Many business owners may be interested in gaining liquidity from the equity in their business but still want their legacy to carry on through the company’s future success. By selling all or part of their company to an Employee Stock Ownership Plan (ESOP), they can achieve both of these objectives. Like other exit strategies, selling to an ESOP generates liquidity
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Nearly every employer needs an employee handbook. It’s the official documentation of workplace policies. It sets expectations and outlines rules employees need to understand. But if you aren’t careful, it can create new problems. One example in the spotlight right now is employee handbook language that violates employee rights under the National Labor Relations Act (NLRA). In a March 2015
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Charles Schwab’s most recent generational study shows investors between the ages of 30 and 45 control nearly $3.5 trillion in investable assets. What’s more, over the next three decades, $16 trillion in investable assets is projected to transfer to the next generation. Numbers like this tend to pique financial advisors’ interest. An extraordinary amount of money is set to change
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For more than a decade, Missouri businesses have faced an uphill battle in lawsuits over whether discrimination played a role in firing decisions. Currently, an employee who brings a retaliation action against an employer must prove only that discrimination contributed in some manner to the adverse action. In most other states and in federal court, the plaintiff employee must prove
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The retirement plan landscape in this country is changing – fast. In response to rising scrutiny from the Department of Labor as well as a surge of lawsuits, employers have become increasingly aware of the need to improve their fiduciary processes. Business owners and executives are starting to ask themselves a very important question: Am I doing the right things
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What constitutes a “Best Place to Work?” Is it the level of pay, the quality and cost of benefits, the advancement opportunities, or the organizational culture? The truth is that all of these play an important role, but you can make your work place a better place to work with programs that are valued and appreciated by your employees, without
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Many organizations think of “employee engagement” as simply the latest buzzword in HR practices. However, employee engagement strategies, especially employee-centered events, can boost employee morale, productivity, and commitment to the organization. There are many types of events that companies sponsor, such as having “volunteer work days” where groups of employees are given a day off to volunteer at non-profit organizations
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Most businesspeople think about the future of their firm on a daily basis: Where will the next dollar come from? What opportunities will be next? What strategy is best? But many businesses overlook one vital part of their future: their succession plan. A succession plan is important for savvy business owners; it ensures that when they choose to retire or
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On May 2, human resource professionals and businesses across the State will celebrate Missouri HR Day. Missouri HR Day is about reflecting and celebrating the accomplishments of the individuals or groups involved in the human resources profession. The idea for a day of celebration was conceived by the Missouri State Council of SHRM, an affiliate of the Society for Human
Read moreAs a member of the Labor Commission, I’ve noticed that employers are losing many unemployment claims that they should win, likely because some employers simply do not understand the unemployment system. Because employers pay for unemployment insurance, education about the issue is important. Picking your fights You can’t contest every claim, so choose your battles wisely. Fight claims if you
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