What is meant by bonus?

Answer 1

Retention bonus means additional monetary encouragement paid to continue services, staffing and membership.

There are many forms of a retention bonus offered this is a tool of retaining a businesses efforts to generate revenues and ensure it maintenance to do so.

Staffing or employment bonuses are things like after 90 days of service one receives a bonus payment or five year service rewards to continue to maintain staffing levels in a competitive job market for business and/or prevent employees leaving taking viable skills to competitors.

Membership and or Service retention bonuses are more geared in the retention of consumers that generate direct income for businesses such as renewals on cell phone service they may offer upgrades or loyalty rewards to continue business with the consumer.

Retention bonus are offered in many forms discounts, perks, gift cards, checks, rewards and etc. The goal is to protect the ongoing ability of a business or service provider for making profit or continue to make assets through its labor pool. It assures no disruption that may hamper on-going activities.