Podcast Episode
S19 E03: Why Good People Leave (and How to Make Them Stay) with Chris Buttenham
About this episode
In this episode of the Smells Like Money podcast, host Suzan Chin-Taylor sits down with Chris Buttenham, CEO and Founder of REINS, to address the labor shortage and retention crisis facing the skilled trades. Moving past the trap of standard, entitlement-style bonuses, Chris explains how independent contractors can utilize alternative equity models like phantom stock and structured profit-sharing to retain star talent. Learn how transparent communication, shared upside, and aligned incentives turn key employees into invested intrapreneurs without business owners giving up operational control or voting rights.Key Discussion Points:* The Skilled Trades Retention Challenge: Private equity firms and larger competitors frequently attempt to poach top talent with large financial packages and equity offerings, making retention a pressing issue for independent contractors.* Why Good Employees Leave: Technicians often exit due to a lack of purpose, misaligned company values, or the urge to become their own boss when they do not feel ownership in what they are building.* Incentives vs. Entitlements: Effective incentive programs must be strictly performance-based with clear, quantifiable metrics, rather than generic bonuses that fuel wage inflation without driving positive behavioral change.* Democratizing Alternative Equity: Tools such as phantom stock and non-qualified 409A plans allow trade businesses to share business growth and future value with staff without transferring voting power, incurring excessive legal overhead, or burdening workers with immediate tax liabilities.* Prerequisites for Success: Before launching an incentive structure, business owners must build a healthy company culture and practice financial transparency so employees clearly see how their daily actions impact overall profitability.Connect with Chris Buttenham:CEO and Founder, REINSContact: chris@myreins.comLinkedIn: Chris ButtenhamWebsite: myreins.comI hope you find this episode as informative and as exciting as we have.Please let us know your thoughts about the episode!Connect with Suzan Chin-Taylor, host of The DooDoo Diva's Smells Like Money Podcast:Website: www.creativeraven.com | https://thetuitgroup.com/LinkedIn: https://www.linkedin.com/in/creativeraven/Email: raven@creativeraven.com Telephone: +1 760-217-8010Listen and subscribe here to your favorite platform:Apple Podcast - Google Podcast - Cast Box - Overcast - Pocket Casts - YouTube - Spotifyhttps://creativeraven.com/smells-like-money-podcast/ Subscribe to the Podcast:https://creativeraven.com/smells-like-money-podcast/Be a guest on our show:https://calendly.com/thetuitgroup/be-a-podcast-guestCheck Out my NEW Digital Marketing E-Course & Coaching Program just for Wastewater Pros:https://store.thetuitgroup.com/diy-digital-marketing-playbook-for-wastewater-pros#EmployeeRetention #SkilledTrades #ContractorLife #BusinessGrowth #AlternativeEquity #PhantomStock #Leadership #WastewaterIndustry #TradeServices #SmellsLikeMoneyPodcast