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Replace Comments to the Retention Agreement

Replace Comments to the Retention Agreement and eSign it in minutes

Aug 6th, 2022

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

Can you get out of a retention agreement?

Releases or waivers of claims have no place in retention agreements. The essential requirements are (i) you agree to stay, and if you do (ii) they pay you a specified sum of money.

Can you negotiate a retention package?

Yes, employees can negotiate their retention bonus. In addition to negotiating the payoff amount of the retention bonus, employees should discuss the term of the agreement to ensure they are comfortable with the date of the payment and the expectation of what the employee will do during the retention bonus period.

Should you accept a retention bonus?

In conclusion, retention bonus agreements are a great way to keep key employees on board during difficult times. They can also be used to incentivize employees to stay with a company during a period of transition or change.

How do you handle retention discussion?

For retention discussions to work, they need to be authentic, backed by a genuine interest to get to the root-cause and look for long-term solutions. It needs honest communication. Retention discussion is not a date where we are simply saying things the other person wants to hear, even when we dont mean it.

How do you respond to a retention bonus offer?

Thank you very much for your offer. It has certainly given me a lot to consider as I decide where to take my career. I would be happy to accept if we could increase the current offer by X.

How do I decline a retention bonus?

Negotiating for a shorter retention period Thank you very much for the generous bonus offer. I believe the amount is appropriate, though I would like to discuss the retention period. I would be more comfortable with an 18-month retention period instead of a 24-month period. Is this something youd be willing to shift?

How do you negotiate a retention agreement?

Use the list below for help with your salary negotiations and to understand your stay bonus plan. Request a copy of the contract to review. Pay close attention to the language used. Take your time. Consider declining. Request a meeting. Propose adjusting the time period. Contemplate asking for a raise instead.

Is it good to accept retention?

Company Loyalty If an employee accepts a retention bonus and signs a contract to remain with the company, that employee is unlikely to leave before the end of the contract. This can help a company establish long-term loyalty.

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