Key Employee
Compensation Consulting

CONSIDER THIS . . .

A client and company owner named "Steve" was faced with the possible loss of his marketing VP about five years ago. Aware that this loss would be significant, Steve hired us to intercept. Let's call the VP "Norm."

When Norm was told that we had been hired to identify why he was looking for another job and what might be done to keep him around, Norm, it turned out, was quietly pleased. He didn't actually want to leave.

Norm's dissatisfaction started when Steve failed to respond with attention and care to Norm's request for an increase in compensation. Instead of recognizing the seriousness of Norm's request, Steve quickly offered a $5,000 a year salary increase, then dismissed the issue with "we'll talk about the rest later" and breezed out the door to a golf engagement.

After serious attention to Norm's concerns, we identified three issues related to the question of whether Norm stayed or left:

• Norm's desire to become #2 in the company was prompted by his interest in helping reduce chaos stemming from Steve's frequent absences.
• His desire for extra time off to travel now that his kids were grown
• His preference for deferred compensation in lieu of salary increases.

Our negotiations yielded a win-win for Steve and Norm. Steve officially designated Norm #2 in his absence, and announced the fact at the company picnic. Norm also received a mini-sabbatical of one month every two years. And Steve's financial advisors arranged for a deferred compensation solution.

- Linc Shea, BMC president

But that's not the end of this happy story. For our solutions to be successful, the needs of both owner/manager and employee need to be satisfied. Not only did we smooth the waters for Norm to remain with the company, but we also satisfied Steve's need to be able to leave the office in good hands. Thanks to our consulting assistance, Steve found himself on the golf course more often—right where he wanted to be.

Contact us if key employee compensation troubles are causing tension in your organization.

Family Business Compensation Consulting

Selective Benefit Options

Deferred Compensation