Employees are the backbone of every construction company. Their work makes the business successful, or it can sink the organization. Every individual in the organization plays a critical role in getting the job done.
Therefore you have to hire the right people for each position, support their job skills growth, and monitor their success toward meeting goals.
Incentive programs can motivate your employees to work well and remain with your company. A well-designed incentive program can also attract new hires.
Internal and external motivators for every construction company
Every construction company leader should take on the most essential challenge of running a business: taking care of their employees and motivating them to perform at their best.
Some business owners say, “I give them a paycheck every week. That should be thanks enough!” The paycheck is the minimum expectation, much like the building code you use in construction. It’s the least you can do. However, if you’ve ever asked employees to go above and beyond expectations, they’d like you to return the favor.
What motivates your teams?
Motivation can vary from person to person. Some of your employees are internally motivated. They want only to know that you recognize their value at your company.
External incentives motivate other employees. They want a tangible reward that comes with a few bragging rights.
Incentives your employees will appreciate
Offering meaningful and personalized incentives makes a difference in the construction industry. Of course, employees like to know that you appreciate their work. By customizing incentives to their interests, you’re showing how much you value each employee individually.
Try incentives and fringe benefits like these when your teams exceed expectations:
- Company-branded merchandise (hoodies, caps, shirts, cups)
- Gift cards (stores, restaurants, groceries)
- Air travel (vouchers, miles, upgrades)
- Entertainment tickets (movies, sports, concerts)
- Fuel cards ($100 and up)
- Electronic devices (headphones, tablets,
- Equipment upgrades (laptop, tools, truck)
- Paid trade organization membership
- Fixed monetary bonus ($500-$2500)
- Profit-sharing (a percentage of ROE, divided equally among the team)
Note: Profit-sharing can be especially rewarding across the board. PMs who keep change orders and delays to a minimum could earn bonuses while increasing company profit!
Incentives don’t even have to cost money to be effective. Meaningful strategies like these have proven effective:
- Late in/early out coupons
- Choice of next project
- Extra PTO
- Verbal recognition (private and public)
- Specialized training
- Advancement opportunities
Looking for more ideas? A construction recruiter can help you identify meaningful ways to reward and retain your best employees.