Incentive Plans – My Business August (2012) - Succession Plus

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Incentive Plans – My Business August (2012)

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Incentive Plans – My Business August (2012)

By , January 22, 2015

The key to any incentive plan is that it must be self-funding, otherwise you have simply created an entitlement for employees. Secondly the plan needs to be tied to only one measure i.e. Profit Before Tax, and should be broad based. Employee Ownership Share Plans, otherwise known as Employee Share Schemes, are becoming an increasingly more popular way to improve employee engagement, retain key staff and can even be used to sell your own business to your employees.  When used in conjunction with Ownership Thinking; another employee engagement strategy, the performance of any business can be dramatically improved.

Craig West

Craig West

Managing Director | Succession Plus

Craig West is a strategic accountant who has over 20 years’ experience advising business owners. His background as a CPA in public practice, provided invaluable experience in the key issues of concern to business owners. Following 6 years of study to gain two masters degrees, Craig focused on Capital Gains Tax (CGT) for business sales advising on strategic management of tax issues. This experience formed a very strong view that business owners (and often their advisers) were unprepared and unaware of the steps required to prepare a business for exit.

Craig now acts as a strategic mentor for mid-market business owners and has written four critically acclaimed books on employee incentives, succession planning, asset protection and exit strategies. Craig has conducted numerous seminars and keynote presentations throughout Australia & internationally, including adviser education programs for the Institute of Chartered Accountants and CPA Australia.