News

Tips to Decide if You’re Ready to Switch Career Paths
When you’re looking for a new job, chances are you’re unhappy with your current situation for a number of reasons. Maybe it’s a poor manager, or you’re looking to make more money in your next role. However, you may also feel that, deep down, you’re simply on the wrong career path for yourself and you…
2019 Salary Survey Results
In an effort to combat the skills gap in fluid power and other industries, Fluid Power Journal, in collaboration with the International Fluid Power Society (IFPS), established an online salary survey in order to create a baseline resource for professionals. Thank you to the participants! Here are the results. Source: Fluid Power journal
The No. 1 recruitment metric employers track when assessing a new hire’s effectiveness
After completing multiple rounds of interviews and presenting a job offer to a promising candidate, the work has in many ways just begun. Now that the new employee is starting at your organization, it’s crucial that you help ensure their success. Before that process begins, you’ll also want to determine whether you can effectively track…
Employment Summary for April 2019
For the first third of 2019, the American economy has continued its winning streak. Job growth kept momentum in April that was in sync with the surge seen during March, after a decline in February that, by now, seems more like an anomaly than anything else. According to the latest edition of the Employment Situation…
Ensure Your Job Application Process Isn’t Eliminating Top Talent
Take a look around, almost everywhere you go it seems everyone is on a mobile device. These mechanisms provide us with 24/7 access and the ability to instantly connect to work, and almost every aspect of our personal lives. It should be no surprise then that candidates expect this same convenience when applying for a…
Employment Summary for March 2019
After a wild divergence in U.S. job growth during the first two months of 2019 – more than 300,000 in January and a mere 20,000 in February – March seemed much more in line with America’s average pace of labor-force expansion. According to the latest edition of the Employment Situation Survey issued by the Labor…
How to Craft a Strong Change Narrative for Your Company
When your company is undergoing major change, it can be a tough transition for everyone, especially your organization’s employees. After all, they may be wondering how the company’s transformations will affect them, their roles, responsibilities, co-workers, leadership and other aspects of their lives in the coming months. Click to watch the video. To help dispel…
Global Demand for Off-Road Equipment to Reach $471B in 2019
Global demand for off-road equipment is forecast to reach $471 billion in 2019, rising 6.5 percent from 2018 levels.Countries in the Asia/Pacific region will account for nearly half of sales gains — despite only modest advances in the massive Chinese market, where demand for mining equipment is expected to fall slightly after two years of…
Employment Summary for February 2019
The past year of economic growth in the U.S. undoubtedly galvanized expectations among the country’s political and business leaders regarding what the early months of 2019 would bring. Although January brought a massive infusion of new jobs among multiple sectors of the American economy – 311,000 positions, according to the Bureau of Labor Statistics –…
Attracting Millennials & Gen Z to Heavy Equipment Industries
With Millennials now representing the largest generational segment of the U.S. labor force and Generation Z poised to enter the labor market, the question of how traditional industries can attract these younger workers has become increasingly critical. From misperceptions of what these generations expect in a career to missteps in adjusting their internal structures and…
Global Demand for Farm Tractors to Increase 5.5% Annually Through 2022
Global demand for farm tractors is forecast to climb 5.5% annually to $59.1 billion in 2022.The use of tractors in most industrializing nations will advance at a strong pace because they represent the most basic type of agricultural machinery and are typically the first machines purchased when an agricultural sector mechanizes, due to their ability…
Rental Revenue to Top $70 Billion in North America by 2022, ARA Predicts
The latest five-year forecast from the American Rental Association calls for equipment and event rental revenues in North America to surpass $61.5 billion in 2019, including $55.8 billion in the United States and $5.7 billion in Canada, up 5.3 percent compared to 2018, ARA announced at its annual trade show today. Similar steady growth is…
Key Employment Trends Poised to Impact Your Business in 2019
The U.S. workforce experienced historic gains in 2018 as more than two million jobs were added, and wage increases began to accelerate, according to the monthly ADP National Employment Report® and quarterly Workforce Vitality Report. The unemployment rate stood at 3.7 percent in November, a near 50-year low, which made it difficult for companies to bring in both…
Employment Summary for January 2019
The first month of 2019 picked up where 2018 left off in terms of job growth in the U.S., with the number of nonfarm payroll jobs added by American businesses surpassing the strong figure seen last December: Per data from the Bureau of Labor Statistics’ latest Employment Situation Summary, U.S. organizations brought on 304,000 new…
How leveraging training programs can attract and retain star employees of all ages
How leveraging training programs can attract and retain star employees of all ages The While many employees may be comfortable in their current roles, it’s probably safe to say that most top talent want to continually advance in their career. Regardless of whether the goal is to be promoted within a company, or simply stay up-to-date on new…
Building an Effective Fluid Power and Mobile Equipment Remote Workforce
The nature of the modern workforce is rapidly changing and the  fluid power and mobile equipment industries are not immune to this evolution. A combination of a more global workforce and an increasingly tight labor market have accelerated the need for companies to develop and implement remote workforces. Unfortunately, resistance and misunderstanding have led many…
How to Modernize Your Employee Review Practices
In today’s lean, fast-changing world, traditional business practices are being shaken up. Many companies are reviewing their long-held traditions in favor of more agile, responsive ways of improving the employee experience. They are giving more consideration to the physical environment employees work in as well as the practices, technologies and tools that encourage productivity. Changes…
Key Employment Trends Poised to Impact Your Business in 2019
The U.S. workforce experienced historic gains in 2018 as more than two million jobs were added, and wage increases began to accelerate, according to the monthly ADP National Employment Report and quarterly Workforce Vitality Report. The unemployment rate stood at 3.7 percent in November, a near 50-year low, which made it difficult for companies to…
A Scientific Approach to Better Hiring
Most companies have endured the damage of a bad hire. From the time and money spent onboarding a new hire to the negative effects on productivity and morale, the impact of placing the wrong talent can resonate long after that employee has been released. According to a 2012 survey conducted by CareerBuilder, one in four…
Adaptive Hiring Strategies for an Evolving Talent Market
The market for specialized talent has been tightening for nearly a decade. In addition to an economy on the rise, rapidly evolving technologies and shifting definitions of the labor market itself only serve to further exhaust what seems to be a dwindling supply of properly trained and educated professionals. The fluid power and mobile equipment…
North America Rental Revenues to Top $71.7 Billion by 2022
ARA predicts a 7.6-percent year-over-year rise in rental revenue in 2018 and another 5.5 percent in 2019. (Pictured is American Rentals, No. Long Beach, Calif.) The American Rental Association (ARA) five-year forecast updated in late October now forecasts equipment and event rental revenues in North America to exceed $71.7 billion in 2022, including $65.4 billion in the United…
New Construction Starts in 2019 to Hold Steady with 2018
Dodge Outlook Report Predicts Deceleration in Total Construction Growth Will Continue, Reflecting a Mixed Pattern by Project Type NATIONAL HARBOR, MD – October 25, 2018 – Dodge Data & Analytics (https://www.construction.com) today released its 2019 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts…
Road Construction
Equipment Leasing and Finance Association Reports Overall Business Volume at $8.9 Billion in August
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index reported their overall new business volume for August was $8.9 billion, up 14 percent year-over-year from August 2017. According to an ELFA press release, volume was up 9 percent from $8.2 billion in July. Cumulative new business volume was also up 5 percent…
Employment Summary for August 2018
Employment Summary for August 2018 August was a strong month for employers across most segments of the U.S. economy, particularly in the wake of a July performance that notably underperformed the expectations of economic analysts, businesses and governments alike. According to the latest Employment Situation Summary from the Bureau of Labor Statistics, American nonfarm organizations…
4 takeaways on the economy from Alan Beaulieu’s IEOC presentation
Dr. Alan Beaulieu of ITR Economics gave his usual entertaining and fact-filled talk at the National Fluid Power Association’s annual International Economic Outlook Conference this month. Beaulieu stressed that despite all the fervor, the economy unfolded in a predictable manner — and the economy is bigger than Washington, D.C. He pointed out that the average…
Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
July New Business Volume Up 4 Percent Year-over-year, Down 10 Percent Month-to-Month, Up 4 Percent Year-to-date Washington, DC, August 23, 2018—The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for…
Employment Situation Report
Employment Summary for July 2018 The job gains initially estimated by the U.S. Bureau of Labor Statistics for June were recalculated from 213,000 to 248,000. As such, some economists consider the total increase in nonfarm payroll employment for July – 157,000 jobs – an even more significant decline from June’s numbers. Other analysts see it…
CONSTRUCTION EMPLOYMENT REACHES 10-YEAR HIGH AS INDUSTRY ADDS 19,000 JOBS IN JULY AND 303,000 FOR THE YEAR; INDUSTRY UNEMPLOYMENT SETS RECORD LOW
Construction Officials Say Firms Would Likely Have Added More Workers if they Could Find Them, Urge Education Officials to Do More to Encourage Students to Consider High-Paying Construction Careers Construction employment increased by 19,000 jobs in July and by 303,000 jobs over the past year, reaching a 10-year high, while the industry’s unemployment rate and…
Why Creativity Is A Secret Weapon In Sales
Creativity is a trait not often associated with sales professionals. Instead, the sales profession is commonly associated with routine activities such as cold calling and hitting increasingly challenging quarterly quotas. The most effective sales professionals avoid routinizing their approach to sales. They leverage their creativity to gain a leg up on competitors. The payoffs can be…
Builders confident the market will remain hot
Jul 24, 2018 Confidence among construction professionals stems largely from their expectations that Americans will continue to be interested in buying homes in the short and long term. Given the pace of home sales over the past several years – with prices consistently climbing on a year-over-year basis, according to data from the National Association of…
Construction Spending Reaches Record High With 0.4 Percent Pickup in May
Construction spending reached a record level of $1.309 trillion in May as monthly increases in residential and public investment outweighed a decline in private nonresidential outlays, according to an analysis of new government data by the Associated General Contractors of America. Association officials warned, however, that continued labor shortages and rising materials costs threaten future…
The Importance of Strong Employer Branding During the Interview Process
In today’s competitive hiring landscape, companies need a cohesive and well-defined brand to help them stand out from other businesses that are also hoping to attract top talent. Many companies spend considerable resources developing their corporate website and social media presence to reflect their brand. However, what some organizations don’t realize is that a company’s…
Equipment Leasing Industry
EQUIPMENT LEASING AND FINANCE INDUSTRY CONFIDENCE EASES FURTHER IN MAY
70.4% of survey respondents expect economy to stay the same for next 6 months The Equipment Leasing & Finance Foundation (the Foundation) releases the May 2018 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as…
How Important is Social Media in the Hiring Process?
Remember when screening a candidate past the interview stage was limited to references and a credit, background or drug test? The growth of social media has introduced another dimension to the hiring process – that while on the surface appears positive, can present challenges in gaining a clear picture of a candidate – both socially…
ELFA MARCH MONTHLY LEASING & FINANCE INDEX UP 18%
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) showed overall new business volume for March was $9.1 billion, up 2 percent from March 2017. Volume was up 18 percent from $7.7 billion in February. Year to date, cumulative new business volume was up 12 percent compared to 2017. Receivables over 30…
Equipment Leasing Industry
DODGE MOMENTUM INDEX CLIMBS 6.1% IN MARCH
The Dodge Momentum Index moved 6.1 percent higher in March, rising to 155.0 (2000=100) from the revised February reading of 146.0. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. March’s gain…
Q2 OUTLOOK FORECASTS 8.5 % GROWTH IN EQUIPMENT & SOFTWARE INVESTMENT
After solid growth in 2017, investment in equipment and software will likely continue to strengthen in 2018 and is projected to expand 8.5 percent (down slightly from 9.1 percent in the Economic Outlook published in December) according to the Q2 update to the 2018 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing &…
First Friday Preview April 18
  How company benefits and incentives can drive employee engagement Recruiting and retaining top talent has a lot to do with the benefits and incentives offered at your company. Today, it can be difficult to discern what it is that really attracts employees, and then what continues to motivate them once they’ve been hired. There…
Employment Summary for March 2018
Employment Summary for March 2018 The pace of job growth in the U.S. slowed down somewhat during March 2018, by comparison to the month before. On a general level, indicators for this period continued to exemplify the sustained boom of the American economy. Nevertheless, some concerns exist among business leaders and economic experts regarding what the…
Equipment Leasing Industry
March equipment leasing & finance industry confidence index eases
The Equipment Leasing & Finance Foundation has released the March 2018 Monthly Confidence Index for the Equipment Finance Industry which is designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the…
Global Construction Equipment
Global equipment sales surge
Global construction equipment sales rose 28% last year to almost 895,000 units, according to specialist forecasting and market research company Off-Highway Research. This was the highest the market has been since 2012, and was a marked turnaround from 2015 and 2016 when worldwide equipment sales bottomed-out at 700,000 units. China was a key driver of…