Employee Incentives For Plumbing Companies
Turn your plumbers into partners in the profit
Plumbing company with up to $50 million in revenue? Here’s how to set up an incentive plan that grows average ticket, cuts callbacks, and keeps your best plumbers off a competitor’s truck.
Employee incentives make a huge difference in plumbing
Every plumbing job has swing in it: the options presented, the callback that eats a morning, the service agreement that never gets mentioned.
A great incentive plan pays your plumbers for first-time fixes, honest options, and repeat customers, so the behavior that builds your plumbing company also builds their paycheck.
Here’s what to consider when building your plumbing plan
At ShareWillow, we’ve helped dozens of plumbing and home service companies create incentive plans that reward clean work and happy customers. 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.
.png)
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
How to Split Profits in an LLC
Navigating profit sharing in a limited liability company (LLC) can be frustrating and somewhat tricky for business owners.
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.