Annual Incentive to Quit

Annual incentive to quit

People around the world find employment with organizations of all shapes and sizes. While the characteristics of these businesses may vary greatly from one another, individuals sign up for employment for a similar purpose – earning an income. Like the degree of variation in company qualities, enjoyment of one’s job might vary from one person to the next based on individual perspective and interests. One particular business seeks to identify employees that are less than enthusiastic about their position at the company and is providing them with an incentive to move on.

Amazon CEO Jeff Bezos recently released an annual letters to shareholders describing its new Pay to Quit program. The program seeks to provide employees with a financial incentive to pursue alternative avenues of employment for those that wish to do so. In an employee’s first year of employment with the company, a $2,000 incentive is offered. The amount increases by $1,000 each year thereafter up to a maximum amount of $5,000.

In the shareholder letter, Bezos explains the reason behind the offer. “The goal is to encourage folks to take a moment and think about what they really want. In the long-run, an employee staying somewhere they don’t want to be isn’t healthy for the employee or the company,” said Bezos.

While the incentive might appeal to someone already looking for an alternative to employment at the company, its lure might not be as lucrative to those with an eye toward long-term employment in an increasingly migratory job market.

If you were a new employee at a company, would the financial incentive to quit appeal to you?

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4 Comments

  1. grannybunny

     /  June 2, 2014

    To me, a financial incentive to resign would only resonate with someone unhappy with their job or who had a desperate short-term financial need.

  2. Jonn

     /  June 4, 2014

    It would be a nice bonus if I planned to quit anyway, but as good jobs get harder to find, I think the cash incentive might not be as enticing. Give me a grand for every year I work though and it could be tempting after a couple decades as a nice retirement bonus.

  3. grannybunny

     /  June 4, 2014

    I agree with Jonn. A retention incentive would be much more motivating than a resignation one.

  4. Jonn

     /  June 4, 2014

    A loyalty bonus would be awesome! Companies that show thanks to their employees are often ones with happier employees and better customer service.

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