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. ...

Succession and the 2024 Olympics as an Example
Succession in any job role should be looked at like the USA Team in the Mixed 4x400 Relay Race at the 2024 Olympics. This is especially true for ownership transitions for construction contractors. Learn more about this 4-step process.
Problem Solving Capabilities: From 3 Months to 3 Minutes
The first step of solving a problem is identification of the root-cause(s). That capability ranges from taking 3 months to 3 minutes. Understanding these ranges is the foundation of organizational structure, development, and succession readiness.
Planning for the Continued Decline of the Deep Expertise Age Band in Construction
Strategies and tactics for contractors to thrive despite the 25% decline in the "Deep Expertise" age band between 2015 and 2030. There are no magic bullets but there are proven processes that have been used before.