Terry Bork CLU ChFC, President   |   Aurum Insurance Services   |   D: 440-605-7230   |   C: 440-666-6032   |   tbork@auruminsurance.com   |   www.auruminsurance.com

Attract, Retain, Reward, Motivate

Executive Compensation

Not all employees are equal. In successful organizations there are usually exceptional people who are principally responsible for the growth and success of the company.

Because of their value, as a business owner you want to ensure they remain happy and productive in their job. This can be accomplished by an Executive Compensation package designed to retain, reward and motivate your exceptional employees.

You want to retain exceptional employees for several reasons:

  • Increased productivity and profitability
  • More growth in the value of the business
  • Cost to replace the key employee
  • Help ensure continued sales/revenue directly related to key employee expertise
  • Position the business for a profitable sale in the future

What your key employees are concerned about:

  • Financial security for themselves and their families
  • Future retirement income
  • Potential future growth opportunities

Designing executive compensation solutions with both parties in mind

Overwhelmingly, business owners reward and incent their key employees with cash bonuses. Those dollars could, however, provide more benefits in properly designed executive compensation programs.

An executive compensation program is an agreement between the business and the key employee. You want to find a way to keep the key employee and they are looking for a reason to stay. Determining a strategy that works for both parties is an important part of the process.

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