Faced with costly turnover and a tightening labor market, Cooper’s Plumbing & Air partnered with Reins to launch an equity-based incentive system that gives employees real ownership in the business. The approach has boosted retention, strengthened culture, and offers a model for how contractors can keep teams engaged beyond paychecks alone.
Reverse mentoring is transforming the plumbing contracting industry by pairing seasoned professionals with younger employees. This innovative approach fosters cross-generational learning, enhances adaptability, and drives growth for the business's future.
Retaining skilled employees is vital for plumbing and HVAC contractors. High turnover leads to disruptions and decreased customer satisfaction. To address this, many are finding innovative ways to encourage retention, including unique approaches from new companies.
Things like timeliness, on-budget delivery, superb communication skills and flexibility all convey a contractor’s approach and their execution capabilities. As such, the success of every project boils down to planning.
In my years in the workforce, I’ve had jobs with amazing bosses and managers. On the flip side, I’ve also had terrible managers who made me question whether or not I wanted to stay in that organization.
Many of us have heard the term, ‘The Great Resignation,’ in describing the massive amount of employee turnover the last few years. In 2021, federal data shows nearly 50 million workers left their jobs for various reasons — higher pay, new career opportunities and more. With an already strained job market in the skilled trades, employee retention is more important than ever.
Recent LinkedIn studies show that more than half of the workforce is open to exploring new employment opportunities. That means there is a good chance that as you read this article, you have people assessing their employment options in your company.