During this period, capital investment needs are great, but the company should not overlook improving salaries and benefits, and setting up a new short-term incentive plan. Long-term incentive plans are still used, however, as the company continues to promote capital programs fueling growth. Cash compensation may move up to market levels for executives, although salaries are still unlikely to be the most compelling attraction for entrepreneurial leaders. Short-term awards in the form of bonuses may now become affordable. Stock and option plans continue to be a strong inducement, particularly as the company realizes its growth potential.
Some creativity is needed as benefit plans are enhanced.
A company car is a prized perk for executives on the go. Split-dollar life insurance policies can be effective. Various types of childcare assistance have also become popular in recent years. Access to athletic facilities, or more extensive wellness programs, are appropriate. Additional vacation time is always appreciated.