Retention bonuses? Any employers do this? What are employers doing to keep their staff?

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We do it on an as needed basis. If you receive between $10-24,999, you have to sign a 1 year clawback agreement. Anything over $25k is a 2 year clawback. Below $10k, if you leave just don’t expect that you didn’t burn bridges behind you if you want to come back. But that’s just one option and isn’t always the right thing to do. It’s based on the situation and sometimes is as easy as an hours change, a relocation the person needs, changing their work or team, allowing people to have the time off they scheduled, etc.

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Never heard of this, bumping cuz this is some crazy shit if true

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Is it retention based on a business move- merger, or some other type of disruption or a retention offered to current employees due to how the market is so employee-centric right now?

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I was just wondering in general what companies are doing to keep employees. I’ve noticed plenty moving around.

Yes, my employer does this for new employees. Also I recruit for a hospital on the side and the do it for clinicians , nurses and doctors since they are in such high demand.

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What about for current employees? I see people at companies for 10 years who leave because management doesn’t listen

yes but only when someone is telling us they have another offer on the table

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Do you match the offer?

We do this.

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What’s it based on?

Same here. We do it to retain top talent.

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Yes. Many employers are doing this to try to keep their talented staff members to stay on board and not leave. Job market is hot right now. Too many job openings and not enough bodies and/or good talent to fill all the open roles. So this is a good way to keep turnover from preventing and keeping your most talented people.

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Yes. We’re doing this.

Not a super formal process. If leaders are struggling with retention, they partner with me on retention strategies. A retention bonus is one tool in our toolkit. If we decide that’s the right approach, we partner with our comp team to determine the right amount and messaging.

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I have seen this especially for those working on key projectsz

Yes we have them for warehouse employees. $2/ hour for every hour worked and $3 for every overtime hour worked.

To keep employees in an incredibly mobile market our firm has employed - more wellness offerings, permanent flexible work options including relocation and remote options, stipend monthly for home office, full cell phone reimbursement, no increase to health insurance premiums for 2022, a more comprehensive bonus plan, and there are some targeted retention bonuses for folks who have counter offers or, high performers, or needed resources expressing concerns (these bonuses are attached to a promissory note with 1 year clawback).

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