Category Archives: Executive Benefits

Actionable Ideas to Recruit, Retain
and Reward Key Talent

In a time when more executives are walking away from their jobs, what can you do to keep them leaving during the Great Talent Recognition? Well, in this article by Andreas Stuermann, a fellow Lion Street Owner, he shares his ideas and insight into what might interest you and your staff that isn't for everyone, discretionary, and may be fully cost recvoered.

In today's post COVID world, are you finding it hard to keep your best people happy, while making sure that you don't overpay the rank and file employees? Well maybe a Phantom Stock Plan, informally funded using key man life insurance, might be an answer.

Check out this sample program from one of our carriers, Guardian. It outlines these benefits in easy, simple to understand discussion pages, and then shows you the cash flow from the business, the benefits provided to the participant and his family in case of pre-retirement death, and the flexibility available to the company in funding this benefit, that, depending on the age and tenure of your employee, can provide a significant supplemental income at retirement that prevents them from leaving for a few extra thousand in compensation

Click on the following link for a copy of a Phantom Stock Sample.  Then, if you'd like to a have a custom design done for you or your company, give us a call at 610.292.9330 or send us an email at info@SchiffBenefits.com.

What would happen if your business partner died suddenly? You'd be in business with his/her widow. Do you really want to do that?

No. Instead, you want to buy the "cheapest" insurance you can buy at the lowest cost. But many times, you need insurance for 20 or 30 years. In addition, when you pay that premium, it's gone.

What if you could have the same cash flow for a permanent policy as a term insurance policy, have the bank pay your premium, and then in the future, create a stream of income that potential buyout you or your partner in retirement? Wouldn't that be the best of all words? Well you can. You just have to be able to qualify.

Everyone should have long term care insurance. For individuals over 45, this is the one benefit that you have a 70% chance of using during your lifetime. And the most important benefit is the Coordinated Care Provider that comes with it.

Have you had trouble and need to retain you key people? Did they want to feel like they had ownership but you don't want to give up a minority interest in your company? Well, you can design a benefit for your "key" employees, that makes your best people feel like they are an owner so that they never want to leave, and you never give up control until the day that you decide to.

For more, check out our Phantom Stock articles

Watch this video and learn about the NQDC (409A) - Deferred Compensation Plans and how you can implement one easily