Existing Employees - Retention bonus vs Performance Bonus

August 31, 2022
by a searcher from Clemson University in Columbia, SC, USA
Hi All,
Does anyone have experience offering existing employees a yearly retention bonus after acquisition (think yearly bonus for 3 years for staying with a company)?
This is for key employees in the current business. I have read multiple mixed reviews on retention bonus and am leaning towards a performance bonus that orients the team towards growing the business instead of just "staying onboard".
Thank you,
from UNSW Australia in Sydney NSW, Australia
from University of Texas at Austin in Houston, TX, USA
I think a performance bonus is a great idea to more closely align goals (even better than retention).