Small businesses can attract new talent by allowing employees to share in the company's success. Offering phantom stock and profit-sharing can help employees feel valued and invested, moving beyond just earning a paycheck.
The plumbing industry faces a projected shortage of 550,000 plumbers by 2027, costing skilled trades $5.3 billion annually in hiring and training. However, a rising number of young adults are choosing trade school, which may introduce new talent and challenges for business owners.
The partnership connects XOi’s technology with Powerhouse’s training and insights, ensuring field service professionals are equipped with the resources they need for the jobsite.
With this strategic collaboration, Ferguson’s contractor network can leverage ServiceTitan’s powerful residential, commercial, HVAC, and construction platform, enabling them to win more business, increase profitability, and maximize the lifetime value of their downstream customers.