s/o Severance

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Yes, a retention bonus is the correct term!

Would bosses be put off by a nanny requesting this in the contract?

Yes. You'd need to perform first. You may get a gift on your last day of the job, it may include some cash, but you will not be inserting a clause dictating your gift.
Good luck.

OP here. I would not recommend it unless you had an end date set. Let's say you've been a nanny for three years. As your employer gives you an end date, all children will be in school, at that point would you be put off by nanny asking for a retention bonus added to the contract. It would simply be an incentive for nanny to jeopardize her income to stay available to the family she works for. Seems logical, win-win.

That's an odd way to put it. The nanny is guaranteed to receive the income she is entitled to by working until the contract ends. She is not jeopardizing her income unless she doesn't work for it.

Did you forget the nanny's "at will" status?

Nannies are usually let go whenever it's convenient for the parents, NOT according to the agreement.

Nannies have every right (and ethical obligation) to consider their own financial situation, and proceed accordingly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Yes, a retention bonus is the correct term!

Would bosses be put off by a nanny requesting this in the contract?

Yes. You'd need to perform first. You may get a gift on your last day of the job, it may include some cash, but you will not be inserting a clause dictating your gift.
Good luck.

OP here. I would not recommend it unless you had an end date set. Let's say you've been a nanny for three years. As your employer gives you an end date, all children will be in school, at that point would you be put off by nanny asking for a retention bonus added to the contract. It would simply be an incentive for nanny to jeopardize her income to stay available to the family she works for. Seems logical, win-win.

That's an odd way to put it. The nanny is guaranteed to receive the income she is entitled to by working until the contract ends. She is not jeopardizing her income unless she doesn't work for it.

It may take time to find a family to work for. She would be jeopardizing the her income. It is not a guarantee that she will be able to have a job lined up for the following week. This concept is one I am sure you can grasp, whether you agree or not.

[Anonymous]

I wouldn't have a retention bonus in a contract unless the job had a set end date going in. It doesn't make sense for an infant, but if you're not planning on employing a nanny once they start school or something, then it might make sense to offer one.

[Anonymous]

I think severance is a better way to protect a nanny's income than a retention bonus and can be written into a standard contract.

[Anonymous]

Anonymous wrote:I wouldn't have a retention bonus in a contract unless the job had a set end date going in. It doesn't make sense for an infant, but if you're not planning on employing a nanny once they start school or something, then it might make sense to offer one.

+1. It needs a set end date. Retention bonuses are most common during a transition, such as when a company is acquired by another and wants to retain valuable employees to assure continuity, wrap up certain operations or to train their successors.

My nannies have fortunately always left under happy circumstances (marriage, new career, birth of first child) and were able to give me ample notice. In turn, they all received generous parting gifts. When the relationship is great and mutually respectful, there is no need for severance or retention bonuses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Yes, a retention bonus is the correct term!

Would bosses be put off by a nanny requesting this in the contract?

Yes. You'd need to perform first. You may get a gift on your last day of the job, it may include some cash, but you will not be inserting a clause dictating your gift.
Good luck.

Smart nannies don't perform for people like you.

Let me guess, "smart nannies" just hang out on the internet and fantasy land DCUM..
Love your incessant posting and time stamps.