Incentives That Actually Retain Your Best People With Chris Buttenham

Titans of the Trades

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/
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