More and more companies are using bonuses to reward employees for sticking around.Culpepper's Global Trends and Benefits Surveys had this to say early in May:
Results from last month's Culpepper Trends Survey on Retention Bonuses indicate that about a third of technology and life sciences companies use a formal or discretionary retention bonus plan to retain key employees This practice is more common in larger companies but does not vary by industry sector
Personally, I think this is a great idea on many levels. In addition to cash bonuses, there are other things you could give out that, I believe, would be even more interesting and attractive.
For example:
- The opportunity to get an upgraded computer
- One-daya week for a month to work on approved, self-directed projects
- Have an extra day off,
- A company-paid stay for two at a resort closeby
Look, any company can give out cash. Would your star employees be so hasty to jump ship if they felt like you really valued them (not just what they do for you)
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