Employee incentive plans can provide substantial benefits for a business-owner leading to long-term retention, alignment of corporate and personal goals and maximizing the value of the business. Key employees are crucial to the future success of any operating business and it’s imperative for a business-owner to properly and fairly incentivize those key people to do their best work. There are several different strategies that can be utilized to incentivize key people, each with their own positives and unintended consequences that should be explored and evaluated for each business.
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Topics Covered:
- Overview of incentive compensation plans: what they are, how they work and why they are important
- Equity-based compensation plans such as non-qualified stock plans
- Cash-based plans such as non-qualified deferred compensation plans, stock appreciation rights (SAR) and “phantom stock” plans
