Author: Dan Doyon

Electrical Contractors: Driving Through Business Growth Roadblocks

Every electrical contracting business will face challenges. The way you deal with them will determine your ability to grow your small business profitably. Small business owners wish their growth trajectory was ever upwards. Unfortunately, small business is complex, with many ups and downs in expansion. A multitude of factors influence and determine small business success, including finance, technology, staffing resources, sales and competitors. Most obstacles can be avoided and many issues can be managed to success. Unattended, these issues can steal our focus, sap our financial resources and, sometimes, derail our most important initiatives.

What can we do to remove these roadblocks so we can capitalize on our opportunities to succeed? This report contains strategies to help address the issues preventing electrical contracting business growth.


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 If you found this report useful, please help us continue our mission by contributing to ELECTRI:

Click here to contribute to ELECTRI International

Key Performance Indicators: Increasing Margin and Reducing Risk

A Key Performance Indicator (KPI) is “A quantifiable measure used to evaluate the success of an organization, employee, etc. in meeting objectives for performance.” A KPI considers the business’s context, strategies, and values and is a metric that incorporates performance targets so companies can track their progress toward goals.

There is increased interest in KPIs, with many contractors either currently using them, trying to implement them, or expressing a strong desire to do. Despite growing knowledge of metrics and the benefits of key performance indicators, many contractors have not implemented them because they are unclear how and where to begin.

KPIs are critical both for determining a contractor’s success and making necessary adjustments for optimal success and profitability. The objective of this study was to research and provide a practical guide for contractors to use KPIs in their companies.

 

KPI Evaluation Tool: Take a deep dive into pertinent key performance indicators (KPIs) and see how your company measures compared to your peers within the electrical construction industry. Functional areas such as business development, estimating, finance, operations, prefabrication, purchasing, field installation and more are built within this benchmarking tool. Properly established KPIs are more critical today and with an understanding of how to use metrics to monitor performance, increase profit margin, and reduce risk will support optimal success and profitability.

Download KPI Evaluation Tool

 If you found this report useful, please help us continue our mission by contributing to ELECTRI:

Click here to contribute to ELECTRI International

PANDEMICS AND CONSTRUCTION PRODUCTIVITY: QUANTIFYING THE IMPACT

PLEASE FIND THE FINAL VERSION OF THE REPORT HERE

A pandemic can have far reaching impacts on the U.S. economy. Companies in once successful industries across the United States have felt the immediate impact of the current pandemic in the most devastating ways.

Early measurements of the impact of this pandemic suggest that construction productivity has been impacted by nearly 20%. A rule of thumb for self-performing contractors is that a 10% impact on productivity results in a 100% impact on profitability. As such, contractors need to consider seriously the impact of this study on their profitability and seek equitable adjustments that adequately compensate them for the impact.

This study is divided into three distinct sections:

  •  Part I – Pandemic Mitigation Tracking – specifically quantifies hours associated with preventative measures such as training, health screenings, cleaning and disinfecting, job site access and administration instituted to minimize exposure.
  •  Part II – Productivity Benchmarking – specifically quantifies the reduction in direct work productivity related to social distancing rules, staggered shifts, reduced crew sizes, increased personal protective equipment requirements and related job site regulations.
  • Part III – Business and Project Impacts – specifically quantifies ancillary impacts experienced by most contractors who participated in this study.

Here are supporting documents and videos to make it easier to consume the information in the report:

 

Pandemics and Construction Productivity Report – Initial Findings
COVID-19 has had substantial impacts on many segments of construction and contractors have limited tools to measure the effects this is having on their businesses. This webinar shares the findings of a 5 week intensive ELECTRI research study that shows productivity impacts measuring pre and post pandemic results due to new safety requirements. This webinar also introduces tools to identify and quantify impacts on productivity that will serve as a starting point for negotiations.

Sign in to view webinar here
View webinar slide deck here

 

Pandemics and Construction Productivity Study Overview
This video will provide individuals with an overview of the report findings relating to productivity impacts as a result of new PPE requirements and social distancing guidelines.

Pandemic Mitigation Tracking Overview
This video will provide an overview of the report findings relating to lost hours on job sites as a result of new safety requirements.

Pandemics and Construction Productivity Study
This video will provide further details to help quantify productivity impacts by task as a result of new PPE and social distancing guidelines.

 

Pandemic Business Impacts Overview
This video provides and overview of projects specific impacts that contractors are most frequently facing around the country.

Pandemic Business Impacts Contractors Interview
This video includes interviews with contractors sharing their personal stories of how their own jobs are being impacted by COVID-19.

Pandemic Change Order Calculator
This video will help contractors quantify their own project-related impacts by using the change order calculator which can be downloaded from the link below video.

Change Order Calculator:
Download Calculator

Frequently Asked Questions

If you have questions please reach out to your local chapter executive. If they do not have an answer to your question reach out to

Ryan Courtney – ryan.courtney@necanet.org

or

Josh Bone – josh.bone@necanet.org

 

PANDEMICS AND CONSTRUCTION PRODUCTIVITY: QUANTIFYING THE IMPACT – Final Version

A pandemic can have far reaching impacts on the U.S. economy. Companies in once successful industries across the United States have felt the immediate impact of the current pandemic in the most devastating ways.

Early measurements of the impact of this pandemic suggest that construction productivity has been impacted by nearly 20%. A rule of thumb for self-performing contractors is that a 10% impact on productivity results in a 100% impact on profitability. As such, contractors need to consider seriously the impact of this study on their profitability and seek equitable adjustments that adequately compensate them for the impact.

This study is divided into three distinct sections:

  •  Part I – Pandemic Mitigation Tracking – specifically quantifies hours associated with preventative measures such as training, health screenings, cleaning and disinfecting, job site access and administration instituted to minimize exposure.
  •  Part II – Productivity Benchmarking – specifically quantifies the reduction in direct work productivity related to social distancing rules, staggered shifts, reduced crew sizes, increased personal protective equipment requirements and related job site regulations.
  • Part III – Business and Project Impacts – specifically quantifies ancillary impacts experienced by most contractors who participated in this study.

Here are supporting documents and videos to make it easier to consume the information in the report:

Pandemics and Construction Productivity Report – Initial Findings
COVID-19 has had substantial impacts on many segments of construction and contractors have limited tools to measure the effects this is having on their businesses. This webinar shares the findings of a 5 week intensive ELECTRI research study that shows productivity impacts measuring pre and post pandemic results due to new safety requirements. This webinar also introduces tools to identify and quantify impacts on productivity that will serve as a starting point for negotiations.

Sign in to view webinar here

View webinar slide deck here

 

Pandemics and Construction Productivity Study Overview
This video will provide individuals with an overview of the report findings relating to productivity impacts as a result of new PPE requirements and social distancing guidelines.

Pandemic Mitigation Tracking Overview
This video will provide an overview of the report findings relating to lost hours on job sites as a result of new safety requirements.

Pandemics and Construction Productivity Study
This video will provide further details to help quantify productivity impacts by task as a result of new PPE and social distancing guidelines.

 

Pandemic Business Impacts Overview
This video provides and overview of projects specific impacts that contractors are most frequently facing around the country.

Pandemic Business Impacts Contractors Interview
This video includes interviews with contractors sharing their personal stories of how their own jobs are being impacted by COVID-19.

Pandemic Change Order Calculator
This video will help contractors quantify their own project-related impacts by using the change order calculator which can be downloaded from the link below video.

Change Order Calculator:
Download Calculator

Frequently Asked Questions

If you have questions please reach out to your local chapter executive. If they do not have an answer to your question reach out to

Ryan Courtney – ryan.courtney@necanet.org

or

Josh Bone – josh.bone@necanet.org

 If you found this report useful, please help us continue our mission by contributing to ELECTRI:

Click here to contribute to ELECTRI International