Nearly every business owner freely admits that his or her employees are the most valuable asset of the business. Without a team of trusted employees, a business owner can’t focus on the things the business owner does best and is most satisfied doing. Very often, hiring and retaining a key employee or a management team can mean the difference between the success and failure of a business. As every business owner knows, retaining key employees is the true challenge.
Charles R. Riney, Jr. enjoys working with business owners and entrepreneurs to structure the right benefits for a key employee or management team which contemporaneously provides performance incentives for the employees and stability for the business owner. Employment arrangements and benefits for key employees is not a one-size-fits-all situation. Charles advises business owners regarding the available options, including, non-qualified deferred compensation plans, direct sale of stock or membership interests, restricted stock plans, phantom stock plans, as well as the many insurance-based options.