Easily Replace Tick from the Retention Agreement

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How to Replace Tick from the Retention Agreement

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Im Jana Walker co-director of the National wraparound initiative and Im speaking you today from our offices here at Portland State University in Oregon todays webinar is on staff recruitment and retention or replacement and we have an extremely knowledgeable and experienced panel of presenters who will be introduced in just a minute for that Id like to go over a few announcements before we begin todays discussion first of all this webinars brought to you in partnership with the technical assistance Network for childrens behavioral health so our thanks goes out to them as well during the presentation we invite you to send your questions to the to the panelists using the chat feature thats down on the right hand side of your screen if these are easy to answer one of us may chat that response to you but most of the questions will be held in to the end when the presenters will have a chance to respond also its important to note that this webinar will be recorded and it will be post

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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.

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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.

How do I ask for a higher retention bonus?

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.

How much is a typical retention bonus?

Typical retention bonuses can be anywhere from 10% to 25% of the base salary, depending on the industry. Your employer might also choose to pay a flat rate, such as $5000. A retention bonus is commonly paid as a lump sum amount, but some employers may break it down to ensure their benefits in case youre dismissed.

How do I reject a retention bonus?

Negotiating for a pay raise instead Thank you for the bonus offer. I want to be frank about my circumstances. I have been approached by recruiters at other companies and am considering offers. I would be happy to stay on with the company in exchange to a pay raise to X in lieu of the bonus offer.

What does agree to retention mean?

In essence, a retention agreement asks the employee to commit to stay for a certain amount of time, in exchange for compensation, e.g. cash and/or shares. It may also include agreeing to an extended notice period.

How do you respond to a retention bonus email?

Thank you so much for my performance bonus. I really appreciate your generosity and having my hard work acknowledged. I feel so fortunate to work for a company that encourages its employees to keep meeting new goals and gives them the support and tools to do so.

Are retention bonuses legally binding?

Depending on the value that they offer to the employer, employees may also be able to negotiate the terms of the Retention Agreement prior to execution. A Retention Agreement is a legal and binding document.

What should I ask for in a retention offer?

Annual Company Retention Bonus. Satisfactory performance evaluations. Absenteeism criteria. No written warnings. Weekly productivity quotas.

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