What You Should Know About Protecting Your Contracting Business
When it comes to the built environment, owners and client representatives depend on construction companies to make their plans a reality. Not only are you responsible for the erection of the planned facility, but you’re also expected to manage the job progress successfully. Safety and insurance protection are especially critical to project delivery and business health. Here are some things to keep in mind.
Safety is an important metric when it comes to project performance. Jobsites have several hazards that can lead to serious injury or worse. As a leader, it’s important to make sure workers have protective gear such as hard hats and goggles to protect them from site hazards. Moreover, it’s your responsibility to make sure crew members are trained to use heavy machinery and knowledgeable about working in dangerous environments such as confined spaces, ladders, and scaffolding.
Construction companies are exposed to several risks when it comes to doing business. From owners to subcontracts to vendors/suppliers, it’s important to make sure that your company’s interests are preserved when you enter into agreements with other entities. Consider retaining lawyers for contractors & subcontractors Seattle WA to help with contract review, litigation, and employment law compliance to keep things on the up and up.
No business risk management plan is complete without having the right insurance coverages. Contractors in particular are exposed to risks that are common to most businesses, as well as those that are unique to the construction industry. General liability, commercial auto, and workers’ compensation are policies you should have. It is strongly recommended that you also have coverages for professional liability, directors and owners, and builders’ risk for ongoing projects.
Successful construction companies take a comprehensive approach to business safety and protection. Your employees, clients, and partners rely on you to see to the safety, legal and liability needs of your company. Failure to manage these risks can threaten the future of your business.