Profit Sharing Plans
In the short run, profit-sharing plans seem to go against the grain when it comes to bolstering the financial bottom line for many businesses, but they actually have a proven track record of offering a number of intended and latent advantages that business owners don’t often consider when building a benefits package for their employees. Structured correctly, your profit-sharing plan can actually boost long-term financial gains.
Benefits of a profit-sharing plan:
Employee Loyalty — Every business owner knows the importance of keeping their best employees happy and loyal. Turnover costs businesses of all types and sizes an enormous amount of money every year. Keeping those team members who have helped you grow your business satisfied, by making them part owners, allows you to avoid losing them to your competitors.
Productivity — When each member of your team is directly impacted by their individual job performance, productivity is almost guaranteed to increase. Incentivizing each employee with a share of the profits will help them care about the health and stability of your organization.
Flexibility— Unlike other job perks and benefits, profit-sharing plans don’t add unaffordable expenses to your ledger. If your business experiences a downturn or margins shrink, the amount paid out to employees decreases as well. As a relatively safe way to reward employees, profit-sharing plans can be intelligently implemented by even small, family-owned businesses.
Why Choose EMS
Working on an individual basis, we strive to make the financial needs and goals of your company our number one priority. As certified financial advisors, we use our years of experience and extensive knowledge to construct an employee benefits package that is sensible, straightforward, and affordable. We understand that profit-sharing plans can be complicated and confusing, therefore, we take the time to answer all your questions and address all your concerns before implementing any plan.
Let’s get started on empowering your employees with a profit-sharing plan that works. Contact the EMS Financial Enterprises team now for professional financial assistance.