Your business is often one of you most valuable assets. We will help you find ways to protect that asset and ensure its viability well into the future.
Business Succession
Along with the rewards of business ownership there is often the desire to see the business continue. There are financial considerations, management considerations and family considerations. Many times the business is the largest portion of the business owner’s net worth. This may make the planning more complex and urgent.
Key Person Insurance
In most businesses there are a few key contributors who help the business achieve the greatest results. These are the Key People. The successful business considers and has a plan for managing the risk of losing its most valuable resources – its key people – whether due to resignation, disability or premature death.
Executive Compensation
Attracting and retaining the key personnel of an organization is often critical to its long-term success. Whether it is the Chief Financial Officer (CFO) for a midsized business or the Executive Director of a large non-profit, having the right person can make a profound difference. Once you have them there, keeping them is essential. Traditional retirement and benefit plans are effective at rewarding much of the workforce, but they may not effectively attract and retain the executive leaders. Customized solutions can pick up where the traditional programs leave off.
Benefits, Coordination and Communication
Today the average cost of benefits to employers totals over 29% of salary*. And that cost may be rising. We can develop benefit programs that make sense for your company and your employees. We have access to specialists in all lines of employee benefits with the experience and know –how to keep your programs running smoothly and your employees happy. For employers, we can help assess whether the benefits being provided are in alignment with organizational objectives. We can also assist with communicating the value of all of the benefits to your employees.
*Prudential Group Insurance – Sixth Annual Study of Employee Benefits: Today and Beyond.