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Tackling the Labor Shortage: 
AI & Tech - Doing More with Less

Tackling the Labor Shortage: 
AI & Tech - Doing More with Less

June 6, 2024
|
7:30AM - 8:15AM PT

About the webinar

This session is a part of Construction Tech Talks with Lumber and Strategies Group.

The construction industry faces an unprecedented labor crisis, with skilled worker shortages threatening project timelines and profitability worldwide. 41% of the workforce is set to retire in the next 5 years. Discover how AI-powered workforce management can help construction companies boost productivity, reduce turnover, and maximize every worker's potential — all while doing more with less.  Learn practical strategies to streamline scheduling, optimize labor costs, and empower your teams through innovative tech solutions.

Agenda

Introduction to Business Planning
  • Understand the importance of having a business plan for your construction company.
  • Learn how a well-defined business plan can help you clarify your vision and objectives.
Market Analysis
  • Understand the role of market research in analyzing your target market and understanding customer needs and preferences.
Defining Your Services and Unique Selling Proposition (USP)
  • Learn how to identify the services you will offer and how they differentiate you from competitors.
Marketing and Sales Strategy
  • Understand what is involved with a strong marketing and sales plan to attract clients and generate leads.
Operational Plan
  • Learn the factors to consider when determining your business operations, including staffing, equipment, and supply chain management.
Financial Projections
  • What factors should be considered while creating financial forecasts, including revenue projections, expenses, and cash flow analysis?
Q&A Session

Agenda

Introduction
What is an EMR?
Why should contractors care about their EMR?
3 Proven tips to slash your EMR
Q&A Session

Agenda

Introduction
Strategies for Managing Finances in Construction - The MATT Method
The CEO’s Role in Business
  • Motivations
  • Objectives
  • The Critical 4 numbers every CEO should be watching
Project Lifecycles
  • Stage 1 - The Process of Building a Budget
  • Stage 2 - Managing the Project
  • Stage 3 - Project Post Mortem
Tying Projects into Overall Company Financials and Cashflow
Q&A Session

Agenda

Introduction to Project Management
The 7 C’s of the Project Life Cycle
  • Understanding the 7 critical phases of the project life cycle: Concept, Criteria, Configuration, Construction, Commissioning, Completion, and Closeout.
The Four Pillars of Construction Success
  • Deep dive into Budget, Schedule, Quality, and Safety.
  • Strategies to balance these pillars and ensure project success.
Building and Leading the Right Team
  • The dynamics of assembling and managing a strong construction team.
  • Roles, responsibilities, and the importance of communication and collaboration.
Preparing for Project Closeout & Owner Occupancy
  • Important steps to take when closing out the project and getting it ready for owner occupation
Q&A Session

Agenda

Introduction
Why should contractors build on social media?
What are the biggest benefits to building a social media presence?
How to build a social media strategy?
  • Why are you posting?
  • Who are you targeting?
  • What should you post?
  • Where should you post?
  • When should you post?
  • How should you go about doing social media?
Q&A Session

Agenda

Importance of Frontline Leadership in the Field
Process for Optimizing Safety & Production
Cheat Code for Overcoming Resistance to Change
Simple Method to Make Improvements Stick
Equipping Frontline Leaders
Equip your frontline leaders with the tools to:
  • Elevate standards of care for their team
  • Resolve production challenges efficiently
  • Cultivate buy-in
  • Spread the gains across teams
Q&A Session

Agenda

Welcome & Introduction
The Basics of 401(k) Plans
  • What is a 401(k) plan?
  • How it helps with employee retention and recruitment
Simplifying the 401(k) Setup Process
  • How Human Interest simplifies 401(k) for small and medium businesses
  • Key benefits and compliance support for construction companies
Affordability and Cost Breakdown
  • Cost breakdown overview
  • Affordability for small to mid-size companies
Q&A Session

Agenda

Welcome & Introduction
  • Background on the FAR, uniform guidance, and unique requirements for federal jobs
Davis-Bacon and Related Acts
  • Summary of Davis-Bacon prevailing wage and administrative requirements
  • DOL 2023 update to DBRA implementing regulations and ongoing legal challenges
  • Related development: Project Labor Agreement (PLA) mandate for large federal construction contracts
  • Compliance challenges and best practices
Buy America Requirements for Federal Construction Projects
  • Overview of domestic preference laws including BAA, TAA, the Buy America laws and BABA
  • Recent developments:
    • OMB’s BABA Final Guidance
    • Changes to the BAA implementation in the FAR and DFARS
    • FHWA proposal to eliminate its Buy America manufactured products waiver
  • Compliance challenges and best practices
Construction Contractor Ethics and Compliance Programs
  • Features of an effective ethics and compliance program, per DOJ’s Evaluation of Corporate Compliance Programs (updated Sept. 2024)
  • Requirements for federal contracts and federally-funded projects
  • Recent developments for federal grants and assistance: whistleblower protections; mandatory disclosures; debarment standards
  • Enforcement trends: bribery and kickbacks; collusive bidding (including an update on DOJ’s Procurement Collusion Strikeforce); False Claims Act
  • Compliance challenges and best practices
Q&A Session

Agenda

Overview of Georgia Retraining Credit
Qualifying Activities by Business & Employees
Professional Services & RTC Examples
Q&A Session

Agenda

Automating labor tracking and integrating with project management tools
Simplifying expense reporting for field workers with real-time tracking and automated submissions
How Fyle and Lumber enhance expense management for construction projects
Q&A Session

Agenda

Overview of Topic
  • Importance of job costing in construction.
  • How accurate cost tracking impacts profitability.
Defining Job Costing
  • What is Job Costing?
    • Explanation of job costing and how it works.
  • Key Components of Job Costing:
    • Labor, materials, overhead, and indirect costs.
The Role of Accurate Cost Tracking
  • Why Cost Tracking is Critical to Profitability:
    • Avoiding under- and over-estimation of project costs.
  • Common Pitfalls in Cost Tracking:
    • Manual errors, untracked changes, and ignoring overhead costs, lack of training
  • Tools and Software for Accurate Tracking:
    • Overview of popular software or tools used for construction cost tracking.
Analyzing Job Costs for Better Decision Making
  • How to Interpret Job Cost Data:
    • Understanding cost reports and trends.
    • What are the key indicators we’re looking for.
  • Key Metrics to Monitor:
    • Cost-to-complete, variance reports, and profit margin analysis.
  • Making Data-Driven Adjustments:
    • Adjusting processes based on cost analysis
Tips for Contractors to Master Job Costing
  • Practical Tips to Improve Cost Tracking:
    • Training the team, improving communication, leveraging technology.
  • Integrating Cost Tracking with Project Management:
    • Ensuring cost data informs broader project decisions.

Agenda

Overview of Construction Contracts
  • Why contracts are essential to project success.
  • The impact of well-drafted contracts on profitability and risk management.
Key Terms Every Contractor Should Know
  • Overview of crucial terms such as scope of work, payment terms, and schedule.
  • How these terms impact your rights and obligations.
Common Contract Clauses and Their Implications
  • Indemnity clauses: What they mean and how they can impact your business.
  • Liquidated damages: Understanding their purpose and negotiating reasonable terms.
  • Change orders: Ensuring clarity and reducing disputes.
  • Termination clauses: Protecting yourself against unfair termination.
Negotiating Construction Contracts
  • Tips for negotiating contracts to minimize risk and maximize profit.
  • Understanding leverage points and how to use them effectively.
Identifying and Avoiding Contractual Pitfalls
  • Common mistakes contractors make when reviewing contracts.
  • How to spot and address red flags before signing.
Implementing Proactive Contract Management
  • Best practices for staying on top of your contractual obligations.
  • How to track compliance with key contract provisions.
Actionable Tips for Contractors
  • Practical advice for improving contract review and negotiation skills.
  • Leveraging professional advice when needed to safeguard your business.
Q&A Session

Agenda

The Future of Construction Finance: AI’s Role
  • Explore the current state of construction finance and how AI is driving innovation in project cost management and payroll.
Revolutionizing Project Cost Management with AI
  • Leveraging AI to streamline budgeting and forecasting
  • Predictive analytics for better cost control and risk management
Simplifying Payroll & Compliance with AI
  • How AI-driven payroll systems reduce administrative burden
  • Real-time compliance tracking with AI technology
AI Tools in Action
  • Live demo of AI tools developed by Lumber and Premier
Q&A Session

Agenda

Introduction
  • Who I Am & How I Got Here: Not an attorney—learned contracts by necessity.
  • Why Contracts Matter: It's not if something goes wrong, it's when—prevention is cheaper than fixing a dispute later.
  • You Don’t Need to Be a Lawyer: Knowing your work + contract basics = great business management.
Key Contract Red Flags (with Scenarios & Best Practices)
  • Insurance: Verify contract requirements match your policy before signing.
  • Payment Terms: Watch for unreasonable payment terms, retainage, and offsets.
  • Right to Stop Work: Ensure you can stop work for non-payment.
  • Terminations & Suspensions: Avoid termination without compensation, with or without cause.
  • Indemnity: Limit your liability to what you control.
  • Notice Requirements: Extend strict notice periods.
  • Delay Remedies: Protect yourself from liability on expected delays.
  • Liquidated Damages: Narrow the application of LDs.
  • Consequential Damages: Exclude special, indirect, or consequential damages.
  • Hazardous/Concealed Conditions: Disclaim responsibility for pre-existing issues.
  • Dispute Resolution: Ensure reasonable dispute locations.
  • Flow Down Clauses: Have you read your whole contract or complied with all of it?
  • Scope Check: Check the scope and anything that could expand it without your say so in the t’s and c’s.
Conclusion
  • Final Tips: Read your contracts, make a checklist, and stay curious!

Agenda

Construction-Specific Tax Challenges
  • Mobile workforce complexities across jurisdictions
  • Industry-specific compliance pitfalls
  • Cost impact of non-compliance
Streamlining Multi-State Tax Operations
  • Navigate the complexities of multi-state operations with confidence.
  • Learn how to efficiently manage compliance across various jurisdictions, ensuring you're meeting each state’s unique tax requirements while minimizing risk and maximizing operational efficiency.
Automating Compliance and Reporting
  • Learn how technology can streamline compliance and reporting processes to save time and reduce errors.
  • Manage multi-state withholding seamlessly.
  • Automate certified payroll and prevailing wage compliance.
  • Simplify digital documentation for faster, accurate reporting.
Leveraging Real-Time Data for Strategic Decisions
  • Learn how accessing live data helps you make informed, proactive tax decisions.
Q&A Session

Agenda

Identifying Hidden Costs
  • Discover the common areas where construction businesses overspend, from materials to insurance, and how to spot savings opportunities.
Negotiation Strategies That Work
  • Learn how to renegotiate vendor contracts, optimize supplier relationships, and get the best deals without sacrificing quality.
Streamlining Operations for Profitability
  • Explore ways to improve efficiency, reduce waste, and implement cost-saving processes in day-to-day operations.
How to Get Started with Cost Reduction
  • Practical steps to assess your business expenses, take control of costs, and build a more profitable, financially stable company.
Q&A Session

Agenda

State of the Labor Shortage
  • Why it’s a growing concern and what it means for your business.
AI in Workforce Management
  • Automating time tracking, scheduling, and compliance to reduce admin headaches.
Optimizing Labor Costs
  • Using real-time analytics to make better hiring and workforce allocation decisions.
Empowering Your Team
  • Leveraging AI to improve communication, engagement, and retention.
Q&A Session

Speakers

Expert Guest
Daniel Collins
President,
Strategies Group
Strategies Group

Daniel attended Beloit College in Wisconsin, where he earned his Bachelor’s degree. With a strong educational foundation, he has become a dedicated professional known for providing valuable, scalable solutions and effective automation to address common issues that clients encounter. Daniel’s commitment to enhancing efficiency and productivity has made him a trusted partner for clients seeking innovative and practical solutions. When Daniel has free time, he finds joy playing board games and tinkering with tools. He is a loving husband and a devoted father to three children, with the added joy of a loyal pet German Shepherd.

Expert Guest
Lou Perez
Founding Member,
Lumber
Lumber

From sports to carpentry to ownership, Lou Perez's journey has shaped him into a versatile professional with a diverse skill set. At Lumber, Lou leads a high-performance sales team, driving sales and revenue growth and delivering innovative solutions to transform the construction industry. With firsthand experience as a former carpenter, he understands the industry's challenges intimately.

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