{"id":124719,"date":"2024-10-23T00:00:00","date_gmt":"2024-10-22T23:00:00","guid":{"rendered":"https:\/\/gs:8890\/academy\/five-must-knows-of-equity-plan-management-provider\/"},"modified":"2019-10-16T00:00:00","modified_gmt":"2019-10-16T00:00:00","slug":"five-must-knows-of-equity-plan-management-provider","status":"publish","type":"post","link":"https:\/\/www.jpmorganworkplacesolutions.com\/hk\/insights\/five-must-knows-of-equity-plan-management-provider\/","title":{"rendered":"5 things you have to know when looking for an equity plan management provider"},"content":{"rendered":"

Choosing the right partner is important<\/strong>. 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\u2019d select for a table quiz.\u00a0\u00a0<\/p>\n

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\u2019ll want to be sure each relationship is working just right. Sometimes you\u2019ll need guidance, like with your equity plan management, and that\u2019s when you talk to the experts<\/strong>.\u00a0\u00a0<\/p>\n

Sin\u00e9ad Redmond, Global Shares\u2019 Technical Pre-Sales and RFP Manager<\/strong>, advises \u201cwhether 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\u2019s a very complex issue so choosing the right provider for your company is key.\u201d\u00a0<\/p>\n

Sorting your company\u2019s employee equity management solution isn\u2019t something you\u2019ll fit in during the already scary downtime between answering e-mails and phone calls from your own customer base, so these are Sin\u00e9ad\u2019s top 5 suggestions to keep in mind when searching for an equity administration provider.\u00a0\u00a0\u00a0<\/p>\n

1. The human element and a guiding hand there when you need it <\/h2>\n

\u201cNever underestimate the importance of having a named support person who you can trust to offer assistance when needed,\u201d Sin\u00e9ad says. \u201cStock plan management is difficult<\/strong>. Sometimes you might need to be handheld. So you have a specific client relationship manager or your own equity plan management team? Having that dedicated support staff you can contact is a big deal<\/strong>.\u201d\u00a0\u00a0<\/p>\n

Whether it\u2019s a fully managed solution, a bundling option or even a SaaS set-up you don\u2019t want a piece of software with a faceless-mailbox at the other end.\u00a0\u00a0<\/p>\n

The current trend for tech and financial service providers to remove that human factor is something both existing and prospective clients are pushing against in Sin\u00e9ad\u2019s recent experience.\u00a0\u00a0<\/p>\n

\u201cWe see our competitors trying to move people away from having that personal support but we\u2019re finding it\u2019s actually really important,\u201d Sin\u00e9ad explains. \u201cA large portion of the queries we\u2019re getting from companies is about having that team available and on hand.\u201d\u00a0\u00a0<\/p>\n

2. Understand it\u2019s okay to not fully know what you\u2019re looking for. That\u2019s why experts exist <\/h2>\n

Nobody wants to feel like they\u2019re the only one in the room who doesn\u2019t know what\u2019s going on, but when it comes to equity compensation that\u2019s often the case. And it\u2019s okay, equity management and stock option management solutions are complicated. Remember the business of running your business is what you\u2019re the expert in.\u00a0<\/p>\n

\u201cOften with companies who\u2019ve tried to manage their own stock plans, the data is wrong,\u201d Sin\u00e9ad says. \u201cMaybe they\u2019ve had people who didn\u2019t know how to administer them or they\u2019ve not had any expert support, but a single button solution is just not doable because you need a level of data auditing and expertise.\u201d\u00a0<\/p>\n

Regardless of if you\u2019re at the pre-seed stage, currently looking for venture capital investment or making your first steps starting out there is a specific solution that\u2019s just right for you. Equity administration is about saving you time, taking that manual element off your hands and freeing you up to focus on the important business of growing your business.\u00a0<\/p>\n

\u201cIf we have the details and description of the problem, we can work on a solution for you,\u201d Sin\u00e9ad advises, noting that 47% of Global Shares staff hold a specific equity plan management qualification. \u00a0<\/p>\n

3. As your company grows will your equity management solution provider be able to continue to support you \u2013 even as you expand globally?<\/h2>\n

Needs change over time. That stroller you bought for your new born is perfect now but won\u2019t be much use when they\u2019re 17 and looking to borrow the car. It\u2019s the same with your business.\u00a0\u00a0\u00a0<\/p>\n

\u201cYou\u2019ll want to be sure that your equity plan management provider is as forward thinking<\/strong> as you are,\u201d Sinead advises. <\/p>\n

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\n\t\t\t\tDo they offer global coverage? Is it scalable?
\nCan your plan grow as you do?<\/br>\t\t\t<\/p>\n