What kind of employee would be a key person?
A key person is an employee whose services are of such a nature that the owner would suffer substantial financial loss due to the employee’s Total Disability. These employees offer their employer knowledge, skills or talent that few others can imitate or duplicate. The industry they work in or the nature of their work may be so specialized that there are few others with the skills needed. Many of these occupations have a component of design or research to them. Typically, the unique skills possessed by a key person are not totally acquired through education or even experience but are attributable in part to their own creativity, talents and interests.
Related Questions
- What EPAF do I use to hire an employee into an adjunct faculty position considering the person recently retired and is receiving retirement benefits?
- How many references are required per key personnel and if a key person is a current employee of the offeror, can the offeror be used as a reference?
- Can a service provider, or an employee of a service provider, be a key person?
