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BUSINESS NEWS NEW CONSTRUCTION STARTS IN APRIL SLIDE 8 PERCENT: NONRESIDENTIAL BUILDING, MULTIFAMILY HOUSING RETREAT AFTER MARCH GAINS The value of new construction starts in April fell 8 percent from the previous month to a seasonally adjusted annual rate of $608.3 billion, according to Dodge Data & Analytics. Nonresidential building pulled back following its sharp March increase, and residential building also declined due to a slower pace for multifamily housing. Meanwhile, the nonbuilding construction sector showed improvement, with public works strengthening after its lackluster March performance. Through the first four months of 2016, total construction starts on an unadjusted basis were reported at $198.4 billion, down 12 percent from the same month a year ago. The first four months of 2015 had been lifted by several exceptionally large projects, including three liquefied natural gas terminals with a total value of $15.4 billion and three large petrochemical plants with a total value of $11.9 billion, which substantially increased last year’s January-April amounts for the electric utility/gas plant and manufacturing building categories. If the electric utility/gas plant and manufacturing building categories are excluded, total construction starts during

the first four months of 2016 would be down a modest 4 percent from a year ago. April’s data lowered the Dodge Index to 129 (2000=100), compared to 140 for March. The Dodge Index had registered improved activity during February and March, averaging 141. April’s decline returned the pace of construction starts to what was reported during the July 2015-January 2016 period, when the Dodge Index averaged 129. “The construction start statistics on a month- to-month basis are subject to frequent ups- and-downs, so April’s decline after two months of improved activity was not a surprise,” stated Robert Murray, chief economist for Dodge Data & Analytics. “The elevated volume for nonresidential building in March was not expected to be sustained in the near term, yet the strength shown by its institutional segment in March does provide an indication of where growth is likely to come over the course of 2016. The prospects for the commercial segment of nonresidential building, while still positive, have grown more tenuous given signs that banks are beginning to take a more cautious approach towards commercial real estate loans. Residential building is still deriving some benefit from this year’s low interest rate

environment, and increased funding under the new federal transportation act should provide support for the public works sector.” Added perspective is made possible by looking at 12-month moving totals, in this case the 12 months ending April 2016 versus the 12 months ending April 2015. On this basis, total construction starts are down 3 percent, due to this performance by major sector – nonresidential building, down 17 percent; residential building, up 12 percent; and nonbuilding construction, down 7 percent.

RANDY WILBURN, from page 9

4) When possible, capture testimonials from your clients dis- cussing how your firm helped them out in some way. We can never have enough testimonials, and for some reason, when they’re on video they take on a life of their own. That’s a good thing. I heard an expression a long time ago that I use quite a bit: “It’s a pitiful Frog that doesn’t praise his own pond!” And in terms of touting your firm, it couldn’t be more appropriate. I know it may seem like a lot of effort for little return, but the reality is that you don’t know how effective you can be at marketing your company if you don’t at least try using video. Here is an example of a tech company, Shopify, on how you can make these videos informational and fun at the same time. Check it out here: youtu.be/XMRufdqpFnM “I know it may seem like a lot of effort for little return, but the reality is that you don’t know how effective you can be at marketing your company if you don’t at least try using video.” I wrote this article to get your creative video juices flowing. I would be more than happy to discuss these ideas with you further. Email me and we can chat more. RANDY WILBURN is director of executive search at Zweig Group. Contact him at rwilburn@zweiggroup.com.

One way to do this is by using video to highlight the benefits of working at your firm.

Here are four ways for you to create cool content that you can share with the outside world about just how great your firm is. You can use this content to engage and enlighten clients and future job candidates alike. 1) Create a YouTube channel for your company and start popu- lating your channel with short videos about your business. Things like the services you offer, what’s it like to be an em- ployee there, and plans you have for the future, are all appro- priate. 2) Document some of the activities that you do on a daily basis for clients. I would also include a “day in the life” type of video for a broad range of employees. I would also corral the CEO/ president and even another leader and feature them in a video. Especially those that are camera shy. 3) Highlight the extracurricular activities of your employees and the firm. Talk about the athletes in your organization and how you foster active lifestyles with gym memberships, and cycling or running groups. You should also consider discuss- ing some of the ways that your company gives back to the community at-large. “Imagine having your company information indexed and cataloged on YouTube for that next great employee who may be looking for a more engaging place to work!”

THE ZWEIG LETTER June 6, 2016, ISSUE 1155

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