Construction Risk Advisor - August 2018

SUCCESSFULLY DEPLOYING NEW TECHNOLOGY

Choosing new technology can be difficult for construction companies. It is easy to get caught up in the wow factor of technology and lose sight of what you’re hoping it will improve. Without a plan in place for deployment, you may be wasting your investment.

Before seeking out new technology, consider ways you can improve your processes. After improving your processes, you can identify gaps that new technology can address. No amount of technology will help if your processes are what need to be fixed.

There’s strength in numbers, so involve key employees early in the process. This is also a good time to identify potential leaders within your organization.

In fact, a recent McKinsey & Company study found that companies that invest in developing leaders during an organizational transformation are about two-and-a-half times more likely to be successful with their changes than firms that did not make the investment.

Those leaders can become champions for the technology who, in turn, empower the end user and help the technology do what it was intended to do.

Newsletter Provided by: Hierl's Property & Casualty Experts

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HOW TO ATTRACT MORE WOMEN TO CONSTRUCTION

Women only make up 9 percent of the construction workforce, according to the National Association of Women in Construction. That statistic highlights the fact that both parties are missing out on opportunities for a lucrative partnership within the industry.

Despite the lack of gender diversity, women have the potential to earn about 95.7 percent of what men make. Although it isn’t ideal, it beats the nationwide average of 81.1 percent across all industries.

Construction companies also benefit from hiring a gender-diverse workforce, as they’re 46 percent more likely to outperform the industry average, according to the Peterson Institute. But getting women interested in the industry can be a challenge. Here are steps you can take to attract and retain more women:

  • Create an inclusive work culture that values men and women equally.
  • Remove gender-biased words from job descriptions and involve female employees in the recruitment process.
  • Adopt benefits and work policies that promote a work-life balance and are family-friendly.
  • Create a diversity council with representatives from a mix of genders, positions and backgrounds.

Addressing the gender gap is an important step toward encouraging diverse talent to enter the construction industry. For more information on attracting and retaining a diverse workforce, contact Hierl Insurance Inc..


Manufacturing Risk Advisor - March/April 2018

Securing Supply Chains from Cyber Attacks

As connectivity in the manufacturing industry continues to increase due to technology, such as Internet of Things (IoT) devices, adaptive analytics models and cloud services, businesses may not be aware of new risk exposures in their supply chains. Even if your own business is secure, it’s possible for hackers to infiltrate a third-party supplier and use the information they gain to bypass normal security measures. Here are some strategies you can use to secure your supply chains from cyber attacks:

  • Clearly define the scope of liability in your contracts, and consider including language that protects you in the event of a cyber attack.
  • Conduct regular audits of your suppliers’ cyber security plans, especially if they rely on IoT devices or cloud services to conduct regular operations.
  • Create a contingency plan in case hackers target one of your suppliers. A quick response can help secure your own systems and limit any business interruptions.

Call us at 920-921-5921 today for more help managing your supply chain and improving cyber security.

OSHA Compliance Updates in 2018

Although the Trump administration’s emphasis on deregulation has limited the amount of new and updated OSHA standards, there are still a number of upcoming compliance updates that manufacturers should be aware of. The following is a list of anticipated compliance dates and other updates for 2018:

Manufacturing Grows Despite Widening Trade Deficit

The U.S. trade deficit rose to $566 billion in 2017, the largest such figure since 2008. The trade deficit measures the difference between a country’s imports and exports, and is often used as a general indicator of economic health. Despite the growing trade deficit, the manufacturing industry grew for the 17th consecutive month in January, according to a report from the Institute for Supply Management. The report attributed the growth to rising orders and increased productivity, but also noted that employment is growing at a slower rate.

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