Category : Retention

Assessing & Negotiating Your Retention Bonus Offer

Changing jobs every few years is not frowned upon like it used to be. As a result, businesses are finding ways to incentivize their key employees to stay with their company. One of the most effective methods is to offer top performers a retention bonus. A retention is simply a payment made to the employee […]

Executive Employment Agreements – Part 1

If you are a key executive employee, your employment contract sets forth the obligations and responsibilities between you and your employer. In other words, what each party agree to do (or not do) for each other. This contract also sets forth your executive compensation package, including benefits, equity and any severance payments. Other provisions commonly […]

What Should You Seek in Your Retention Contract?

If you are a CEO, CFO or some other key executive interested in negotiating a retention agreement with your employer, it is important to know what terms are the most important. The first place to start is to review your original employment agreement. When you initially took the job, you were most likely not in […]

When are Retention Agreements Used?

In the business world today, it is common for executives to change jobs frequently. Whether it is due to a better opportunity, or as a result of their company being bought or merged, your business should be prepared on how to deal with this type of transition. Most companies ask their executives to sign a […]

Tips for Increasing Employee Retention -Part 2

Hopefully you have read our previous blog titled “Tips for Increasing Employee Retention – Part 1” discussing the costs related to employee turnover and was to prevent it. This blog will continue the discussion of ways an employer can retain his/her employees. Many supervisors make the mistake of thinking that an improvement in the turnover […]

Tips for Increasing Employee Retention -Part 1

Employee turnover is a concern for all types of businesses because it is a significant expense. The problem, however, is that most companies do not to action to find ways to retain their employees. If a business owner is interested fixing a high employee turnover rate, he/she must start with collecting data to identify the […]

Employees! Look for these Provisions in Retention Contracts

If you are considering signing a retention contract with your employer, it is important to confer with an experienced attorney to ensure that you are fully protected. Below are examples of common provisions that do not benefit employees, but are often found in retention agreements: Termination “For Cause” Provision Employers often do not define what […]

How a Retention Contract Impacts You Financially

If you are a key employee and your company is undergoing a merger and/or acquisition, you may be asked to sign a retention agreement. In fact, signing this contract may be a condition of your continued employment during the merger process and with the new entity. However, before you agree to a retention contract, it […]

Retention Bonuses….Should You Ask for One?

Why do employers offer retention contracts to certain employees? The simple answer is because the employer needs to guarantee the employee’s continued services. The bigger question is when do employers typically offer retention bonuses? Below are different circumstances where employers typically offer retention contracts: Mergers or Takeovers If two companies in the same industry are […]

Sale of a Business & Employee Retention

When a business is sold, the best-case scenario is that all employees at the purchased company transfer to the purchasing entity. Unfortunately, this typically is not what happens. In fact, it is common for the employees of the company being purchased to be left in limbo as to what will happen to them until the […]