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. ...

Higher Scores Aren’t Always Better: Percent Planned Complete (PPC) Example
Construction is full of competitive personalities - where more is always better. But that isn't always true. When setting targets, be careful that your goals don't have unintended consequences. Percent Planned Complete (PPC) shows why.
Issue 2 of 9: Culture
Construction Ownership Transition Issue 2 of 9: Is the Culture Truly Ready for Succession? Why does it matter to the employees what happens with succession? How does that impact value?
Quote about Winning - Bob Knight
There is an excitement about winning and definitely a need to instill that vision and passion in your team. This however is just the top of the mountain and reaching the summit is momentary. It's the discipline of preparing to win that is critical.