Recruiting and retaining key employees is of extreme importance to most businesses. Likewise, having proactive plans that deal with the partner, owner, co-founder or family buy-outs are equally critical. The problem is that people leave for a host of reasons: they get sick, retire, pass away, or move to another firm. It is difficult to cover all of these possible events. Even worse, funding all these contingent liabilities is an expensive ongoing cost, so most simply don’t. This leaves companies exposed. Kai-Zen offers both a plan that can cover all these situations as well as bring the extra cash flow needed to fund them more effectively.
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Employees don’t stay at companies for 20+ years anymore and the competitive nature of headhunting has recruiters coming at your top talent from all directions. While most companies understand the need for competitive benefits packages in order to retain key employees, they are not able to provide everything at once without having to make significant financial sacrifices. It is crucial that your employees’ basic needs are not only met but exceeded in order to differentiate your company.
Studies have shown that it costs as much as 30% of an employee’s base salary to recruit and train a new executive. Wouldn’t you rather use that money to benefit the executive and motivate them to stay? Kai-Zen makes it easier to address these concerns with five planned contributions and a policy that has the potential to grow over time.
Key employees leave for a variety of reasons. Partners can become disabled, have a chronic illness or just want to retire, leaving the business to scramble to cover their loss to the business. Most life insurance requires that someone dies while they are employed for the company to recover its costs, but the Kai-Zen Plan is one of the few that covers key personnel if they leave.
In the case of business ownership, most partners would like to have something in place that would avoid having a large portion of the company passed on to a family member or someone who has no personal stake in the company.
Most benefits require that you pay an annual expense as long as the employee stays at your company. Even worse, this cost increases over time. With Kai-Zen, there are five or less payments to be made. Most businesses offer just the basic benefits, like health insurance and 401K matching. So what separates you from the rest?
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source:
http://www.kaizenplan.com/kai-zen-employers/
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