SIB Fixed Cost Reduction, which helps businesses find savings in their regular monthly expenditures, offers employees a fat check for $50,000 after they reach their five-year work anniversary.
“The thought process was, people don’t stick around at jobs for a long time anymore,” said Dan Schneider, chief executive officer of the Charleston, South Carolina-based company. “A lot of times, people leave for a little more pay. So an award like this shows you can still grow within your company, and earn more money, without having to leave.”
Most companies might hold on to staffers for 24 months, Schneider said. By tempting employees with a gigantic check, his own firm now boasts average retention of four years.
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