Incentive Compensation Plans
The desire to win and succeed is inherent in high-caliber executives. Rewarding them with the right incentives builds a highly motivated executive and management team. Radnor Benefits Group works with you to design incentive compensation plans that attract, retain, and motivate top executives while advancing your organization’s business goals.
By understanding your organization’s business goals and objectives— to grow revenue, increase net income, increase cash flow, introduce a new product to market or enter new markets — we can determine your specific needs. We then identify the appropriate short- and long-term incentives necessary to achieve the vision. We design and implement incentive compensation plans that best fit your situation, including cash bonus plans or equity based plans such as Option plans, Restricted Stock plans, Phantom Share plans, Performance Share plans and/or Stock Appreciation Rights plans.
Wealth Accumulation Plans
Competitive compensation attracts best-in-class executives, and the ability to build wealth over the long term is essential to fostering loyalty and commitment. Often more highly compensated executives encounter restrictions to these goals under the organization’s qualified plans. Our advisors help you design a wealth accumulation plan that provides income tax benefits to your executives to solve this problem.
Our team creates custom plans that provide both an additional savings vehicle and a retention tool, as well as supplemental retirement plans that help bring parity to highly compensated employees in relation to their salary levels.
Wealth Protection Plans
Protecting the wealth executives have worked hard to accumulate and reducing the risk associated with untimely events are critical concerns of many executives. Radnor Benefits Group guides you through the host of supplemental wealth protection options available to create a plan that best meets the needs of your executives. Supplemental plans provide executives protection against an untimely death, disability, medical, or long term care need at the same level as the overall employee population. These plans fill the gap inherent in the broad based group plan due to flat dollar benefit maximums.
Executive Total Rewards Assessments
Executives expect a high-value reward package for the leadership and insight they bring to their organization. Radnor Benefits Group helps you deliver the right mix of reward components to ensure it attracts, retains and motivates the best talent available, and offers optimal benefits to meet business goals while addressing executives’ needs.
Our team works with you to assess your current Executive Total Rewards package, benchmark the design and structure of the package against those of peer group companies, and identify opportunities for modifying or enhancing compensation and/or benefits to optimize the mix .
Our Executive Total Rewards Assessment delivers a critical, comprehensive analysis of existing:
- Total cash compensation: base salary and short-term incentives (e.g. annual bonus)
- Long term incentives: equity-based (e.g. stock option plans, phantom stock plans, restricted stock and stock appreciation rights plans) or cash for achieving long term goals
- Wealth Accumulation Benefits: non-qualified deferred compensation plans (e.g. 401(k) mirror plans, and Supplemental Executive Retirement Plans (SERP)
- Wealth Protection Benefits: executive life insurance, supplemental disability income and funding long term care protection
The outcome is a greater efficiency relationship between the value of the package relative to the cost. This is achieved through better tax leverage, group and institutional purchasing and motivational and performance driven plans.