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A bonus is paid to an employee as an incentive to perform well throughout the year. Many companies are also willing to pay retention bonuses to keep employees on board. A retention bonus is financialcompensationpaid to employees who have remained with their organization for a specific length of time.
Additional benefits such as retention bonuses are extra incentives to keep them happy and performing well. Benefits such as health insurance, vision, and dental coverage, paid time off, and even a retirement plan can be essential. The pay and benefits alone can help lock your best employees in and incentivize them to stick around.
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