Want employees that act like owners? Consider making them owners
TAX BLOG |
Business owners looking to transition ownership and reward employees may want to consider an employee stock ownership plan, or ESOP. These are a form of retirement plan that can fulfill succession planning goals and prove very beneficial to owners, employees and the company overall as they give employees a direct stake in the success of your company.
As I discuss in the video below, ESOPS are a great option for closely held businesses with good profitability, strong growth potential and qualified management—all hallmarks of a company that can retain the value of the stock issued.
Intrigued? Read our FAQ for more tips on determining if an ESOP could be a good choice for your business.