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Companies offer retention bonuses to key staff, in an effort to encourage loyalty, especially in downward economies or durations of organizational adjustments. Referral bonuses incentivize employees to refer prospects with robust work ethics, sharp expertise, and optimistic attitudes. Referral bonuses are introduced to staff who recommend candidates for open positions, which finally results in the hiring of mentioned candidates.
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- It provides more luxury perks than its lower-annual-fee counterpart, the Enterprise Rewards.
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- This implies that staff are required to report their bonuses as a half of their taxable earnings when they file their taxes.
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