What are employees looking for in compensation packages? Is it really ALL about the money? What we’re finding in today’s business world is that many employees are looking for a more holistic approach from employers. They want benefits packages that include flexibility, gym memberships, and more than the standard benefits of old. Don’t miss our conversation today where we take a look at compensation from businesses large and small.

 

Kevin D. Monaghan is an expert at helping businesses of all sizes create benefit plans that are the best fit for your employee AND your business. Kevin is the founder of Intuitive Compensation Group, where he not only focuses on retaining key employees, but he also develops buyout strategies and helps manage the dynamics of working in a family business. Join me for advice from Kevin on attracting AND retaining top talent for your company!

 

What you’ll hear in this episode:

 

• Kevin’s job as a production assistant for The Office: “It was a minimum wage job but it was great fun in a great environment.”
• Why the biggest mistakes that business leaders make center around the promises they make to employees
• Options for benefit programs:
• • Higher pay
  • Commissions
  • Equity in the company
  • Health insurance
  • Retirement plans
  • Profit/Revenue sharing
  • Leverage bonus plan
• The nuances of family-owned businesses and how to position yourself to hand it off to a family member
• What business owners care most about: control and taxes
• Advanced processes are needed to make tough decisions
• The importance of awareness
• Why some partnerships work and some don’t
• What Kevin sees “down the road”---”Phantom equity” as the new #1 compensation package

 

Resources:

www.intuitivecompensation.com

Find Kevin on Linked In and Facebook: Kevin D. Monaghan

Call Kevin: 877-70-LEARN