Managing Your BusinessMore Like This

For many companies in the construction industry, strategy updates happen like clockwork on a set schedule. In fact, 64 percent of architecture, engineering and construction (AEC) firms that have more than 250 people engage in some form of formalized strategic planning an average of every 3.5 years, according to data compiled from ParCons’ State of Strategy in the AEC Industry study. While such a disciplined approach to strategy may sound admirable, it may actually create an adverse effect on a business.

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Best PracticesMore Like This

For business development professionals, going the extra mile in sales without a clear definition of where they are headed only leads to working hard, but not meeting goals. To reach sales goals, business development professionals must know where they are going, and then follow a path that will take them where they want to go. That’s where strategic planning comes in. In the same way a roadmap helps plot out a journey, a strategic plan charts the course of how an organization will reach its sales goals.

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HiringMore Like This

Independent contractors and employees are not the same. Classifying a worker as an independent contractor, rather than an employee, may appear at first glance to result in financial savings and reduced liability. But the consequences of using one classification versus the other may mean the difference between tax obligations, compliance with regulations governing wages and discriminatory actions, obtaining workers’ compensation insurance and providing employee benefits.

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