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Incentives That Actually Retain Your Best People With Chris Buttenham
Summary
The conversation discusses the labor crisis in the trades industry and the importance of employee retention. Chris Buttenham, co-owner of Reins, explains how their company helps small businesses in the trades sector retain key employees through equity and profit-sharing incentives.
They focus on aligning incentives and creating long-term and short-term financial rewards for employees. The conversation highlights the effectiveness of these incentives for businesses in high-demand, low-supply industries like HVAC and contracting. Success stories include businesses that have retained key employees and improved their operations by implementing Reins' incentive structures.
Keywords
trades industry, labor crisis, employee retention, equity incentives, profit-sharing, Reins, small businesses, long-term incentives, short-term incentives, financial rewards, success stories
Takeaways
- The trades industry is facing a labor crisis and employee retention is a significant challenge.
- Reins helps small businesses in the trades sector retain key employees with equity and profit-sharing incentives.
- Aligning incentives and offering long-term and short-term financial rewards can motivate employees to stay with the company.
- Reins' incentive structures have been effective for businesses in high-demand, low-supply industries like HVAC and contracting.
Sound Bites
"Retention is the key issue in the trades industry."
"Financial incentives create a stronger commitment from employees."
"Reins is designed for businesses in high-demand, low-supply industries."
Chapters
03:03 The Importance of Financial Incentives for Retention
06:03 Effective Incentives for High-Demand Industries
09:20 Financial Rewards and Employee Commitment
12:26 Understanding Phantom Stock and Equity Incentives
14:48 Offer and Conclusion
Connect With Chris:
Special Listener Promo: https://www.myreins.com/ryan
LinkedIn: https://www.linkedin.com/in/chrisbuttenham/
Support Titans of the Trades:
If you found this episode insightful, please subscribe, share, and leave a review for Titans of the Trades. Your support goes a long way in helping us bring more impactful discussions your way.
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By Ryan EnglinSummary
The conversation discusses the labor crisis in the trades industry and the importance of employee retention. Chris Buttenham, co-owner of Reins, explains how their company helps small businesses in the trades sector retain key employees through equity and profit-sharing incentives.
They focus on aligning incentives and creating long-term and short-term financial rewards for employees. The conversation highlights the effectiveness of these incentives for businesses in high-demand, low-supply industries like HVAC and contracting. Success stories include businesses that have retained key employees and improved their operations by implementing Reins' incentive structures.
Keywords
trades industry, labor crisis, employee retention, equity incentives, profit-sharing, Reins, small businesses, long-term incentives, short-term incentives, financial rewards, success stories
Takeaways
- The trades industry is facing a labor crisis and employee retention is a significant challenge.
- Reins helps small businesses in the trades sector retain key employees with equity and profit-sharing incentives.
- Aligning incentives and offering long-term and short-term financial rewards can motivate employees to stay with the company.
- Reins' incentive structures have been effective for businesses in high-demand, low-supply industries like HVAC and contracting.
Sound Bites
"Retention is the key issue in the trades industry."
"Financial incentives create a stronger commitment from employees."
"Reins is designed for businesses in high-demand, low-supply industries."
Chapters
03:03 The Importance of Financial Incentives for Retention
06:03 Effective Incentives for High-Demand Industries
09:20 Financial Rewards and Employee Commitment
12:26 Understanding Phantom Stock and Equity Incentives
14:48 Offer and Conclusion
Connect With Chris:
Special Listener Promo: https://www.myreins.com/ryan
LinkedIn: https://www.linkedin.com/in/chrisbuttenham/
Support Titans of the Trades:
If you found this episode insightful, please subscribe, share, and leave a review for Titans of the Trades. Your support goes a long way in helping us bring more impactful discussions your way.