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This is where PayCrew's owners share what they've learned in their combined fifty years of industry experience.

 
May 16, 2018

Measurements that change behavior.

“The deepest craving of the human nature is the need to be appreciated.” William James This question has been asked in many different words on construction sites, but at the end of the day it means, “How’d I do today, Boss?” If I can answer that question with truthful, unbiased information, I have connected this person with his daily performance evaluation. One of two things will usually happen: either earning bragging rights or assessing the damages and learning from mistakes. Either way, truthful, accurate results create a crystal clear vision and mission for tomorrow! Let the conversations begin! This is where organizational learning happens intuitively. When frontline workers receive performance results daily and the results can be viewed by all […]
April 13, 2018

4 Reasons Why Employee Incentives Must Be Tied to Performance to give Serious ROI

Paychecks give employees a reason to get up in the morning and go to work. But long-term motivation that results in top-level, efficient work comes from the desire to improve. When you incentivize employees to give their best, you’ll get better work. But you can’t just offer pay raises based on years served or subjective annual reviews — they have to be tied to performance that measured in a non-subjective way in order to be effective. Here’s why. Competitive Nature. Most human nature is driven by competition. When you define acceptable performance metrics your feeding that competitive tendency each of us have. People want to outperform their fellow workers, and they want to outperform their past level of performance, especially […]
March 14, 2018

3 Simple Steps to Build Employee Trust

When employees trust a company, they stick around and give you their best. So how do you generate trust? There are 3 simple ways to earn your employees trust — basic human values that are easy to overlook, but essential in building loyal employees. Never mess with an employee’s money. Never ask an employee to do something that you couldn’t, shouldn’t, or wouldn’t do. Never lie to an employee. Most company owners would say they’d never break any of these principles, but many times we don’t realize we’re violating them because we don’t put ourselves in our employees’ shoes. For example, with Principle #1, how are employee hours collected? When overburdened supervisors are rushed for time and make reporting errors, […]
February 10, 2018

Using Phases/Cost Codes – Part 2 Collective Intelligence

“The goal of standardization is to create a measuring system that increases the collective intelligence of the entire construction industry including the craftsmen and apprentices.” – Lee Clark In Part 1, the following points were proposed as a “standard” to what is a Cost Work Code? Phases = areas, floors, buildings, etc. (Schedule, Sequencing) Cost Work Codes = footings, CIP walls, slab on grade, etc. (Production Measuring, Skill) Cost Classes = labor, material, subcontractor, etc. (Cost) The above represents a “standardization” of terminology for the construction industry that I believe would greatly improve our industry. What we lack is a process to measure the collective intelligence of everyone in construction. When I say “everyone” I am including the new hire […]
January 10, 2018

Using Phases/Cost Codes – Part 1 Standardization

“Until we “standardize” the terminology in our industry, the answer to the above question will be; Whatever any Accounting Software Company, Controller or Estimator wants them to be! Each one having different values.” – Lee Clark Before we try and answer the question, let’s briefly define the terminology. Cost Codes are specific types of work being done on a project. Examples of cost codes would be footings, CIP walls, and slab on grade. These generally resemble the CSI index in some form. The differences between companies using them will be in the amount of detail that they are trying to collect for these specific types of work. Generally I have found the detail is to complex for the field. Phases […]
October 24, 2017

Knowing these ratios will avoid serious problems down the road.

Financial indicators such as the liquidity ratios, leverage ratios, efficiency ratios and profitability ratios can be used to gauge the performance of your business. With the analysis of these ratios, you will be able to make the informed and right decisions for your business. The following are the top four types; Liquidity Ratios These are used to determine a company’s ability to pay off its short-terms debts obligations. Generally, the higher the value of the ratio, the larger the margin of safety that the company possesses to cover short-term debts. Examples; Current, Quick, Days of Cash, Working Capital Turnover, Under-billings to Equity, Cash to Over-billings. Leverage Ratios Companies rely on a mixture of owners’ equity and debt to finance their […]