Full access to Entrepreneur for $5
Subscribe

A Reason to Stay

Incentives provide the "golden handcuffs" that keep employees from getting away.

By
This story appears in the September 2000 issue of Entrepreneur. Subscribe »

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."

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!