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In this tutorial, the speaker emphasizes the importance of using split dollar plans to reward and retain key employees, a crucial aspect of business growth and stability. They highlight that while competitive salaries, retirement plans, and health insurance are standard, thinking creatively about employee retention can be essential. The speaker encourages exploring innovative benefits that not only attract talent but also allow for cost recovery. This strategic approach can support the long-term success of the company and prepare for future transitions, such as retirement or exiting the business.
