Visit the OAMPS Insurance Brokers: Key Business Person Insurance Calculator
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What’s your business partner’s worth? There are a range of products on the market that can mitigate the risks a business may face. These protect future income streams and the sustainability of the business. In response to these challenges, OAMPS Financial Management, a Wesfarmers Company, have developed a tool for businesses to calculate the value of their ‘key people'. An example of what an individual may be worth to a company: To work out who in your business is a ‘key person’, ask yourself whether their skills and knowledge provide a large economic contribution to the business. For example: The head designer of a fashion company who has a strong retail presence and innovative ideas, but less influence on sales, earning a salary of $200,000 per annum, could cost as much as $4.5 million for the company to replace.
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