Despite a Weak Economy, Stay Bonuses are More Popular Than Ever

Topics:
Compensation Guide
Tags:
Benefits,
Vertical Industries,
Turnover,
Software,
Morale,
Human Resources,
Healthcare,
Financial Accounting,
Finance,
Enterprise Software,
...
Source:
Crain Communications

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Overview: The article defines about the stay bonuses, its uses & states that if they are not used in right way they can pay off in low morale and additional turnover. Stay bonuses are used not only at companies that are downsizing or merging but also at high-growth companies that want to hold on to top performers. But these bonuses don’t guarantee that employees will stay, and consultants warn that if they’re not used correctly, they can lead to low morale, additional turnover and other problems. Stay bonuses are used in many industries, they’re more common among businesses that deal with customers on a daily basis, such as finance and health-care companies. One of the reasons for the increase in stay bonuses is that companies are more vulnerable during a weak economy. The use of stay bonuses also relates to a shift in retention strategies.

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Format: HTML | Date: Oct 2003 | Pages: 1

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