10/8/24

Revolutionizing Finance: A New Take on Hourly Pay

In this episode, Michael Fortinberry, co-founder and COO of Protiv, discusses whether it's time to rethink the hourly pay system in the construction industry. Together, we'll explore innovative compensation models to boost productivity and efficiency, offering valuable insights for those looking to improve workforce performance through new pay structures. 6:28 Guest Intro: Michael Fortinberry Protiv.com 7:30 Close the Gap Between In-Person and Zoom Calls 11:08 Performance Models 12:06 Innovating Compensation 14:17 Shaping Company Culture: Numbers Based 17:07 Who are you when you are at your best? 18:42 How well do you know your people? 20:06 Merit Based Compensation Structures 22:09 Connecting Labor Budget: Getting Your Crew to Understand the Goals 23:18 Stop with the 1099s. 24:42 Incentives and Bonus Structures 25:59 Goals for Incentive Programs 26:28 Transparency 27:30 Creating New Ideas to Get the Job Done 29:40 How the Software Works 37:50 Case Studies and Examples 41:00 How Bonus Structures are Paid Out Thank You to Our Sponsors: Well Built Construction Consulting https://www.wellbuiltconsulting.com/ Steel Toe Communications (Digital Marketing for Contractors) https://www.steeltoecommunications.com/ Katz Abosch (Tax, Audits and Accounting) https://www.katzabosch.com/ Lawrence Law (Legal Challenges for Contractors) https://lawrencelawllc.com/ Sandy Spring Bank https://www.sandyspringbank.com/ Genesis AEC (Full Service Architecture, Engineering, Construction in Life Sciences) https://www.genesisaec.com/ Marsh McLennan Agency https://www.marshmma.com/?utm_source=... Construction Links Network: https://constructionlinks.ca/ For additional episodes and information visit https://www.themorninghuddleconstructionshow.com/about Subscribe to our weekly e-newsletter for the latest updates. https://lp.constantcontactpages.com/s...

Previous

Why Growth is Necessary

Next

S.6 Ep.64 TMH Be a Successful Employee-Owned ESOP