retaining

Beginner 👥 Human Resources

Definition

The act of keeping employees from fleeing to competitors, usually achieved through a combination of competitive salaries, stock options, free snacks, and the vague promise of 'culture.' When used in legal contexts, it refers to paying someone a retainer so they'll actually return your calls. Both definitions involve spending money to prevent abandonment.

Example Usage

The company's retaining strategy consisted of pizza parties and threatening to exercise their non-compete clauses.

Source: Common business terminology

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