Rewarding high-performing employees with a great cliff vesting benefits package is a prudent business decision as a motivated workforce is essential for financial sustainability. Although, devising a cliff vesting benefits package with so many options can be challenging.Small businesses benefit from cliff vesting as it attracts and retains top talent. Most cliff vesting benefits plans are three years long, so employees must remain in a business for that period. And companies have adequate time to monitor their employee's performance before they are vested. Even though establishing a cliff vesting plan for your key employees may sound

Establishing a holding company for your expanding business is beneficial for many reasons. It can reduce your tax burden and protect your personal assets. Although, it’s essential to create a holding company structure that will provide all those benefits and not create an added burden.The best holding company structures for small business acquisitions are limited liability companies (LLCs) or S corporations. They provide legal liability protection. And owners can benefit from registering a holding company in a business-friendly state and thus reduce their tax burden.Even though establishing a holding company for your small business acquisition

Suppose you are starting a business with a few shareholders on board. In that case, you might have reached the predicament of choosing between an S corp or an LLC. With these two choices having similarities, there is one question that remains. Is it possible for an S corp to own an LLC?An S corp can own an LLC. A Limited Liability Company is an entity that provides ownership interest through shares. These shares can be purchased by other business entities or individuals. An S corp is an independent legal entity, enabling it to invest

Overseeing a sales team is a challenge for anyone, whether the sales manager is new to the business or well-seasoned. Many studies have proven that incentivizing someone equals results; after all, who doesn't want extra compensation for their hard work? There are a handful of compensation models that can align incentives to entice your sales manager to become a sales-handling machine.To successfully motivate your sales manager, you can incentivize them with compensation for meeting sales metrics and KPIs, reaching high profit margins, and their behaviors. You can also reward your sales manager with a cliff

As a business owner with employees, payroll processing is a daunting task. After all, you know your business but little about payroll processing. The last thing your business can afford is to be fined for late payments or incorrect payroll calculations. You might wonder if there is a checklist to use when processing your payroll to avoid errors and delays.Payroll processing involves six basic steps: from confirming employee details to the payment of amounts deducted. Each of these steps can be further broken down into smaller tasks, which, if completed, will limit the risk of

According to a startling Harvard Business School research study, over 80% of employees feel they are not adequately rewarded or valued by their employers. Even though their wages are above US market rates.Fortunately, there are ways to incentivize employees without money, such as providing generous benefits. It also involved autotomy, purpose, flexibility, work-life balance, team-suggested incentives, personalized gifts, special privileges, professional development, a fun community, fostering leadership, and more.Like most people, employees need to feel valued. Favorably, the most effective incentives won't break the bank. And in some instances, it might only require a heartfelt