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June 3, 2022

Attracting and retaining valuable human capital

Recruiting executive level employees means offering executive level benefits

When attracting executive level talent, it is important to offer a benefits package that goes above and beyond their needs. Marsh McLennan Agency (MMA) offers an array of products and services that will help you attract and retain the kind of valuable employees that set your business apart from the rest.

For executives, ordinary coverage isn’t an option

When an accident happens, your executives and key employees face a greater personal liability risk because they have higher incomes and more assets. While they may try to protect themselves by buying traditional umbrella insurance, it may not be enough. 

A group personal excess liability (GPEL) insurance program through Marsh McLennan Agency Private Client Services (MMA PCS), gives your key employees added peace of mind when it comes to their finances. It’s a valuable benefit that helps you retain and reward your top talent while preventing their personal risk from becoming a corporate risk.

Combine resources to offer a cohesive financial benefit

High net worth employees are essential and valuable assets to your company—as is their time. Harvard Business Review reported that executives spend about 10% of their workday, approximately four hours a week, on personal matters. While traditional benefits are necessary in the corporate world, offering extended benefit options like retirement, deferred compensation, and equity programs could be crucial in finding and retaining top-performing executives.   

The executive financial planning, or concierge program, is designed to address the complex needs of executives and their families, with an emphasis on making sure executives understand the total benefits program offered to them, including non-cash compensation benefits. The benefit may consist of developing a comprehensive financial plan or a segmented approach focused on individual subjects. Each relationship is personal, confidential, and tailored to their needs. 

Services included in this plan consist of:

  • Benefits Education & Decision Support

  • Duplicate Comprehensive Financial Planning and Wealth Management

  • Equity Compensation Support

  • Life insurance

This plan allows you to provide exceptional employee benefits while also allowing us to advise on and mitigate some of the risks associated with these high-level programs.

Above and beyond the standard benefits package

By offering executive benefits that stand out amongst your competitors, you will be able to attract and retain valuable executive talent. 

The Executive Benefits Practice assists employers with attracting and retaining committed and experienced executive talents who are critical to organizational excellence and success. At MMA, we help our clients in developing competitive executive incentives and benefit programs that provide outstanding results.

With depth and expertise in the following areas, we can help you with: 

  • Executive total rewards assessments

  • Wealth accumulation and protection

  • Business risk protection

  • Business consulting services

Let us design a customized executive program to meet the needs of your organization.

Marsh McLennan Agency has an array of executive benefits offerings, contact an MMA Representative to review your plan and provide feedback where you could be more competitive.