Employee retention, especially in highly competitive industries and/or a tight labor market, is an issue facing many business owners. How do you attract, retain, and keep satisfied the most talented and productive members of your labor force?

Many business owners have learned the hard way that just throwing additional dollars at the employee in the form of increased salary or cash bonuses only goes so far, and once the money is spent, there’s no real control over the outcome. Some business owners decide to use only the “stick” part of the employee retention equation via non-compete agreement, but sometimes adding a “carrot” can make this medicine go down much easier.

In this episode, Will Steih and Josh Null discuss one possible concept for business owners to consider as a solution called “Non-Qualified Deferred Compensation (NQDC). NQDC can be a useful tool to attract and retain talent while maintaining some control over the agreement.

You can find our Non-Qualified Deferred Compensation resource center by visiting gulfcoastfa.com.

If you would like to continue the conversation with Josh and Will, make an appointment on our website at https://gulfcoastfa.com/, or feel free to call 251-327-2124 or email [email protected].