Employee Incentives For Painting Companies
Pay crews for jobs that finish on budget
Painting company with up to $50 million in revenue? Here’s how to set up an incentive plan that protects job margins, cuts rework, and keeps your best painters coming back every season.
Employee incentives make a huge difference in painting
Painting profits disappear in small ways: an extra day on site, a redo on the punch list, materials that walk off the job.
A great incentive plan gives painters a share of what they protect, so hitting budgeted hours and passing the final walkthrough pays them too.
Here’s what to consider when building your painting plan
At ShareWillow, we’ve helped dozens of painting and home service companies create incentive plans that reward on-budget, quality work. Here are some tips to help you get started.
1.
Eligibility
Who should be a part of your plan?
Most companies only offer incentive plans to management. Individual employees tend to rotate in and out, while management will usually stay the same across projects.
2.
Calculations and payouts
How big should the payout be?
It’s best practice to choose your desired margin (usually around 15%), and only award a payout if you hit that threshold. You’ll have to determine what that payout looks like per employee (we can help, if you want it).
3.
Criteria and deductions
How do we keep track of performance?
Don’t make profit the only goal. Consider creating a scorecard that lets you track extra criteria (like attendance, safety checks, billable hours, and more).
1.
Eligibility
Who should be a part of your plan?
Most companies only offer incentive plans to management. Individual employees tend to rotate in and out, while management will usually stay the same across projects.
2.
Calculations and payouts
How big should the payout be?
It’s best practice to choose your desired margin (usually around 15%), and only award a payout if you hit that threshold. You’ll have to determine what that payout looks like per employee (we can help, if you want it).
3.
Criteria and deductions
How do we keep track of performance?
Don’t make profit the only goal. Consider creating a scorecard that lets you track extra criteria (like attendance, safety checks, billable hours, and more).
Let your team see the impact on the business
Motivate your team to act like owners, and show them how their work affects the business. When you connect rewards to behaviors, they’ll start looking for new ways to work smarter, harder, and safer.
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Attract and retain employees
Stand out in a competitive market, and keep your current team motivated.
Create cultural change
Build goals that encourage your team to look out for the business, and the people they work with.
Build goodwill
Show your hard-working team that you care, and keep them motivated on every project
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Get started with an incentive plan template for construction
We’ve taken years of experience and put together a template that’ll help you get started. Reach out today to get a personalized plan, and start using the template yourself.