Corporate Planning
Employee Benefits
Employee benefits can be an important part of employee compensation, and help attract and retain top performing employees. The challenge business owners have is choosing the right plan, whether it be a traditional plan or a Self Directed plan and how to make it affordable in today’s high cost environment. Our process involves a survey, which we developed to help your management team determine which benefits your employees find most valuable. As an independent consulting firm we will survey the market to find you the most competitively priced supplier for your company’s Employee Benefits Program. What sets us apart is our excellent communications with management and staff to introduce the plan, show how to use it, and co-ordinate it with government benefits (WCB, CPP, EI etc) and each persons own personal planning.
Business Succession
Many small business owners don’t have a Business Succession Plan in place leaving them unprepared for retirement, Disability or Death. Some questions to consider are:
Who will take over control of my business?
Where will the money come from to fund the exit strategy for the purchase of my business and retirement?
How will my family maintain their standard of living when I die or if I become disabled?
Key Person Coverage
Determine the value of your Key person. Take a few minutes to go over this checklist. It will help you identify the value of your key person and how this loss could impact your business.
Will the loss of a key person impact your business financially?
Will it affect profits? For how long?
Will there be a cost to replace this person?
Recruitment? Training? Education? Relocation?
Could this loss impact your company's credit?
Will creditors shorten payment terms?
Will creditors call loans?
Will you lose key clients? Is your company at risk of losing employees?
Executive Compensation
Beyond salary, there are many ways to compensate your employees such as education programs, gym memberships, retreats, Group RSPs, Pensions, conferences and deferred compensation arrangements (etc). Which program best suits your companies' and employees' needs, will depend on your unique situation. Let us help you determine the most tax effective ways to compensate your employees' immediate and long term needs.
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