EXITPLANNING-EDU Survey Results Announced- Key Employee engagement begins with a successful plan

WWW.ExitPlanning-Edu.com, an educational website for business owners today announced the results of its survey of 300 Business Owners. Conducted recently, Who is the Key Employee reveals the non-technical factors of Key Employee Incentive Plans.
By: O'Hara & Company
Jan. 10, 2013 - PRLog -- Key Employee Incentive Plans are successful not because they provide just additional financial incentives, but because the business owners are combining financial rewards & a personal touch that make the Key Employees feel they are a part of a unique & special group that is linked to the future success of the company.  

According to the survey, 54.4% of respondents reported they have an incentive plan for their key employees and take measures to assure their key employees feel different because they are participants in such a plan. Of those with incentive plans, 87.5% share additional company info with their key employees and 50% of the same number conduct special meetings to disseminate material among employees. While the survey shows a positive upswing towards incentive planning, a troubling fact is close to 50% of respondents do not have an incentive plan for their key employees.

It is imperative to note, respondents with Key Employee Incentive Plans have seen their business improve—margins are up, more positive participation, ownership of responsibilities, better quality and improved customer satisfaction.

Communication and interesting planning techniques associated with Key Employee Incentive Planning, focusing on phantom equity techniques, straight incentive compensation based on profit, as well as additional “non-technical” add-ons owners can offer will keep these employees engaged, inspire others to grow, build business value, and secure a strong future for the business, its employees and ownership.

Responding to the lack of Key Employee Incentive Plans and the need for Business Owners to begin to identify the need for creating a business plan with a successful exit plan component, Bob O’Hara (CPA/PFS, CExP™ owner of O’Hara & Company, PC in Chelmsford, MA) and ExitPlanning-Edu will be launching a National Campaign, scheduled to hit the mainstream the first quarter of 2013.

According to O’Hara, “Key employee engagement and successful Exit Planning creation, in conjunction with one another, proves to build strong and sustainable businesses.”

About Bob O’Hara and ExitPlanning-Edu

www.ExitPlanning-Edu.com, founded by Bob O’Hara, CPA/PFS, CExP™, is a website devoted to educating business owners and their advisors on the exit planning process.  O’Hara is President of O’Hara & Company, located at One Olde North Road, Ste. 101 in Chelmsford MA. For more information you may visit the website or call 978-244-9860.
Source:O'Hara & Company
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Tags:Key Employee, Incentive Plan, Recruit And Retain, Entrepreneaur, Succession Planning
Industry:Accounting, Business
Location:United States
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