A Reason to Stay
Incentives provide the "golden handcuffs" that keep employees from getting away.
Even if your company isn't quite Fortune 500 status, you can find creative ways to offer the so-called "golden handcuffs" that secure valued workers.
"[It's] basically an arrangement between a company and an employee regarding some type of incentive," says Ray Silverstein, president of the PRO-President's Resource Organization, a Chicago firm that creates and facilitates advisory boards for business owners, CEOs and company presidents. "[The incentive] hits the employee's hot button. It makes them want to stay and punishes them if they leave."
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