Recruitment and retention have been top of mind for employers since the pandemic disrupted the workplace. It turns out that one of the best incentives may be cold, hard cash.
Nearly nine in 10 employees would take an extra cash bonus in exchange for time commitment at their company, the Effective Compensation Study Report from Keep Financial found. In addition, three-fourths of respondents who receive stock options or other equity said they would rather receive all or a portion of that equity as cash today in exchange for a time commitment.
"The survey shows us that cash is king for employees and comes right as many companies seek to revamp compensation and retention strategies," said Rob Frohwein, cofounder and CEO of Keep Financial. "However, for employers to be effective in meeting employees' needs, they must also ensure that the corporate object of retention is met."
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