What Is A Retention Plan?
A Retention Plan is a way of incentivising and motivating current and future employees to remain within a company. There are various ways of laying out this Plan, including share options, salary rewards/bonuses.
How Retention Plans Benefit Your Business
We all want to take pride in what we do and have job satisfaction. Implementing a Retention Plan in your business motivates your employees to do their best work and invest their important loyalty and emotional investment into building your company. Another bonus to Retention Plans is cutting out the considerable time and effort it takes hiring and training new staff into your business.