‘When I grow up I want to be an Equity Plan Manager’ said nobody, ever.
And yet every morning Equity Plan Managers around the globe get out of their beds, put on their suits and go to the office to manage Stock Option Plans, ESOPS, LTIPS, RSPs and many other types of Equity Incentive Programs.
Equity Plan Managers are a unique breed of individual in that they must be experts in so many fields to be successful at what they do. What is the difference between a good Equity Plan Manager and a great one? The best ones do their job so well that you don’t notice them doing it.
Successful Equity Plan Managers have the following key characteristics:
1. Excellent attention to detail. They are able to digest information from many sources all at once – tax, legal, accounting, HR, brokers, payroll – organize it, interpret it and analyze it. Impressive.
2. Strong Communication Skills. They possess a rare skill of understanding the pressures that companies, employees and service providers are under, always managing to find a solution that works for everyone. They publish booklets, present briefings, educate and provide guidance, bringing everyone along with them.
3. Knowledge. They are forever expanding their industry knowledge, enabling them to advise on a wide range of topics – from share plan design through to implementation and operation.
4. They unreservedly accept the ever-changing nature of the equity compensation environment, which is further complicated by employee mobility, cross boarder reporting requirements and new taxation/accountancy regulations. Any other person might struggle to accept such uncertainty and complexity.
5. Assured. They confidently interact with all levels of staff within their Organization, from new arrivals right up to CEO level, which gives them a certain status among their peers.
6. Exceptional networking capabilities. Equity plan administrators can thrive or die by the breadth and quality of their people network. They are plugged into an industry where strong connections are critical for success. They develop a great rapport with their work and industry colleagues and when they are faced with a particularly difficult scenario they know whose number to dial.
7. Reliability. Their very structured and focused approach helps them to deliver consistently in their role.
8. Technically Adept. The new generation of Equity Plan Managers use the latest software solutions as their Secret Power. They transform their administration processes using equity automation software, which synchronizes information from all departments, assuring all reporting needs are met, eliminating paperwork, reducing risk and offering the participant a superior experience.
So do I have what it takes to be a successful Equity Plan Manager?
Most certainly not!
Superhumans need only apply.
About Global Shares
Find out more about Equity Automation Software by contacting Global Shares, a market leading global provider of Equity Software, Administration & Financial Reporting Services, working with over 450,000 employees in over 100 countries worldwide.
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Please don’t hesitate to contact us!