People are our asset
Assuming you are structured as a limited company rather than a Partnership then one of the best ways to incentivise staff in a professional services type business such as a consultancy or an agency is to give them an equity award.
If the company generates dividends which are paid out to shareholders then a SIP can be an ideal way to align the success of employees with the owners. Or if growing the business in the hope of a sale is the business plan then an option scheme such as EMI might be a good fit.
Partnership to Employee Ownership
Many organisations which are currently structured as LLPs can now convert to Employee Ownership and therefore distribute the ownership of the firm more widely, while creating an environment for former Partners to manage succession and the realisation of value.
How Pett Franklin can help
We can help businesses design and implement share schemes to incentivise employees and or convert businesses into Employee Ownership Trusts.