Which Strategies Have You Used to Maximize Your Company’s Performance?
In the February 2023 Snapshot Survey, we asked contractors about their strategies to maximize employee productivity. Here’s one survey question and its results from the summary report, which is available in it’s entirety by Contractor University members here.
Which Strategies Have You Used to Maximize Your Company’s Performance?
Performance-based pay (59%) and individual (56%) and departmental (53%) goals are the most commonly reported strategies for maximizing performance and productivity in contracting companies. These strategies provide clear targets and incentives for employees to improve their productivity and performance. Performance-based pay links pay to performance, motivating employees to work harder and achieve better results, resulting in increased efficiency and revenue. Similarly, individual and departmental goals provide clear targets for employees to work toward, enabling them to prioritize their tasks and improve their overall performance. By implementing these strategies, business owners can motivate their employees and achieve their performance and productivity goals, resulting in increased revenue and profitability for the company.
Here’s what an HVAC contractor from Washington:
“Our company is implementing an individual/team goal-based incentive system. We have incentives built into our new construction jobs, we track weekly performance per team or individual through inspection of job completions, and we communicate our goals through weekly meetings.”
