On October 7, 2022, the executive career advancement website IvyExec published an article I wrote on “Executive Retention Packages – Terms and Negotiations.”
This new article is designed for CEOs, CMOs, CSOs, CTOs and other C-suite and senior executives in technology and life sciences, and in other areas of the economy. This article might also be of benefit to many directors and mid-level executives. In each case, this article is directed to executives being recruited and who have now or anticipate soon receiving, an attractive offer to move on, yet who, at the same time, are also critical to their current company. It is in that circumstance this article suggests how your current company might provide a significant retention package for you to stay or to at least work with them to delay the full impact of your complete departure.
This frequently occurs when the company is “in play”. However, besides this change of control situation, my article discusses a number of other circumstances where executive retention negotiations occur, including where:
The company is nearing a critical milestone, necessary for a funding round,
The company is planning its IPO and needs an executive lockup,
The executive has close relationships with key accounts and the company fears a significant loss of business,
The executive has close relationships with key management and performers in the company and fears a significant attrition,
The executive as an inventor, innovator and technologist has a critical role in product creation, maintenance or development, or
The executive has achieved a level of notoriety such that his or her loss could have a negative impact on perception of the company within the customer or business community where the company operates.
My article also discusses how to raise the issue of executive retention, how to negotiate and frame the executive retention package as a mutually beneficial “win-win” for the executive and the company, and finally the key terms to seek in your executive retention agreement.
To see my full IvyExec career advancement website article, go to LINK: https://www.ivyexec.com/career-advice/2022/executive-retention-packages-terms-and-negotiations/
Or on my website at https://www.executiveemploymentattorney.com/executive-retention-packages-terms-and-negotiations/
IvyExec hosts articles and webinars from experts in the career, leadership, and business spaces who wish to share their knowledge with our audience. In April 2021, I was invited to write for IvyExec since it seeks original content on the topics of career development, leadership, and business strategy as it applies to senior-level and C-Suite professionals. IvyExec blog posts and webinars are shared with its community of more than 2 million members on its website, in its newsletter, and on its social media channels. https://www.ivyexec.com/career-advice/write-for-us/
IvyExec claims a “Community of 2.5M+ Leaders”.
See also – https://www.ivyexec.com/
It is my hope that this article will be helpful to CEOs, CMOs, CSOs, CTOs and other C-suite and senior executives in technology and life sciences, who are being recruited and have now, or anticipate soon receiving, an attractive offer to move on, yet are also critical to their current company, where the current company might provide a significant retention package for the executive to stay. If you or any colleague of yours has a need in this area, please do reach out to me at rob@attorneyadelson.com.
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