An EMI shared option scheme can help to give employees more power and motivation within the company that they work for.
It can work well for the business as then they have a percentage of the company that they are no longer are accountable (for tax purposes).
You may not have heard of these EMI Option Schemes before, or have your queries relating to how they operate.
It is perfectly normal to wonder what benefits would be available to you, as well as to consider are there any disadvantages with EMI option schemes? – click the link if you would like more information.
Benefits Of EMI Option Schemes
EMI stands for Enterprise Management Incentive, meaning that, for a fixed price, an employee can invest within their own place of work.
This can help to increase work by individuals. It can be offered to certain individuals of your choice within the company or the entire workforce.
Partaking in an EMI Option Scheme can help to reduce your level of corporation tax.
This can help to improve your profit margin and stop you from having to give up your usual level of business taxes.
There is also no tax cost to yourself for using this scheme.
Employees Also Benefit From The Scheme
Not only do they have a share within their company, but they can accrue money based on interest and they can also sell the share at a higher cost.
If the employee ends up selling at a loss, while the situation overall may not be good for you, you will have made a little money back.
It is up to you how much of a share each employee gets, but you may wish to talk it over with a professional or governing body so that you have full information before you reach a decision.
Alternatives to Boost Employee Morale
This may not be possible, or feasible, within your company, so you might want to think of other options to help increase productivity and motivation, without selling off shares of your business.
Something as simple as ordering takeout to the office once a week can bring a smile to your employees’ faces and make them feel a bit more appreciated.
Giving employees bonuses based on performance, or even gym memberships while working for your company, can also help your employees stay on top of their physical and mental health, as well as to increase the desire to work at their optimum level.
Taking part in EMI Option Schemes can be a great way to keep people happy at your company, and decrease the likelihood of staff turnover.
It is important to note that being a part of this is not compulsory, meaning it is up to you as to whether or not you implement it.
It may be useful to gain feedback from employees as to whether they would like to see this scheme in place at work and consider that information when deciding whether or not EMI Option Schemes are a good fit for your workplace.