For Good Measure
Putting a price on your most valued employees
How much are you worth to your company? A million dollars of revenue a year? Thirty million? What about the sales manager who's spent 10 years making contacts in your industry? Impossible to quantify? You'd better try.
"If someone buys equipment, they don't think twice about insuring it," says David B. Schulman, a chartered life underwriter and chartered financial counselor for Massachusetts Mutual Life Insurace Co. in Fort Lauderdale, Florida. "Yet the success of a small business depends more on its people than on its capital equipment. If a key individual dies, a business can suffer debilitating financial loss."
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