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Corporate Board Memer | Pearl Meyer

Private Company Compensation: Retaining Key Talent to Ensure Long-Term Success

Finding and retaining top talent is increasingly challenging due to tight labor markets and shifting workforce priorities like work-life balance. Private companies struggle to compete with public companies, especially regarding equity-based compensation. However, using creative compensation, noncash rewards, training, and career development can help attract and retain employees. Combining compensation with development opportunities allows employees to see a future at private companies that public companies may not offer.