It’s a given that supply chain problems, higher prices, and inflation have caused myriad problems for our industry and New York City construction hasn’t been left unscathed. We’re still looking for solutions to ease us through trying times.
In a recent article “Thinking Ahead: Understanding the Hidden Risks in Your Backlog,” consulting firm FMI recommends clients simply stay close to your customers and understand what is driving your projects’ success. They advise, if possible, securing materials early to lock in prices and mitigate supply chain delays, but more important be sure to continually test and retest the viability of your backlog and understand each owner’s level of commitment.
Sound advice from recognized industry experts.
While we’re following that blueprint to navigate the twisting road to profit in 2022, let’s also consider the basic advantages of our association’s communications. After missing our annual convention last year, we are once again on track this year. We will be gathering at the outstanding Ritz-Carlton Key Biscayne, in Miami, Florida March 24 through March 28. It will be an opportunity to unwind and network with peers and enjoy once again our lively annual meeting. Please visit our website (wcc-ny.com) and make your reservations. Do it now.
This issue of Off The Wall features an article “Long disparaged, education for the skilled trades is slowly coming into fashion” authored by John Marcus of the Heckinger Report. In it he writes education for the skilled trades appears to be returning to fashion, according to enrollment trends, survey data and other signals. Though not specifically addressing the construction industry alone, it does relate directly to it. Marcus points to one trend reviving interest in education in the trades appears to be growing doubt among high school students and career switchers about the value of a four-year college; the proportion of high schoolers who are considering a four-year education has plummeted from 71 percent to 48 percent since the start of the COVID-19 pandemic, according to a survey by the ECMC Group, a nonprofit student loan guaranty agency that also operates three career schools. It is an interesting article and one you will enjoy.
Looking forward to seeing you at our Convention in Key Biscayne.