Compensating top managers with equity and profit-sharing options
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As dairy businesses continue to grow and evolve, it becomes increasingly important to attract and retain the best people to your management team. Not only do you need to be able to offer compensation packages that are competitive amongst your peers and other industries, but you also want to incentivize high-level managers to treat the business as their own. Depending on the goals of the business owner, and the structure of the business, there are several options businesses can explore to accomplish both. Here we look at three of the methods that are prevalent in business planning today: the Profits Interest LLC, Deferred Compensation Plans, and Phantom Stock.
compensation; profit; sharing; business; management