Prevailing Wage: Knowing the Basics from the Right Partner
If you are running a construction business, you must have employed a lot of workers. All those workers are dependent on you when it comes to salaries, wages, and fringe benefits. If you think that the business is experiencing troubles when it comes to finances, it is understandable that you need to crosscut. However, you should not cross-cut the budget at the expense of your employees. Those people are certainly doing their best to serve the company to deliver the best services that are possible. If you will cut on their salaries and wages and never give their fringe benefits, they will not become productive. In fact, you will even violate the law.
You need to be careful this time because the law is permanent unless abolished or changed by the legislators. You need to find a partner company that will look into the needs of the company and the needs of the workers to have harmony in business. You would love to give what your employees desire according to the law, but you also need to look at the status of the company. You need to base your decision always to the prevailing laws.
You need to ask some of your friends in the business industry had they known some partner companies that will deal with prevailing wages and fringe benefits. For sure, they must have availed consultation services from them. In fact, some of their representatives are staying with them because they need to check the data from time and again. You would love to know from them the names of those providers. You need to copy the names immediately and look for some reviews. One of them would really have reaped the highest number of referrals.
You need to visit the website of that company to know all the things that they offer. For sure, they will not deal so much with the background of the company. They will deal so much about legalities that upon entering the site, you will see a discussion about the Davis-Bacon Act. If the project is federally-funded, then they need to receive an hourly prevailing wage that is in excess of $2000. You really need to be very particular about the fringe benefits because your workers are also very familiar with that. In fact, they have a lawyer that will be ready to represent them in court. Not only that, but they also have a union where everything about legality is being discussed.
You need to live in harmony with your employees. You need to tell them the status of your company without compromising their own wages and fringe benefits. The law has spoken and it should be followed. If you want the projects to be done very well, you need to provide them the right wages and fringe benefits according to the law. You need to have a good relationship with workers because it is the only way for you to have a prosperous construction business after all.