Ensure enduring viability with key employee retention plans

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in Business Management,People Management

The more valuable an owner is to a business while he/she is active in it, the less value the business has when the owner leaves…unless the owner has put in place people and processes that assure the business will stay prosperous.

What’s the best way to assure the business’s survival? — A stable, motivated management team.   The future of the business depends on how securely the key employees are tied to it. Businesses use a variety of incentive packages designed for team retention. These plans are generally categorized as equity or non-equity based and share 5 common features: the benefits are substantial, measurable, aligned with the attainment of the business’ benchmarks and given according to a vesting schedule. These plans also have legal safeguards that help mitigate risks to the company and other equity holders.
     
Equity Based Incentive Plans

There are few better motivators for retention than making an employee an ...(register to read more)

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{ 1 comment… read it below or add one }

Liz Carlile January 26, 2009 at 3:22 pm

Thank you so much for the timely advise. Every business owner should take time to consider your points. You really know what is important. I will be contacting you soon to ask some questions.

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