By Linda Itskovitz, GuideSpark
Today’s hot job market means that companies must find effective methods to entice talented individuals to join their company or risk losing top talent to a competitor. More than ever before, tried-and-true equity compensation programs are proving to be a valuable tool to attract and engage new prospects and employees.
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Yet educating employees on the value of these complex programs continues to challenge most companies. After all, the programs are inherently complicated and technical, and trying to make sense of them can quickly leave employees feeling overwhelmed and confused.
By focusing on simplifying the concepts related to equity compensation and taking advantage of a variety of communication strategies, companies can increase employees’ perceived value of the program and improve engagement with the company. Provided here are 10 best practices that employers can follow to develop an effective communication plan for their equity compensation program.