Incentive Compensation for Contractors - Mitigating the Talent Shortage

There’s not much better than a great incentive program to recruit, retain, and develop people.

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Contributors Sue Weiler-Doke David Brown

The talent shortage is very real and is hitting the construction industry harder than ever.

The Baby Boomers are retiring from the industry and Millennials are showing little interest in a career in construction. A great incentive program can be the differentiator in recruiting new employees to the industry.

Great incentive programs can include cash-based incentives, such as production-based payouts or bonuses, as well as non-cash-based incentives, including continuing education, personal and professional development, professional certification advancement, and leadership training.

Employees that are developed both personally and professionally are happier in their career choice and are more likely to remain engaged at their current role with their current employer.

The larger intangible that many organizations fail to realize is how a great incentive program helps them become better planners of the people that they want to work there. This helps them plan for the right people in the right place at the right time.


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 7 of a 20-Part Series


Topics Covered in the Series Include:

  • Culture
  • Union vs Open
  • Prerequisites
  • Alignment
  • Types of Programs

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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. ...

Incentive Compensation for Contractors - Prerequisites
From Stephen Covey’s top selling book, “Seven Habits for Highly Effective People,” Habit #2 is to “Start With The End in Mind.” This principle applies to organizations in general and incentive programs in particular.
Contractor Exit Strategy 2 of 6: Pass Down to Family
Contractor Exit Strategy 2 of 6: Pass Down to Family. This is a very common strategy for contractors and is successful for those with interested family member(s) who are effectively working in leadership roles.
Bill Walsh - Planning the First 25 Plays
Construction success depends on both the ability to rigorously plan as well as the ability to quickly react to changing field conditions. This is similar to sports and a lot can be learned from the disciplines of great coaches.