How to Keep Your Top Talent: Executive Bonus Plans with Gary Cassill

Episode Summary: In this episode of Navigating Growth, Joel Calkins sits down with Gary Cassill of The Leavitt Group to dive into a unique and often overlooked tool for employee retention—executive bonus plans using life insurance. Gary shares how these plans help business owners reward and retain top-performing employees while leveraging tax-advantaged financial strategies. If you're a business owner struggling to keep your best people from jumping ship—or planning your own exit strategy—this episode is packed with insights that could help you protect your talent and build long-term value. 🔑 Key Topics Covered: What executive bonus plans are and how they work Why life insurance is a powerful and emotional retention tool How employers can selectively reward key employees without needing to offer benefits across the board The "Velcro effect" of layered benefits: how to make your team more loyal Real-world cost ranges and ROI of offering executive bonus life insurance Using policies for succession planning and ownership transition The hidden cost of employee turnover—especially in leadership roles 💡 Notable Quotes: "Every bit of Velcro you add helps your employee stick to your company and not jump ship." – Gary Cassill "You're not just giving a benefit to the employee, you're giving peace of mind to their family—and they become advocates for staying too." – Joel Calkins 🧠 Who This Episode Is For: Business owners and founders HR and benefits decision-makers Leaders planning for succession or ownership transitions Anyone interested in retaining high-impact team members with creative benefits 📌 Resources & Mentions: The Leavitt Group Northwest – https://www.leavitt.com/northwest Contact Gary Cassill for more on executive bonus plans 🎧 Listen & Subscribe: Make sure to follow Navigating Growth wherever you get your podcasts—and leave us a review if you found this valuable!