
RESOURCES -
Executive Benefits
| CA$H is a nice benefit, but income
taxes erode the effect of a bonus. Once a bonus is given, the string holding
the executive to you is cut. |
Do you have quality people who work for you. Perhaps one or two of the
quality people are really KEY to the growth and continued success of
your business. Perhaps they would be difficult and costly to replace.
How can you be assured that they will stay with you rather than start
their own business or be taken by a competitor?
You probably pay them well, they get bonuses and perhaps you even let
them have input into how the business is run. But you are not going
to give them stock in YOUR company. How do you keep them productive,
interested,
motivated and happy? How do you make them want to stay with you for
a long time, not just until the next bonus is declared?
Goldwasser-Appel has helped business owners design executive retention
plans that provide the long term financial motivation that helps
keep executives with you and, at the same time, motivate them to
become
even more productive. Using one or more of the following, you may
be able
to minimize or remove the risk of loosing your KEY people.
| Executive Bonus Phantom Stock |
Section 264 Non-Qualified |
Deferred Compensation Retrievable Bonus |
401(k) Mirror Successor Ownership |
KEY EMPLOYEES. Keep them or loose them? You should make that decision.
Often you do not find that you have a problem until your special people
give you two weeks notice. Discuss with us a preemptive plan to make
them want to stay and make them want to see you grow.
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