‘C’ Connection

BUSINESS OUTLOOK

8.04.20

 

Hello Weifield Team,

It’s been a few weeks since my last update; I hope you are all doing well. As the world continues to change and adapt, our leadership teams meet every week to take on the significant issues that keep us moving forward.

During the last few Leadership L-10s (meetings), the team addressed the following items:

  1. Manpower drop off:  We are taking steps in operations to shift workload around and working on securing additional work.  This is ongoing, but we believe we have a solution to fix the most recent shortage.  For plan B, we are reaching out to industry partners if we need to loan people out for a short period.  Our objective is to keep everyone employed.
  2. Reward and Recognition:  Weifield wants to make sure we continue employee reward & recognition programs.  We are bringing back the boot truck to future Crew of the Month (COTM) winners, and we are providing gift cards to those individuals that were on COTMs that did not receive boots!
  3. Accounts Receivables: We addressed our increasing accounts receivable over 90 days.  As many of you know, cash flow is key to a contractor.  We came up with a solution, and this is being resolved in the next couple of weeks.
  4. 3rd Quarter Rocks (initiatives): We have been finalizing our 3rd quarter rocks, and we will soon distribute the Q3 Blueprint. We are making a point to add something around Community to address all of our core values.
  5. Paycheck Protection Program (PPP) Loans:  Many of you are aware we applied for and were granted these loans.  This was great news for the company as we didn’t know what was going to happen due to all the uncertainty and disruption from COVID, and the PPP loans were only available for a short period.  After receiving in June and many weeks of determining if we were truly eligible, we are returning 100% of the PPP funds back, as we do not feel we qualify for the forgiveness or the loan.  Our team has done a fantastic job of making sure we are financially secure, and we have been able to increase our headcount over 500 people.  Both disqualify us for the PPP funds.

We also want everyone to know how much we appreciate all that you’ve done and continue to do.  With social distancing and health mandates, we haven’t been able to thank many of you in person.  These are challenging and uncertain times for sure, and we are truly grateful to have all of you on the Weifield team.

I want those in the field to know that we are working hard in the office to make sure you are supported.  George Kettlewell has come into the new General Manager role during one of the hardest times in our history.  I’ve witnessed George working during his recent vacation to make sure things are getting addressed.  Mike Megara, our CFO, continues to work in the late hours of the day, every day.  Mike is committed to providing me and other information, so he stays late to get it done. Scott Cochran has been given a near-impossible mission with getting the recently awarded Colorado Convention Center expansion project (CCCX) into the budget, and I know they have been under stress and working day and night to get it done.  Tim Markham, our COO, worked through his recent vacation as well to make sure he gets things accomplished for our company.  This is just a few of the many people who work day and night, making sure we have work, you are supported and can successfully execute for our clients.

I want to hear who you are grateful for in the company and why.  (Being specific as there might be a surprise for the person you submit ☺).  Please email me back.  During times where the news isn’t positive, we need to recognize our successes to continue to move the bar and keep us human.

I am so thankful for our team and the leadership we have in the company. I am a PROUD Weifieldite!