Enterprise management incentives: their advantages in a time of uncertainty
Coronavirus has disrupted the economic wellbeing of businesses of all sizes and sectors, in many cases necessitating pay cuts, furloughing staff or cutting performance incentives such as bonuses. Writing for The Accountant, Matthew Poli, head of corporate at BLM, looks at an alternative solution to maintain staff loyalty.
"While a drop in revenue might limit a fiscal reward for employee hard work over such a difficult period, businesses are increasingly looking towards enterprise management incentives (EMIs) as an attractive alternative remuneration package.
"It is a route that clients should consider if seeking employee benefit schemes during this time. For keeping hold of leading talent, an EMI can be a key weapon in a business’s armoury, especially if it is concerned that key talent is looking elsewhere if they have been affected by business restructures or if other remuneration packages have been reduced or halted. Without the need for an immediate fiscal injection, it can help galvanise internal relationships, particularly in times of uncertainty like these."
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