Abstract

In many seasonal jobs, such as store clerks during the holiday shopping season, retention is about employers wanting as little employee turnover as possible during the small window they have each year to earn a big part of their profits. One way seasonal businesses might persuade workers to stay is with some sort of cash bonus paid for staying until the season's end or by paying a substantially higher wage at the very end. While the summer beach of Cape Cod may feel worlds away from the corporate office, the need to consider retention strategies for key employees is universal. Sometimes the retention horizon can be long term, or very, very long term. One of the many reasons employers like to give stock options to employees is their long-term retentive value. An example of a very, very long-term retention incentive is that provided by some forms of defined benefit pension programs.

Document Type

Article

Publication Date

11-2014

Publisher Statement

Contents © 2014. Reprinted with permission from WorldatWork. Content is licensed for use by purchaser only. No part of this article may be reproduced, excerpted or redistributed in any form without express written permission from WorldatWork.

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