What is The Definition of Retention Bonus?
A retention bonus is a special salary or premium in addition to the employee's meager salary that is offered as an incentive to keep a key business employee in the workplace, such as during the merger or acquisition, or during the production phase. This payment, which is intended to prevent the employee from leaving the job, is usually a one-time payment.
- In addition to the regular salary of an employee, a retention bonus is also a one-time payment or award that is offered as an incentive to keep a key employee in the workplace.
- When a company goes through a disruptive phase of organizational transformation, it offers financial incentives to executives and key employees to agree to stay with the company until stability is restored.
- Key employees may also receive a retention bonus if their employer suspects they want to turn to a competitor to retain them.
Literal Meanings of Retention Bonus
Meanings of Retention:
Continuity, use, or possession of something.
Sentences of Retention
Maintain direct control of the central government
Meanings of Bonus:
The amount that is added to the salary depends on the time of year, mainly in return for good performance.
Sentences of Bonus
Great Christmas bonus
Synonyms of Bonus
honorarium, prize, tip, percentage, dividend, gift, reward, gratuity, present, extra payment, handout, premium, commission