As we continue to try everything to overcome the hiring challenges and labor shortage, we must carefully balance our focus and resources on other areas that may help us attract and retain talent. It is equally important to also focus on optimal use and management of existing resources.
When it comes to fire restoration, most companies think the big money is in the reconstruction side of the loss. However, the contents part of the claim has two to three times the net profit margins and can be completed in a fraction of the time. So why is this part of the industry so underserved?
David Dybdahl discusses the insurance picture for restorers’ business insurance over the next 12 months and suggest some adaptations to address impending changes in that risk picture.
Dr. Anirban Basu, chief economist with Associated Builders and Contractors, shares the latest construction confidence index and backlog indicator results, plus what they mean. He also covers a big area of opportunity for restoration and remediation contractors: adaptive reuse of existing structures.
Embracing the future of the restoration industry is as imperative as ever. At a time when finding skilled workers, retaining labor and adopting new technology are among the top challenges restoration companies face, the unique traits of Millennials and Generation Z pose great promise.
When small business performs poorly at making changes, mistakes are expensive and cost thousands of dollars, if not hundreds of thousands, in lost resources, time and good will.
Too often, cleaning and restoration entrepreneurs wear the label of “one-trick-pony” as they prance around the metaphorical “ring” with a poorly choreographed sales pitch, outdated equipment, a disgruntled workforce, simply in hopes of being seen and heard by prospective customers, insurance agents, adjusters, property managers and plumbers, while anxiously awaiting a referral reward.
I’m excited to expand on our popular Ask the Expert podcast with a subseries, called Real Stories in Restoration. It will capture the journeys of the people in restoration – how you got here, the work you do and tools you use, lessons learned, memorable projects, advice for industry peers, etc. I invite you to join me in sharing your story!
Dr. Anirban Basu, chief economist with Associated Builders and Contractors, points to what prospective employees want from restoration and remediation employers, thus how these companies might address their labor challenges.
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