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Key Employee Reward and Retention

A good business owner knows you’re only as good as the employees who support you. You also know losing key executives costs money, could hurt client relations, and damage employee morale.

You’re likely aware of the talent shortage which, frankly, is only forecasted to get worse. That’s why it’s important to retain the employees who make your business successful by creating a plan that entices them to stay. This is especially true if they might become part of your succession plan or you need them to help prepare your children to lead your family business.

With the right executive benefits plan you’ll be able to:

  • Effectively reward superior performance. The plan may include anyone you choose whether it’s a select group of executives or simply employees who work extra hard for you.
  • Provide valuable incentive to stay with you for the long term.
  • Give you an edge over your competitors who may try to lure your employees away.

Together we’ll consider the financial future of those who contribute to the success of your business and ensure they’ll have the assets to sustain them in retirement.

You may also want to implement a plan for yourself to make better use of working capital for your own retirement.

An effective employee retention strategy is unique to every business and should be flexible and geared toward your business’s needs. The plan most commonly used is:

  • Unique and Patented.
  • Gives the business control.
  • Avoids the accrual of a liability.
  • May be structured to recover the cost of the plan.
  • Allows for flexibility to make changes.
  • Provides full accounting and tax reporting.

Working together to create a plan that rewards employees will not only make your business competitive, it will make you rest a little easier knowing you’ll have a top-notch team for years to come.