Employee share ownership programs (ESOPs) have been implemented successfully in businesses for many years as one of the creative strategies for growing organizations. The benefits of ESOPs include:
Recruit highly skilled individuals to your organization
Retain key employees thus reducing turnover and training costs
Maximize commitment to long-term corporate goals
Provide employees with non-cash compensation
Profitably manage a fast growing company
Revitalize existing incentive plans
Assist with succession planning for business owners
Design an ESOP ranging from granting a small share position to a key executive to the complete buyout of a company by its employees
Arrange for valuation report where required
Provide employees with unbiased and objective tax advice concerning their investment in the company, as well as personal tax-planning recommendations