How Service Business Owners Use Phantom Equity to Retain Talent & Avoid Entitlement - Chris Buttenham

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Welcome to the Service Business Mastery Podcast!

Visit our website for more episodes and insights! http://www.servicebusinessmastery.com

In this episode of the Service Business Mastery podcast, hosts Tersh Blissett and Josh Crouch talk with Chris Buttenham, Co-Founder of Reins, a company that helps contractors retain employees through incentive programs. Chris shares how offering phantom equity and profit-sharing plans motivates employees and aligns their goals with the business's success. He explains how using technology to simplify these programs makes them easy to manage and more effective. Chris talks about how offering meaningful rewards can drive business growth and employee loyalty.

This conversation focuses on Chris's journey helping contractors retain key employees with incentive programs. He shares how offering phantom equity and profit-sharing plans motivates employees and aligns their goals with the business. Chris explains how using technology to simplify these programs makes them easy to manage and more impactful. He highlights how offering meaningful rewards can strengthen loyalty, improve performance, and lead to long-term growth.

In this episode, here's what you can expect to learn:

1. How phantom equity and profit-sharing motivate employees.

2. Why aligning employee goals with the business drives success.

3. The value of using simple technology to manage incentives.

4. How offering meaningful rewards can increase employee loyalty.

5. Why creating clear, visible incentives leads to better performance and growth.

Timestamps ⏰

[00:00] - Recap

[02:52] - Episode Intro & Meeting Chris Buttenham

[06:39] - The Importance of Employee Retention in Home Services

[11:50] - Challenges of Aligning Employee Goals with Business Success

[15:40] - Understanding Phantom Equity and Profit-Sharing Programs

[18:21] - Simplifying Employee Incentives with Technology

[24:04] - How Incentive Programs Can Boost Employee Motivation

[31:28] - Managing Emotional Expectations and Visibility in Equity Compensation

[33:18] - The Role of Technology in Managing Employee Incentives

[37:16] - Employee Compensation Ranges and Impact

[38:09] - Equity Impact at Different Business Sizes

[40:00] - Fast Onboarding for Profit Sharing Programs

[43:34] - KPIs and the Need for Ongoing Communication in Employee Programs If you enjoyed this insightful conversation with Chris Buttenham, please leave us a review (5 stars would be greatly appreciated 😉).

Links & References:

LinkedIn:

• Chris Buttenham

• Reins

Website:

• Reins

This episode is kindly sponsored by:

• Free-2-grow

• Sera

• UpFrog

• CallRail

• CompanyCam Visit CompanyCam and use code SBM for a free 2-week trial, 1:1 training and account setup, and 50% off your first two months!

• MarketStorm

• Lace.ai

• Autobot.ai

Connect with us!

• Tersh Blissett

• Josh Crouch

• Join the Service Business Mastery Facebook group for more updates!

• Visit our website: www.servicebusinessmastery.com

Affiliate links:

• Castmagic

• StreamYard

• IfTTT

• Zyra Talk