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Social and Behavioral Sciences Commons™
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Economics Faculty Publications
Bonuses; Compensation; Seasonal employment; Employees; Retention; Long term
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Full-Text Articles in Social and Behavioral Sciences
Retention Pay, Kevin F. Hallock
Retention Pay, Kevin F. Hallock
Economics Faculty Publications
In many seasonal jobs, such as store clerks during the holiday shopping season, retention is about employers wanting as little employee turnover as possible during the small window they have each year to earn a big part of their profits. One way seasonal businesses might persuade workers to stay is with some sort of cash bonus paid for staying until the season's end or by paying a substantially higher wage at the very end. While the summer beach of Cape Cod may feel worlds away from the corporate office, the need to consider retention strategies for key employees is universal. …