As an employer, you may be considering implementing a Nonqualified Deferred Compensation Plan (NQDC) for your key employees. However, your board of directors may have some concerns regarding the cost, risk, and complexity of this plan. Don’t worry, this article provides four tips that can help you prepare for success.
Why Do Banks Underutilize Deferred Compensation for Key Executive Retention?
Deferred compensation provides a unique savings tool for key employees and has proven retention qualities. So why is this widely used strategy in corporate America being overlooked in the banking industry?