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English definition of “retention bonus”

retention bonus

noun [C]
 
 
HR, MANAGEMENT
an extra payment that is given to an employee as a way of persuading them not to leave the company, especially at a time when the company is experiencing big changes: McCormick is set to get a $500,000 retention bonus at the end of his five-year contract. They probably offered retention bonuses - both money and new stock - to keep executives through the reorganization.
(Definition of retention bonus from the Cambridge Business English Dictionary © Cambridge University Press)
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