b'FOCUSEmployment Law UpdateBy Rebecca Bush Key TakeawaysBeyond Sweat Equity: Partner, Amundsen Davis Modern Compensation Strategies for Enhanced Engagement & RetentionTodays employment environmentNot all sweat equity benefit plans requires companies large and smallare appropriate for all organiza-to be deliberate when designing theirtions. Top considerations to keep compensation strategy. Our panelistsin mind when determining what is Kelly Haab-Tallitsch presented a high-level overview ofthe best option for your company Partner, Amundsen Davis the options available to executiveinclude company structure and stage, teams when designing compensationbusiness objectives, workforce con-packages that align with key businesssiderations, financial administrative goals and objectives. impact, compliance considerations, Top takeaways from this presentationand plan design elements.include:Non-traditional benefits speak your A critical first step is to determinecorporate values. These benefits your companys compensationtend to focus on work-life balance philosophy. Clarity around yourincentives, such as flexible work ar-companys goalse.g., do you preferrangements, unlimited or enhanced to attract top talent or developPTO policies, sabbatical programs, talent?and values play a criticalstudent loan repayment assistances, role in determining the appropri- and financial education resources. ate compensation strategy. WhenDepending on the design, they can implemented thoughtfully, compen- be tax advantaged.sation tools can help align employeeFor a full, in-depth discussion interests with company objectives,on the various compensation options increase engagement, and improveavailable to employers, see the link retention. below.Broadly speaking, there are two types of sweat equity compensa- WATCH FULL WEBCAST HEREtion. Traditional equity plans, such as stock options, and phantom equity plans, such as stock appreciation rights, are tools that help align your employees financial interests with the companys and increase employee retention.6ILLINOIS BUSINESS LEADER'