Joining Bonus Letter with Retention Clause

Issue a letter to candidates offering a joining bonus but with certain clauses or preconditions.

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Joining Bonus Letter with Retention Clause-undefined

Most companies insist on a notice period which the employee has to serve once they resign to join another organisation. However, the hiring firm may not be able to wait a lengthy notice period and offers a bonus to the candidate to cover them for any monetary loss due to notice pay compensation payable to the serving company.

This letter template is available for download in Word format.

With this Joining Bonus Letter with Retention Clause you can:

  • Capture the precise date and location by which the candidate has to join the organisation
  • Be consistent in the context with which the employee can understand the terms
  • Ensure there is agreement with the employee on the payment being made

In just a few minutes you will be able to create a joining bonus letter with retention clause. This template covers vital information like:

  • Effective date and location by which the candidate has to join the organisation
  • Amount of bonus payable and mode of payment
  • Retention clauses and repayment in case of failure to abide by any of the preconditions
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Disclaimer
This template is meant to provide general guidelines and should be used as a reference. This is not a legal document. greytHR will not assume any legal liability that may arise from the use of this template.
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