In today’s labor market, retaining employees is almost as challenging as hiring new workers.
Companies don’t want to lose any employees to the competition. They especially don’t want to lose senior management, specialized employees, and high performers. To keep employees from jumping ship, companies can offer “golden handcuffs” — incentives that motivate employees to stay on with a company long-term.Money not the only answer
Companies can offer multiyear financial incentives, for example.They reward employees with annual bonuses, an ESOP (employee stock ownership plan), profit sharing, and other incentives. Employees don’t receive the benefits all at once but rather incrementally over time or
