Incentive Compensation for Contractors - Audience Question: Cooling Off Period and Closing

Sometimes, any change in the organization, including incentive programs, simply doesn't work.

Courtney Stearns Profile Picture
Share
Contributors Sue Weiler-Doke Profile PictureSue Weiler-Doke David Brown Profile PictureDavid Brown

One of the hardest leadership decisions is making the decision to:

  1. Push forward knowing that the problems are momentary and the end objectives will ultimately be achieved if you stay the course.
  2. Make adjustments to the program and immediately give it another try.  
  3. Allow a cooling off period before executing either A or B, giving the team time to recover.
  4. Pull back and don’t move forward in that direction again.  

The challenge is that there is no single right answer for all situations.  

  • Leaders must know their teams and how resilient they are at this particular moment in time.  
  • Leadership is rarely about making decisions that are black and white - those are simple.  
  • Leaders must make tough directional decisions in the absence of complete information to move a team toward often fuzzy objectives.  

Test out your course of action based on talking to a few of your trusted team members at all levels and then decide. 

This is Part 20 of a 20-Part Series


Topics Covered in the Series Include:

  • Risks
  • Culture
  • Prerequisites
  • Succession
  • Types of Programs

All relationships start with a simple conversation. Let’s schedule some time to talk about your specific challenges and opportunities.


Incentive Compensation for Contractors - Audience Question: Cooling Off Period and Closing
Every successful and profitably growing contractor we work with has a comprehensive and integrated set of incentive programs in place at all levels of the organization. These programs reinforce the daily actions and behaviors that make them successful. ...

Incentive Compensation for Contractors - Audience Question: Cooling Off Period and Closing
Every successful and profitably growing contractor we work with has a comprehensive and integrated set of incentive programs in place at all levels of the organization. These programs reinforce the daily actions and behaviors that make them successful. ...

Problem-Resolution Cost Pyramid - Earlier is Always Better
An easy way to visualize the cost of problem resolution at different stages of construction is with this pyramid. The cost of the problem is the cost of the problem (1X). Finding it ahead of time minimizes the costs and maximizes customer satisfaction.
How Do You Prioritize?
This customer-first; projects-first focus is great in the earlier stages of development but starts to impact sustainable growth over time.
Site Logistics Manager
About 20% of the field labor hours are spent on material logistics and daily mobilization, demobilization to the work area. What if you could shift 5% of the time spent on logistics to installation while accelerating your foreman development?