In the midst of our current economic crisis, many companies have been forced to evaluate their staff and determine who should be retained at all costs and who the company could afford to lose. In times of industry consolidation or financial instability, employers can be faced with the need to retain some key employees and encourage others to separate from the company. At Savage & Associates, we believe planning for both situations will add important tools to your overall compensation program. We can help you develop retention mechanisms from simple vesting schedules in your benefits plan to a more elaborate custom reward system. Similarly, we can draw on our experience to help you add appropriate effective incentives to encourage early retirement or separation.
It is important to consider both severance and retention plans in order to keep your business profitable. The executive benefits professionals at Savage & Associates can answer all of your questions about executive compensation and benefits programs as well as retirement planning services and corporate-owned life insurance.
Call 419-475-8665 or fill out our on-line request form for more information or to schedule an exploratory appointment with our experienced professionals at Savage & Associates.