This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Widely Observed Safety Programs Used At Large Contracting Firms But Smaller Firms Lag, According To McGraw-Hill Construction Study

Stocks in this article: MHP

NEW YORK, April 18, 2013 /PRNewswire/ -- Contractors are reporting high use of safety practices, but fully-inclusive programs are not yet taking place in smaller firms, according to a new study by McGraw-Hill Construction on safety management in the construction industry.

Ninety-two percent of firms with over 500 employees report having fully inclusive and widely observed safety programs, but smaller firms lag with nearly half, 48%, reporting the same. However, individual safety practices are widely adopted across the industry demonstrating an awareness of the importance of safety programs — 60% of contractors report that they use eight of 15 practices included in the survey. The most widely used practices demonstrate the value construction firms place on bringing safety practices directly to jobsites:

  • Including jobsite workers in the safety practice (80%)
  • Analyzing potential site safety hazards before construction begins (78%)

"These results show the industry is concerned about safety and making clear strides to help manage it, but owners need to help drive smaller firms to incorporate the same level of holistic investment that larger firms are currently able to make," says Harvey Bernstein, vice president of Industry Insights and Alliances with McGraw-Hill Construction. "Our study results reveal that the industry knows what to do; it just needs the tools and incentives to do so."

In fact, the industry reports that business factors, such as insurance costs (78%) and liability concerns (77%) play a strong role in contractors' decisions to invest in safety practices. And 78% of the industry believes that reduced insurance rates due to better safety records will drive wider adoption of safety management practices in the future. With business factors having such a strong influence, many players in the construction industry beyond contractors can clearly impact the goal of making the construction sector safer.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs