There is a lot of uncertainty regarding how President Trump’s immigration and trade policies will affect the construction industry. In his Construction Today article, Partner Steven Cvitanovic discusses how businesses can remain competitive and profitable during this period of uncertainty, including updating contract documents, recruiting and retaining employees, and increasing cybersecurity efforts.
“If you do not know when your contract documents were last updated, it’s probably been too long,” writes Cvitanovic. “Unlike wine, contract documents only get worse with age.” Cvitanovic advises teams to sit down together and review contracts to see if they still meet the firm’s needs.
When it comes to a company’s recruitment and retention policies, Cvitanovic notes “a business is only as strong as its employees. Making quality hires, training them, and retaining them are therefore critical to the success of any organization.” He advises employers to ask themselves what they are doing to attract talent and keep them.
Lastly, Cvitanovic recommends protecting intellectual property by means of authentication or hiring a professional to assess computer systems, and ensuring that your computer network is reliable. “At the end of the day, no one knows what Trump will actually do, and what affect his actions (or inactions) may have,” Cvitanovic concludes. “In the first quarter of 2017 and beyond, [r]emember the pilot’s oath: no matter what happens, never stop flying the plane.”
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