Incentive Compensation for Contractors - Succession

Succession planning works best when leaders of the organization spend time helping leaders at all levels to think as business owners.

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

This level of thinking includes cash flow and funding sources for all organizational planning.

Current owners and stakeholders need to be meticulous in determining if the current cash flow can support a robust incentive program. Any program that jeopardizes cash flow could ultimately be dangerous to the continuing operations of the organization.

Looking at funding through both a buying and selling lense helps current owners to secure their value stream and helps future owners to know that the organization is sustainable with and without the current ownership in place.


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 9 of a 20 Part Series


Topics Covered in the Series Include:

  • Who Benefits?
  • Calculations
  • Prerequisites
  • Culture
  • Next Steps

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


Incentive Compensation for Contractors - Succession
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 - Succession
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. ...

Cash Flow and the 5Cs of Credit - Conditions
The 5th of the 5Cs of Credit are the conditions for the loan, which is primarily what the funds will be used for. These conditions are here to protect the contractor as much as they are there to protect the bank.
Early Identification is a Process - Effectively Using Checklists
Few things will improve customer satisfaction, profitability, cash flow, risk, and team stress more than early identification of change orders. This is a process and a trainable skill. Checklists are some of the most valuable tools in that process.
Incentive Compensation for Contractors - Union vs Open
The wins of a great incentive program tend to be the same for both union and open shop employers. The wins not only include retention of the employees that you already have, but recruitment of new employees.