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Are you the employer who understands and believes that the ability to attract, retain and motivate talents strikes at the very heart of your business prosperity and continuity? After all, your people are the core to achieving the business goals and targets as well as win over your market share (customers). And as a "choice employer", you save on recruitment and training costs on any replacement and potential downtime or opportunity cost resulted in the loss of an employee.
Alpha works with institutions to design a best suited employees compensation and benefits plan as well as the communications plan for all employees under the scheme. Plans or schemes which are crucial for institutions to implement include:
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Very often, business owners have worked years to build their businesses and want that success to continue, even after they have passed away or retired. This is what we call, a transition planning or exit strategy.
Unforeseen events such as death or critical illness befalling a shareholder / partner / sole-owner can possibly create financial difficulties for dependants or surviving partners to buy over the share of the deceased or critically ill partner. This can undermine the going concern of the business as well.
On the other hand, when business owners are ready to pass on the baton, they may face challenges in finding the new owner and / or to sell the business at the desired value. Or, if it's a family transfer, they could end up leaving family members with issues such as conflicting interest to the inheritance or alter the balance of power within a company / partnership, affecting the existing shareholdings and years of effort put in may be misdirected.
It is prudent to work out a succession plan early to ensure the continuation of the business and interest of shareholders / partners as well as to secure the inheritance to the family members.
Alpha works closely with our clients to develop a transition plan whereby the client has the option to pass the business on to the next generation without diluting the control of shareholdings, or sell the business to outside interest at a fair value.
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Institutions depend on the skills and talents of their human capital to stay competitive. The biggest challenge institutions face is to attract and also to retain these talents who are prime movers of their businesses.
There are many options available to institutions; from creating a conducive work culture and environment; to competitive remuneration packages and implementing employee benefit schemes.
How can institutions differentiate themselves from their peers to reward their talents? A corporate pension plan is an innovative retirement scheme to help institutions attract and retain the right talents. An approved pension plan offers tax benefits, lower administration charges and professional investment advice customised to the needs of both the institutions and their employees.
Alpha can help you craft out appropriate solutions in creating a new reward scheme which meet both your institution's business goals and your employees' needs.
Please refer to the Investment Management Section for details on how this scheme works.
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In recent years, Directors and Officers liability insurance has become a core component of corporate insurance as more companies realise the potential threats surrounding its management in its daily decision making responsibilities and duties, which also comes with its liabilities and obligations.
Under Section 172 of Singapore Companies Act, Directors and Officers cannot be indemnified against any liability in respect of any negligence, default, breach of duty or breach of trust of which he may be guilty in relation to the company.
However, this section shall not prevent a company from purchasing a Directors and Officers insurance to cover the liabilities of these Directors and Officers (with conditions). As more corporate governance failures come into the limelight these days, the possible source of such exposures include from the competitors, regulators, employees, creditors, shareholders, past directors and officers and the general public. And the possible types of allegations on the Directors and Officers can include:
- Mismanagement of operations or company assets
- Self-dealing and conflict of interest
- Misrepresentation in securities offering prospectus
- Acts beyond authority granted in articles
- Violation of certain statutory laws
- Breach of fiduciary duties
The hefty legal cost of a law suit is not necessarily a liability for the company, but that of the alleged Director or Officer, as per understanding Section 172 of the Singapore Companies Act. We advise companies to protect your Directors and Officers from being financially drained due to a legal suit during their course of office in contributing to the management and growth of your company.
Alpha works with our partners to design the appropriate Directors and Officers insurance plan as part of the remuneration packages to attract, retain and protect your Directors and Officers.
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Providing employees with the appropriate employees' benefits they want is a great way to increase their satisfaction levels while helping the corporation improve its productivity, efficiency and morale. Alpha offers a full range of solutions from healthcare to life insurance protection and wealth enhancement and helps the corporation manage its employees' benefits while the business owner manage the business. Some of the common insurance benefits and wealth portfolio planning include:
- Corporate Hospital & Surgical benefits
- Corporate Group Dental benefits
- Corporate Term Life / Critical illness plan
- Corporate Accident / Travel plans
- Workmen Compensation plan
- International and Expatriate Healthcare Insurance plan
- Personal Wealth Portfolio Planning
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All institutions will have their share of members or employees who are key to the success of the venture. The loss of such an employee can put a business into financial strain and suffer business interruption which include loss of investor's confidence on value for investments and creditor's goodwill extended for credit lines or overdraft facilities. Events resulting in the loss of key employee can be due to turnover, employee's death, critical illness or permanent disability.
To mitigate this financial loss and secure the value of the business, institutions can purchase a key-person revenue loss protection cover. The insured amount should commensurate with the estimated financial loss to the business in the event of the employee's death or critical illness / permanent disability, as the institution usually receive the proceeds as the beneficiary of the cover.
It is also important to note the tax implications for premiums paid for such cover and the benefit proceeds received. Alpha provides a 1-stop solution to help you manage the process and implement the plan which involves our legal, tax and insurance partners.We provide you with a piece of mind on your business continuity.
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Risk Management