Existing Employees - Retention bonus vs Performance Bonus

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by a searcher from Clemson University
in Columbia, SC, USA

3yrs ago

Existing Employees - Retention bonus vs Performance Bonus

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,

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reply by a searcher 3yrs ago
from Lewis University in Denver, CO, USA

That is a great approach. I have seen both, and in different cultures. The performance bonuses mean something if the culture shows it pays out regularly but if you ask peers/team members about payouts and the goals are too much of a stretch it does communicate a poor message. Just a thought.

reply by a searcher 3yrs ago
from UNSW Australia in Sydney NSW, Australia

I would think a retention bonus would be effective only within a one year period. Within that time frame you want to hold on to institutional knowledge and get yourself up to speed. Beyond that you would be more focused on organisational performance and would want a more comprehensive performance incentive system.