Ark Financial’s Jeff Socha was featured in Executive Benefit News:
In today’s economy, the supply versus demand ratio of good jobs and great talent is definitely skewed in favor of those with great talent. In 2008 the economy went over the cliff and companies had to cut everywhere, including benefits, bonuses and even salaries. Over the last seven years the economy has been on a very healthy rebound and so have business balance sheets and bottom lines. One area of business that hasn’t kept pace with the rebound is compensation for key talent – the A players that really make the company thrive.
If you are talented and have highly desirable experience and skill, you are getting calls from headhunters trying to get you to switch companies. The offers can include better benefits, signing bonus, increase in base salary and hefty written bonus plans. For the really key people, they are also getting executive benefits such as deferred compensation plans, restricted executive bonus plans and cash balance plans. These types of exclusive incentives not only get top talent to switch companies, but they also get the top talent to stick with the new company.
For the full op ed, click here.