Changes in employment law taking effect tomorrow could see staff trade rights like statutory redundancy payments and the right to claim unfair dismissal for shares worth at least £2000, with the first £50,000 of shares exempt from capital gains tax.
The proposals have been criticised over claims that they could erode workers' rights and lead to tax avoidance.
There have also been reports that the take up of the contracts among businesses will be low.
But law firm HBJ Gateley claims the changes could make it more attractive for experienced staff to join small and medium-sized enterprises (SMEs) that show potential for growth.
Jacqueline McCluskey, a partner in HBJ Gateley's employment team, said: "This legislation could be a big pull-factor for growing SMEs looking for experienced employees.
"They will be able to use this as a marketing tool to high level professionals who might not otherwise choose to work with a small company but can see future success in the business.
"High earners are unlikely to be put off by the loss of some of their employment rights and will be attracted by the opportunity to have a share in a small or medium-sized company with big potential.
"This could make SMEs more attractive as employers, particularly to those who are willing and able to take the risk on the equity."