Incentive Compensation for Contractors - Audience Question: When?

While an incentive program won’t turn around a completely bad culture, there is also no such thing as a perfect culture.

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

Here are the important prerequisites to have in place before getting started with an incentive program:

  • Does the team have trust in management’s integrity, using Brené Brown’s definition? 
  • Do the team members have a reasonable degree of trust between each other by the same criteria?
  • Would the team be able to withstand a reasonable mistake and still stick together?

If you have these basics in place, then your culture is good enough to start an incentive program. Start modestly and improve each year. Remember that education and communication have more to do with program success than the nuts and bolts of the program itself.

"The best time to plant a tree was 20 years ago. The second best time is now."

Chinese Proverb

Very applicable to incentive programs.


In this video series, Courtney Stearns, Sue Weiler-Doke, and David Brown discuss the most common questions we get from contractors about incentive programs, including a bunch of great questions from the audience.

This is Part 16 of a 20-Part Series


Topics Covered in the Series Include:

  • Alignment
  • Calculations
  • Prerequisites
  • Mitigating the Talent Shortage
  • Succession

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


Incentive Programs for Contractors
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 Programs for Contractors
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. ...

Last Planner System Overview
The Last Planner System (LPS) designed by the Lean Construction Institute (LCI) is the codification of the practices used by the best project teams. There are elements that EVERY contractor can use to improve performance. How can this help your company?
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.
Customer Strategy Intersection
Having an effective market strategy is the #1 thing a contractor can do to ensure sustainable and profitable growth. For your strategy brainstorm the following and look for intersections: