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Time to Read
Time to Read
No one likes having to let a good employee go. As a business owner, you understand the responsibility you have to the families of all of your employees. More than most industries, construction companies often develop a family-like culture.
In our first article on Construction Downturn Strategies we looked at External factors and how you can position your service offerings to weather a downturn. Our second article discussed financial strategies to make your business healthier and better able to withstand a drastic reduction in revenue. In this third installment we will explore how to evaluate your internal resources as an exercise in measuring return on investment and preparing to make difficult decisions.
If having put cash aside and diversifying your business isn’t enough to weather a downturn and you need to look to reduce payroll, you should have a plan that ensures the company will still be able to function at a high level.
Like many of our clients, we are all being impacted by COVID-19. Luckily, we have been working remotely and virtually with our clients for years. Although we love to be on-site and work hands-on, we’re skilled at working with our clients remotely, allowing us to help when they need us most.
Have questions? Let us know how we can help support you and your business.