In this episode of the Perfect Plan Podcast, our SEB CEO Matt Schiff invites on his father, Bud Schiff to discuss the key things a company can do to strengthen employee retention. As a business owner, how do you keep your best people and properly plan for yourself and your executives? Well, Bud Schiff, past President of Mutual of New York (MONY), past president of NYLEX Benefits, managing director of Alvarez and Marsal gives his insight of over 50 years in this podcast about employee retention strategies. If you want to find a way to “retain” your best employees in a post no “non-compete” environment, listen up, and then give us a call. It’s easier than you think, and it costs more to retrain a new hire, than it is to retain your best employee.
Key Insights from Episode 4:
"The 6 main items Bud Schiff would focus on if he was building his financial practice today."
1. Insurance and
2. Risk management
3. Tax planning
4. Capital and liquidity planning
5. Succession planning
6. Retirement planning
"The most important thing that I see out there is that 85% of the small business owners when they're surveyed say that they don't have a succession plan."
The value of a Phantom Stock Plan
Learn More About Schiff Executive Benefits & Watch This Episode: