Choosing the right partner is important. Your dance teacher might be fantastic at samba but utterly terrible for doubles tennis. Your best friend could be great to go hillwalking with but the last person you’d select for a table quiz.
Why should it be any different when it comes to running your business? From the electricity supplier to the internet provider and everything in between, you’ll want to be sure each relationship is working just right. Sometimes you’ll need guidance, like with your equity plan management, and that’s when you talk to the experts.
Sinéad Redmond, Global Shares’ Technical Pre-Sales and RFP Manager, advises “whether setting up a scheme in the first place or transitioning from another provider you need an equity administrator who can handle that burden for you. It’s a very complex issue so choosing the right provider for your company is key.”
Sorting your company’s employee equity management solution isn’t something you’ll fit in during the already scary downtime between answering e-mails and phone calls from your own customer base, so these are Sinéad’s top 5 suggestions to keep in mind when searching for an equity administration provider.
1. The human element and a guiding hand there when you need it
2. Understand it’s okay to not fully know what you’re looking for. That’s why experts exist
3. As your company grows will your equity management solution provider be able to continue to support you – even as you expand globally?
Needs change over time. That stroller you bought for your new born is perfect now but won’t be much use when they’re 17 and looking to borrow the car. It’s the same with your business.
“You’ll want to be sure that your equity plan management provider is as forward thinking as you are,” Sinead advises.
4. How is your data treated? Look at the level of privacy and security afforded to your data
5. What’s their ethos? Choose a company that you’re proud to do business with
You know that expression about how you can judge someone by their friendships? When it comes to your business relationships keep that in mind.
“Corporate social responsibility. Culture. Values, ” Sinéad states. “Don’t underestimate how much these mean to people. Your company and your staff are the most important thing to you and you want whoever is administering your equity plan management to be someone you can trust and believe in. The culture of the firm that you hire should be reflective of this.”
The days of farming services off to faceless corporations are gone and people want to interact with a company that they can be proud to work with.
Spend some time researching the company. Great Place to Work Awards (we are proud winners). Remote working policies or flexible working polices for parents and carers. These are all things that will give you an insight into who you’re partnering with.
Ultimately it’s about picking a team who you can trust and believe in.
So, whether you’re setting off on your equity management journey, already underway or even if you’re lost in the weeds somewhere give us a call.