Layering in a bonus or profit sharing contribution can be an incredible retention tool that many businesses do not take advantage of. There are different types of vesting schedules out there. Some are utilized to bonus key employees and others are utilized for employer contributions to company retirement or profit sharing plans. Some are layered over multiple years, while others have a set time frame. No matter what type of compensation plan you have for your employees, a vesting schedule can help your business retain control over employer contributions or bonuses made to your employees and top executives.
Set up a consultation today so we show you how adding a vesting schedule can benefit your business for years to come.