Incentive Compensation for Contractors - Risks

The highest risk with any incentive program is the lack of a well thought out and systematic approach to either administering or implementing the program.

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

All programs will need to evolve, but frequent stops and starts to a program cause mistrust of leadership. All programs need to be developed with the end in mind.

What is it that the organization is trying to accomplish with this program? Is the program transparent and well communicated through the organization?

A rushed or short-sighted program may appear too top heavy or either too expansive or too narrow in members. Those that are not included may become disengaged and disruptive.

Incentive programs should have at least annual check ups to be sure that the program is still relevant to the organization. A part of this check up must include running scenarios over and over again to be sure the program is acting as an incentive for the behaviors that are really wanted.


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 11 of a 20-Part Series


Topics Covered in the Series Include:

  • Union vs Open
  • Mitigating the Talent Shortage
  • Prerequisites
  • Culture
  • Alignment

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


Incentive Compensation for Contractors - Risks
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 - Risks
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. ...

Growth or Attracting Talent
It’s not enough to just build work effectively - that is just what’s required to play in the game. Contractors seeking sustainable growth must have aggressive and balanced strategies for acquiring work and building talent.
Construction Robots and Capital
Dominance and even survival in the construction industry over the next decade will require a more intense focus on technology, capital and the talent that knows how to leverage both.
Building a Systems Development Team - Management
The CPM (Critical Path Method) of project management is very commonly used in the management of construction projects. CPM works very well when the components of the design and the project are mostly known to all responsible parties.