On January 5, 2023, the Federal Trade Commission (FTC) proposed a new rule that would restrict the use of non-compete clauses in employment contracts. Non-compete clauses are intended to prohibit employees from working for competitors of their current employer for a certain period of time after leaving their job. According to the overview of the... Continue Reading →
Some design firms have probably heard of ESG risks, which refer to environmental, social, and governance risk factors that can impact a firm’s performance, long-term value, and reputation. There is a common misconception that ESG risk factors are non-financial risks, which is inaccurate. In fact, many ESG risks pose significant financial consequences to businesses and... Continue Reading →
One of the biggest challenges faced by employers with remote workers is how to comply with wage and hour laws. While design firms have been able to classify many employees as “professionals,” they still have hourly non-exempt employees, including many who now work all or part of their hours at their homes. Federal law requires... Continue Reading →
While environmental, social, and governance (ESG) performance is increasingly becoming a focus in the design and construction industry, there remains quite a bit of confusion over the goals behind ESG and their impact on design firms. Some of the questions that seem to be percolating around ESG are: Is it about concern over profits? Is... Continue Reading →
Environmental, social, and governance (ESG) considerations are increasingly important to design firms for a variety of reasons. In this post, we will explore why ESG matters to design firms and how they can integrate these considerations into their projects and business practices. First, it's important to understand what ESG means. Environmental considerations relate to a... Continue Reading →
As 2022 winds down and we look back, the biggest story (other than the war in Ukraine) was the passage of the most historic climate law in US history, the Inflation Reduction Act (Act). The new law aims to transform the US economy to align with the global urgency of taking action to mitigate the... Continue Reading →
Earlier this year, the US passed the Inflation Reduction Act of 2022, with $369 billion in funding intended to cut climate pollution in half by 2030 (from 2005 levels). The private sector is also embracing capital-allocation strategies that take environmental, social, and governance (ESG) issues into account with their business practices. Over the next few... Continue Reading →
It’s that time of year when gifts among friends are common. If those friends are in private firms or public agencies, however, those gifts can cost both parties their careers. Even the appearance of impropriety can create a public relations nightmare. As federal money flows through state and local agencies, there is an increased danger... Continue Reading →
As part of its Report Card for America’s Infrastructure project, the American Society of Civil Engineers (ASCE) recently released a map of projects funded by the Infrastructure Investment and Jobs Act. ASCE created the resource in collaboration with economic development non-profit Accelerator for America to showcase the impact of the five-year federal investment. Firms can use... Continue Reading →
At Victor, our professional liability underwriters and risk managers are often asked how risk and professional liability changes for design firms using advanced digital technologies (such as generative design, DfMA (Design for Manufacturing & Assembly), VR/AR, BIM, Digital Twins, etc.). The simplest answer is that humans manage all technologies and the liability question and associated... Continue Reading →
