What is retention money?
Answers:
It depends on the situation, but across the world, this is money specifically held fund that would otherwise be compensated, until the other group perform some service or chore.
For example, surrounded by the construction business, it is adjectives that a series of payments is made over time, next to the caveat that the final 10% of the payments (for example) is withheld until the employment is complete. This agency, the contractor can earnings his costs during construction, but patently doesn't carry the entire amount until the livelihood is done.
I am a Human Resource Specialist for the federal system and contained by my agency, we hold "retention money" set aside for bonuses or raise for relatives who state they are departure the institution. We supply them raises/bonuses to stay beside us which surrounded by the long run save us money so we do not enjoy to spend more to train someone brand exotic to do their employment. Hope that answers your ask.
In what context? Try framing your question. It really help.
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Retention money is to lure the workforce from moving to other companies or to stop drainage of talant from the company.Today various companies are using the formula to retain the able personnel.
Need more information - If you are chitchat going on for insurance underwrite, retention is the percentage of customers kept year to year. Or, sometimes it is a fancy word for profit...
Retention Money is that fragment of Money which is withhold on a contract,which will remunerated after the performance/completion of a fixed term