employees detect phishing attacks, can help your company protect itself from ransomware.
The construction sector could save $127.3 billion annually by making more use of drones in site planning, project updates, and safety enhancements, according to PwC. Among companies developing drones specific to the industry is Autodesk, which is working with a drone company to develop technology that can geotag photos, push data to the cloud and create orthomosaic image files.
Lean construction principles designed to cut back on waste and boost value can also be applied to other areas of a company, specifically when it comes to safety. "It's important to have an environment that fosters continuous improvement, worker input and collaboration," says senior risk engineering consultant Andi Schoppa, who added, "Everyone works together on solving problems or preventing them."
Storing any construction materials in the open, especially under bridge spans, is a bad practice that can lead to disasters such as the Interstate 85 bridge fire in Atlanta, writes Bill Wilson. The Federal Highway Administration discourages such storage but needs to issue rules to prevent problems, he asserts.
Business owners can best manage millennial employees by investing in their professional development, hosting events to help employees build friendships and creating a culture that instills a sense of purpose, writes Gather CEO Nicholas Miller. "Instilling the beliefs that learning is a lifelong process, feedback is always welcome, and that mistakes are opportunities for improvement ensures that your team will continue to strive for growth throughout their careers," he writes.
Job openings in the US continue to rise even as hiring slows down, according to Labor Department data for April. Economists say that may point to a dearth of skilled workers and suggest the market may be reaching full employment.
Nonfarm payrolls increased by 138,000 in May, below economists' average expectations, according to data from the Bureau of Labor Statistics, and revisions to March and April numbers led to a loss of 66,000 jobs from earlier reports. The construction sector added 11,000 jobs, and the unemployment rate decreased from 4.4% to 4.3%.
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