b'ACCOUNTING COLUMNCreating an ownership structure that allows for employees to Having in place an educational program to help employeesshare in the growth of the company, without owners needingunderstand how the plan, and ownership, work. For to give up control. example, not all employees are able to distinguish clearlyCreating a program that acts as a catalyst to drive corporatebetween their future rights as minority owners and simply remaining good employees and focusing on their day-to-growth and provides employees with the ability to say, wedayresponsibilities. are doing this together instead of I am doing it for them. This is a major benefit of employee ownership.Both profit- and ownership-sharing programs have enormousDeveloping a flexible ownership structure from the outset value in the right situations. Spending the time upfront to that can evolve with the needs of the business and theplan and clarify the needs of the business, its owners and owners. In this way, ownership could eventually shift entirelyemployees will go a long way to help develop a structure and to employees along a clear, predetermined plan.implementation plan that makes the plans successful. Having a system and methodology for how employees will beable to obtain their shares. Will they have to pay full marketEben Louw, CPA, CA is Partner, Business ConsultingAssurance at value for such shares or a discounted value? Will the fullMNP LLP. You can reach him at 604-853-9471 or eben.louw@mnp.capurchase be made immediately or be done over time? Will a bonus system be used to help employees pay for their shares,Brian Laveck, CPA, CA is Partner and Regional Leader, Real Estate and or do they have to come up with the funds themselves? AreConstruction Services at MNP LLP. You can reach him at 250-979-1731 the owners willing to help employees buy in or not?or brian.laveck@mnp.ca YOUR PEOPLE ARE YOURGREATEST ASSET.Protect them when they drive for work.Find out how atRoadSafetyAtWork.caRSAW 2020_Constrtuction_7x6.333.indd 1 2020-01-09 10:51 AMSICA CONSTRUCTION REVIEWSpring 202035'