What does another Trump term mean for construction?
What do the election results mean for the construction industry? And more specifically: What will four more years of President Trump look like? We delve into it today. Plus: Who made the cut on this list of 40 construction leaders under 40?
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Here's a peek at what's in today's issue:
// Presidential policies that impact the industry
// How to lead through change
// OSHA updates construction FAQs
// A checklist for year-end close
>> Who we're following: Lydia Crowder (@drywallshorty). on Instagram. This drywall expert shares tips, hacks and other informative content.
>> What we're listening to: The Curious Builder podcast's CBUSA AI panel recap. In this episode, host and custom homebuilder Mark Williams chats with guests about the practical uses of AI and some of their concerns.
>> What we're re-reading: Joe Mull's 2023 book, Employalty: How to Ignite Commitment and Keep Top Talent in the New Age of Work, featuring tips for holding onto the employees who make your business go.
>> What's happening soon: BuiltWorlds' Offsite Construction Conference (Dec. 4-5). This event in Raleigh, N.C., convenes contractors, engineers, designers and material suppliers to explore issues and opportunities in offsite construction.
>> Just for fun: Customer woodworker Matt Outlaw shows you how to upcycle scraps into fun crafts, just in time for the holidays.
Trump II: Policies to expect from the president-elect
Now that the presidential election is settled, we can take a closer look at what the new administration might mean for the industry. PBS News Hour published an overview of the president-elect’s policy stances. Here are the most relevant ones for the construction industry:
- Increase road and bridge construction
- Reduce regulations on housing construction
- Repeal the ACA and its subsidized marketplace
- Begin “the largest mass deportation program in history”
- Extend the 2017 tax overhaul and lower the corporate income tax rate to 15%
- Remove Inflation Reduction Act levies that finance energy strategies that reduce climate impacts
- Place tariffs of 10% to 20% on foreign goods
Why it matters: With the Executive Branch back in GOP control, a friendly Supreme Court and a Republican-majority U.S. Senate, the incoming president can execute an agenda that has both positive and negative impacts on the construction and allied industries. Understanding what's ahead enables you to plan accordingly. (PBS)
>> Construction industry associations react to Trump victory
>> PCA economist's 2025 expectations for cement and construction
>> Tips for futureproofing affordable housing projects
>> One man visited 150 historic civil engineering landmarks
>> Why your applicant tracking system may be betraying you
Leadership Look: How to navigate uncertainty
The presidential election is over but uncertainty over the future continues – and businesses are not immune.
In a recent Harvard Business Review article, researchers Laura Empson and Jennifer Howard-Grenville outline strategies to help leaders guide their businesses and employees through change, including:
- Refocusing on where your company is today and where you want go
- Reaffirming your enterprise's core purpose and values
- Maintaining connections within the organization and between employees to foster "collective capacity"
"All storms ultimately subside, and the key to weathering them successfully has a lot to do with your preparation and judgment," the authors write. Leaders must acknowledge — and help their teams see — that "beyond the immediate anxiety and confusion...can be invitations to reflect, reach out, and reorient."
Why it matters: As the authors point out, "your role should be to provide colleagues with guardrails to hold onto as they build confidence in themselves and reassurance about the future."(HBR)
Quick Qs: OSHA updates construction FAQs
Check out the latest updates to U.S. Department of Labor's list of Construction Compliance Frequently Asked Questions. The revised version includes new topics and the most recent information you need to avoid violations and fines.
Why it matters: OSHA violations are costly. In 2023, the largest fines ranged from $200,000 to more than $1.8 million. Take a look at the 10 most frequently cited standards last year.
- 10 Weeks to Close Checklist Use this year-end close process developed by advisor Jill James to check off budgeting, compliance, taxes and HR tasks — and prepare for a strong revenue start to 2025.
- High-Strength Steel Wall Systems webinar Join this Nov. 19 Nucor session for everything you need to know about these building systems (meets the standard of NCSEA for 1.0 PDH for engineers).
- Overcoming Workforce Challenges in the Construction Industry Listen in to this episode of the Construction Leaders Podcast as industry entrepreneurs highlight the critical importance of resilience and continuous learning.
Thanks for reading today's edition! You can reach the newsletter team at thelevel@mynewsletters.co. We enjoy hearing from you.
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entrepreneursThe Level is written by Margot Lester and edited by Katie Parsons.
