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In this tutorial, the speaker emphasizes the importance of using split dollar plans to reward and retain key employees, highlighting that employee retention is essential for business growth. While competitive salaries, retirement plans, health insurance, and stock options are common incentives, thinking outside the box is crucial for effectively retaining valuable staff. The speaker encourages businesses to consider innovative benefits that not only motivate employees but also allow for cost recovery. Such strategies can be vital for sustaining the workforce and preparing for future business transitions, including retirement or exit.
