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Retention bonuses - some lessons from IT

IT PAY

Retention bonuses - some lessons from IT

Many employers instinctively shy away from any reward mechanism that seems simply to reward the decision not to resign. But a new report by Diaz Research suggests that retention bonuses can have a part to play, especially in IT where turbulence and reliance on skills can make normal reward strategies and tactics ineffective.

What you will find in this Diaz report

This 23-page white paper looks at how successful these retention bonuses were, and examines how they can be - and are being - used today, especially in an IT setting.

What are retention bonuses and why are they used?

  • some definitions
  • why do employers use them?

    •  

Year 2000 retention bonuses

  • the context
  • how common were they?
  • a composite retention bonus scheme
  • actual Year 2000 schemes

    •  

The impact of retention bonuses

  • evidence from year 2000 schemes
  • evidence from other types of scheme
  • impact on morale

    •  

The dynamics of the retention bonus

  • the early impact on employee choice
  • the "pay offer equivalent"
  • implied impact on staff turnover
  • the concept of an individual account
  • conclusions on likely effectiveness
  • the cost of the retention scheme

    •  

Considerations in the use and design of retention schemes

  • relevant situations
  • high-level design
  • scope
  • design

    •  


Want to know more?

Title: Retention Bonuses: some lessons for IT, Diaz Research.

Availability: Contact Diaz Research, Regent's Place, 338 Euston Road, London NW1 3BT, tel: 020 7544 8692, fax 0798 0706 378.

Diaz Research offers consulting and best practice research on IT and telecoms people and organisation issues. It numbers many FTSE 100 companies among its customer base. To find out more visit www.diazresearch.com.