Posted on February 17th, 2009 by Bay Area Business Sales
Filed under: Exit Strategy, Increasing & Preserving Business Value
Previously I outlined the four characteristics of a successful Employee Incentive Plan. Namely, such plans should:
Be specific, not arbitrary, and be in writing;
Be tied to performance standards;
Make substantial bonuses; and
Handcuff the key employee to the business.
Here I will focus on the last characteristic; handcuffing the key employees to the business. The goal of the handcuff [...]
Posted on February 13th, 2009 by Bay Area Business Sales
Filed under: Exit Strategy, Increasing & Preserving Business Value
Too often, owners discover that the compensation plans they’ve put in place for key employees are sadly inadequate only when those key employees leave their companies for greener pastures. The departure of one or more of these key employees can not only complicate your daily business life, but it can slam shut the door on [...]