Bonuses For Retaining Key Personnel

In times of shortages of staff with good training levels and experience, economic incentives may be a good way to protect your company's human capital.

Tuesday, July 5, 2011

Job retention bonuses are incentives that companies provide to certain officials who are key to their operations.

Although retention bonuses of various kinds may be offered, limited only by the imagination of businessmen, typically four principle types are considered: the "referral" (for referring a friend), "sign on" (when signing the work contract ), "spot" (for specific achievements), and "retention" (for certain periods of time completed in the company).

In the Catalejo Laboral blog in Elfinancierocr.com, Paola Gutierrez discusses how companies can benefit from this practice, and precautions to be observed to avoid generating undesirable or bad results.

"Companies should be careful in the implementation and recognition of these bonuses, which may come with strings attached meaning that what looks like a good deal turns out to be a hard slog."

 close (x)

Receive more news about Compensation

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Where Supply Meets Demand

We are an U.S. Import Export Trading Firm based in Columbia Maryland since 1997: Specializing in import, export brokerage, export management, international business marketing consultation.
Consultant Services: An international trade specialist...

Stock Indexes

(Aug 28)
Dow Jones
-0.07%
S&P 500
0.06%
Nasdaq
0.32%

Commodities

(Aug 28)
Brent Crude Oil
50.86
Coffee "C"
124.05
Gold
1,133
Silver
14.55