A Reason to Stay
Incentives provide the "golden handcuffs" that keep employees from getting away.
By Ellen Paris •
Opinions expressed by Entrepreneur contributors are their own.
Even if your company isn't quite Fortune 500 status, you canfind creative ways to offer the so-called "goldenhandcuffs" that secure valued workers.
"[It's] basically an arrangement between a company andan employee regarding some type of incentive," says RaySilverstein, president of the PRO-President's Resource Organization, aChicago firm that creates and facilitates advisory boards forbusiness owners, CEOs and company presidents. "[The incentive]hits the employee's hot button. It makes them want to stay andpunishes them if they leave."
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