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A key employee is someone you rely on, whose skills and business knowledge may be hard to replace. Often, the future of your business depends on key employees. So it’s important to protect your business with incentives that encourage key employees to stay long-term.
It’s estimated that replacing a key employee can reach 150%–250% of their salary1. Can you afford the added expense and time spent replacing critical employees?
Often called "executive benefits," key employee benefits show employees that you value their contributions and want to them to be a part of the long-term success of the company. These benefits can help reward and motivate your most important employees; as well as distinguish you from the competition.
Learn more about the types of employee benefit plans.
Penn Mutual has the expertise and product line to make your employee benefits program successful.
1 Source: Bliss & Associates Inc., Wayne, NJ Consulting Firm