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A Reason to StayIncentives provide the "golden handcuffs" that keep employees from getting away.
ByEllen 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 thePRO-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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