How common is the retention bonus? And how are they deciding on who gets t-t and who doesn't?
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And now they are giving retention bonus corporate wide but only to staff level. Low level supervisors were left out of consideration for the bonus.
BTW, if you leave the company with a package and then get hired back, they claw back part of the severance. Read your paperwork carefully, but also have a labor lawyer in your state review ALL severance paper before you sign off. It's cheap insurance.
I was given a retention bonus at the start of the merger. I asked my HR contact if I should be nervous when the end of the contract approached. No, she assured me I was fine. Contract expired on a Friday...and I was let go the following Monday, with her on the call. She was incredibly shady (and no longer with the company thankfully) so, shame on me for not seeing what a snake in the grass she was and to not suspect that she was lying. HR acts like they’re here for you but most of them are in CYA mode and working for leadership. Hang on if you can, the bonus and severance packages are good but it made many of us see what truly vile people we were working for. There are better companies out there.
The retention bonus is part of your departure package. I was with WellCare and had a close to 6 month runout. If I left a day before they would not pay it out. You'll also have restrictions on where you work (not quite a non-compete but just within most state laws) so jumping to another payer is barred for at least 6 months to a year. If you came from WellCare, you signed an agreement before you came on board. Just be aware of the strings attached.
And it's not based on production numbers. I'm not sure whether the authors are providing personal knowledge or presumptions. But as someone who got a CENTENE retention bonus, it was explained to me that they needed me to stay cuz it would be detrimental to the dept and the work if I suddenly left. It was an incentive to stay until my layoff date.
No, no, no, no, no. I just want to make this very clear so that a false sense of hope is not created if a retention bonus is offered. It does not mean that there is a stronger possibility that you'll stay. In my case, most of the people who got the retention bonus were still laid off.
It should be based on your production after the senior staff decides that is. They make it up as they go along. If you haven't been written up, you should get the bonus as long as your numbers are on track on the KPI.
So it could be a hint that the department may have layoffs and if You are being offered a retention bonus , you are safer
Not sure how common it is at Centene. It depends on whether or not your immediate exit would be a detriment to the company/department. When Marketing was laid off early in the year, there were a handful of people who got retention bonuses cuz it was imperative that those people stay to manage the marketing during the busiest time of year. It really just depends. But I think senior management of the dept helps to determine that.