Construction industry experts remind us that the skills gap, though exacerbated by the pandemic, has been with us for nearly a decade. An aging workforce, declines in vocational education and limited training for specific skill sets, such as those needed in the craning and lifting sector, all contribute to the labor shortage. Applying best practices can close the gaps.
Dig In: Solving The Skills Gap
American Cranes and Transport observes that smaller companies can be more impacted by skills gaps then larger ones, since they can be without the resources to develop and retain talent. Recommended best practices include:
- Invest in talent development programs, including technology skill building to improve retention;
- Collaborate in the vocational educational sector to build new pathways into the industry; and,
- Embrace technology to save time and increase productivity.
Construction companies of all types and sizes across the country are leveraging Colonial Surety’s user friendly tech platform to save time and money while obtaining bid, performance and payment bonds easier, faster and with more confidence then ever. Get in on the action with The Partnership Account® from Colonial Surety. Why waste time trying to do new things the old way? Let’s get you armed for success now: contractors who complete a brief (we promise!) pre-qualification for Colonial’s surety line of credit even receive, for free, Dun & Bradstreet scores.Let’s go: Pre-qualify and Receive Free Scores Here!
Once approved for The Partnership Account® with Colonial, you’ll:
- Use your private Owner’s Dashboard® for a personal window into your underwriting profile. Review the statistical analysis of your financial statements and free Dun and Bradstreet scores, profitability, and more.
- Access a powerful online surety management system to issue bid bonds, order performance, and payment bonds, update work in progress, check your current and aggregate limits, view open and closed bid and performance bonds, and more.
- Clearly see your bonding limits, and always have direct access to our underwriter if you need the excess capacity to bid on a job.
- Protect the confidentiality of your bids—after all, no one’s in the middle when you do it yourself, right?
Come on: The Partnership Account®.
Action on the new rail tunnels needed to connect New York and New Jersey under the Hudson River finally appears to be poised to get underway with the federal government, New York and New Jersey agreeing to share the $11.6 billion cost of both building the new tracks and repairing the old ones. In fact, across the country, partnerships are getting many new transportation projects underway. There’s lots of tunneling in the works, with new equipment to expedite progress. Trains and planes are soon going to be zipping us around with greater ease than ever—and bids are going to be flying too. Not ready, yet? Come on— You could be digging in to lots of new projects with speed and confidence — knowing your bidding and financial information is secure. Let Colonial Surety help you get going:
Hiring For Growth?
As you win more contracts and hire more employees, Colonial Surety can provide you with affordable Employment Practices Liability Insurance (EPLI) too. In today’s complex work environment, mistakes or misunderstandings lead to lawsuits more frequently then ever. Judgments, settlements and legal fees are costly—and distract from business. Protect your business against a range of lawsuits including discrimination, benefits mismanagement, wrongful termination, harassment, retaliation and more. When you are armed with Colonial’s EPLI coverage, if legal issues arise due to your workplace practices, you’ll have access to employment law experts and dedicated claims personnel who work with top lawyers across the country to quickly and efficiently resolve claims. Learn more and secure Employment Practices Liability Insurance (EPLI) today!
Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!