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Business owners know who their key employees are--they’re the managers, executives, and specialists who are indispensable to your business. The challenge is to secure their loyalty, keep them onboard, and motivate them to give their all. If the plan is for the company to grow, they must also attract new talent. So, how do they retain, motivate, and attract key employees when they are already offering a competitive salary? By providing executive fringe benefits.
Fringe benefits and special perks can make all the difference in the world to an executive who is being courted by more than one employer. There are several benefit options available, in order to put together an affordable package that»s right for the business. Remember, the owner or corporate executives do not have to cover all of their employees.
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- Executive Bonus Plans
- Split Dollar Insurance
- Deferred Compensation
- Salary Continuation Plans
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Depending on the circumstances, they may wish to reward top performers with a year-end executive bonus plan or additional life insurance coverage. Another option may be to provide a nonqualified deferred compensation plan to executives as a supplement to their normal retirement plan. Or, may wish to consider various salary continuation plans. To help them remain a competitive employer, we can design a creative benefit package. |
