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Esop - Planning For Employee Share Ownership In Your Canadian CompanySeptember 7, 2008Home Tags:
Incorporating employee share ownership plans into your company can be a great way to increase productivity and employee cohesiveness. Employees with a stake in the company will feel that they truly have something to work for, and will likely be more willing to entertain the ideas of management, and carry through demonstrated success tactics on a regular basis. Here are some steps to take when you are planning to implement an employee share ownership program into your company.
Determine a timeline. The company will want to set some limits on just which employees can have shares, and how many can be retained. You should have an employment timeline in place, with new employees ineligible to buy stock until a certain amount of time has passed with them in the employ of the company. There should also be a date agreed when the company offers the matching amount on the employee’s contribution; this will usually be at the end of the year. Plan an informational session with employees. This is best done in a group setting, where questions can be asked freely. Make sure the presentation is very clear, so that employees will understand the benefits the program offers. Doing informal one on one sessions often leads to feelings of nervousness on the part of some employees, as they wonder if the program is going to be by invitation only, or if they’re getting the same deal as the next guy. Stress is the inevitable result. More and more companies are taking advantage of the cooperative environment that employee share ownership brings about. It is an idea that is just beginning to break through in Canada, and the best way to implement the plan is through the services of professional accountants, stock experts, and human resources personnel. Article Source: http://www.tips.com.my About the Author: For more information on this article or building an ESOP, visit ESOPBuilders.com Who owns the home appraisal? The appraisal is controlled or owned by the client/entity who orders the appraisal. In other words, the appraisal is controlled or owned by the client/entity who engaged the appraiser to perform the appraisal. If a mortgage lender, such as ABC Mortgage Company, ordered the appraisal, the mortgage lender owns the appraisal, even if you paid for it. If you ordered the the appraisal for non-lending purposes, such as a County Tax Dispute, then you own the appraisal. 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