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Seasoned and dynamic executive leadership is difficult to find and retain. To successfully attract this talent, employers must go beyond providing competitive base salaries by creating compensation and employee benefits programs that meet the individual needs of key executives. Well-designed executive and deferred compensation programs for high-level employees serve the interests of the business and key employees.
For the employer, these programs can help establish loyalty and increase the motivation of valuable executives while creating a logical structure around which compensation planning and budgeting can be managed. For the executive, concerns about family security, the creation and preservation of wealth, and tax issues can be addressed.
Typically, comprehensive executive and deferred compensation programs include life insurance and disability income plans that minimize the employee's taxable burden while sheltering income all critical elements for proper individual financial planning.