Recent history demonstrates that, more often than not, economic corrections are a certainty—and hindsight proves that the time to prepare for the next downturn is after a long period of sustained growth as we are now experiencing.
SMACNA is requesting that members share their thoughts and experiences by July 27 with their chapter executives on what labor and management need to work on together, so the industry can survive and thrive during challenging economic times.
Both small- and largesized businesses develop strategic plans that take economic downturns into account—so too should local industry leaders.
SMART General President Joseph Sellers and SMACNA President Jack Knox have therefore asked their local business managers and chapter executives to collaborate in an effort to work collectively on this important issue.
During these discussions, business managers and chapter executives should address the issues that contractors and local areas can work on to prepare for an inevitable downturn in the economy and the construction market— whether the downturn happens next year, in five years, or fifteen.
Just as it would be impractical for a firm to wait for a natural disaster to take place before preparing for one, members’ local areas can’t afford to wait for a change in the economy to develop a response plan.
Members are urged to engage in this process and share their thoughts with their chapter executives, so labor and management can work collaboratively to find solutions to this issue.
Members may find their chapter contacts under “Chapters” on the SMACNA website.
Members can read the Knox and Sellers memo here.