payton_pritchard

RSM

Retention Package? (I know there's already a bun ch of similar posts)

I know similar questions get asked all the time -- I've read some of them but figured I post one of my own in case someone had some good advice

I have a 1on1 this week (today actually) where I'm going to be presented with a "retention package" to essentially show me that I'm valued and all that shit and make sure I don't leave the company.

I have no idea what to expect out of this -- could be equity, bonus, base raise, commission change, etc. and also no idea if this is a negotiation or if I'm expected to just be grateful, say thank you, and shut up.

I'm having a tough time prepping for this given I really don't know what to expect. Anyone been in a similar situation or have general tips/advice?

💰 Compensation

12 comments

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Pachacuti

Politicker

They call me Daddy, Sales Daddy

So this Retention Package is coming out of nowhere? Could it be the standard 2022 Comp Package? Or were you already given your Comp Plan?
Never say no to free money, but if you're not happy here this could be your chance to obtain a bonus or perk to make things better. Of course, if you're not happy there probably no amount of money would make you happy.
I would suggest saying "thank you" and then continuing with your day.

payton_pritchard

Executive

RSM

Good question, I guess I left out some important context. I'm probably slightly underpaid relative to the market and have some standing offers from other companies for more money.

During our end of year performance reviews I brought up some issues, mostly around quota expectations and a few other things that have been frustrating. This year I've been the number 1 or 2 performer on the team consistently. We're small but growing quickly and can't afford much turnover especially with half the team having been hired in the last few months.

Our VP and CEO reached out to me and let me know that I should be expecting a "retention package" soon but haven't gotten any context on what it is yet.

Sunbunny31

Politicker

Sr Sales Executive 🐰

Happy for you that your company is valuing you and taking your comments into consideration.

My only recommendation is to listen to the offer, and request some time to consider before you agree to it, even if it sounds really super on the face of it.

CuriousFox

WR Officer

🦊

Anytime you say probably means you are underpaid. 💯

payton_pritchard

Executive

RSM

Wise words

Jewcan_Sam81

Politicker

Account Executive

Just be careful they don't get you to sign your life away into some kind of contract that'll force you to stay in order to get the money/get some kind of metrics to get that money. Unless it's professional athlete money, don't get paid like a professional athelete

RealPatrickBateman

Politicker

🔪Amateur Butcher🔪

You either come into the process KNOWING what you require to accept the position.

OR

You swallow, smile and bend over.

payton_pritchard

Executive

RSM

I'm already in the position though. I have some leverage and am a little unsure of how to approach it from here and what to expect

RealPatrickBateman

Politicker

🔪Amateur Butcher🔪

Well, first of all this is a little strange because I know Payton Pritchard personally 😂

Second, if you think you have leverage, than plan it out and take a shot. It may not go the way you want, but either way you get an answer to your question 🤷🏻‍♂️

payton_pritchard

Executive

RSM

While I was making the account I was watching a game where Pritchard scored like 10 straight, so it seemed like the right username choice lol.

Appreciate the advice!

IAMTHEDOG

Valued Contributor

Director of Sales

Congrats! There can still be a negotiation in my opinion. Keep it light, though.

Justatitle

Big Shot

Account Executive

If you have competing offers then I'd want the current employer to go above the new offer. Also if they can't afford to lose you, you hold all of the power.

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payton_pritchard

Retention Package? (I know there's already a bun ch of similar posts)

12 comments

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