Retention Bonus Agreement Form
Description retention agreement template
How to fill out Retention Bonus Agreement Form?
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retention bonus letter template Form popularity
retainment letter Other Form Names
FAQ
The average retention bonus is between 10-15% of an employee's base income, but the amount can go up to 25%. Employers must consider why they are giving the retention bonus to determine the amount given.
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.
For example, if a project will take 12 months to be completely shut down, the employee retention bonus will be paid after 15 months to ensure that the employee stays for the remaining life of the project.
The lesson is this: In proposing a retention bonus or agreement to your employer, you should first emphasize (a) why it would be in the interests of the employer, and, then (b) what benefit will come about to the employer if it offers the retention bonus.
As for the amount, this varies; the average retention bonus is between 10-15% of an employee's base income.