Contractor's Daughter
Stagnation can be a heavy burden for companies in the highway industry. Being stuck in neutral means falling behind competitors, missed opportunities, and unfulfilled growth potential.
Break free from the cycle of stagnant growth and accelerate down the highway to success with the right guidance and shared insights from other industry leaders and influencers.
Jeani Ringkob is a third generation contractor and an absolute business strategy and marketing geek. Subscribe today to catch all the insights and growth your business.
Contractor's Daughter
How to Create Great Incentivized Compensation Packages for Your Construction Employees
You’ll be hard-pressed to find anybody who doesn’t like rewards. Having incentives in compensation packages for your employees helps you grow your highway construction business. You increase the likelihood of hiring and retaining workers who’ll want to show up consistently and perform their best, stay and evolve with the company, refer others, and more.
However, you might need to get creative and think outside of the box a bit. And you need to avoid some of the pitfalls and challenges when coming up with incentives you want to give workers.
In this episode of the Contractor’s Daughter podcast, you’ll learn about common mistakes with compensation inside the industry, key components of creating successful incentive packages, and how to structure incentives for different employee roles within your organization. I’ll also teach you how to measure the impact of the compensation you offer to your workforce.
4:45 - The two biggest things you need to think about before taking on the challenge of crafting incentivized compensation packages
6:01 - Common mistakes that construction companies make with the compensation they offer
11:13 - Key components of successful compensation packages and some ideas you can use, including non-monetary examples
18:24 - How you can tailor incentives to benefit people in specific roles inside your construction company
23:08 - Ideas for evaluating the effectiveness, satisfaction, and appeal of your compensation packages
Mentioned In How to Create Great Incentivized Compensation Packages for Your Construction Employees
Workforce Strategy Health Assessment
Mixed Signals: How Incentives Really Work by Uri Gneezy
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You can also schedule a call with Jeani to learn more about building and marketing your heavy highway construction business and access videos and free resources on the StoryBuilt.Marketing website.
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