Retaining business and professional service employees

Research output: Chapter in Book/Report/Conference proceedingEntry for encyclopedia/dictionary


Business and professional service (BPS) employees compete on expertise, reputations, and client contact networks. Retaining them is critical as clients will follow individual professionals when they resign and obtain employment in rival firms or establish their own firms. There are positive and negative retention strategies. Positive strategies include salaries, bonus payments, flexible working and benefits including access to leisure facilities. Negatives include restrictive covenants in employment contracts, for example gardening leave, as well as golden handcuffs. The latter are based on staggering bonus payments throughout the year. The most important retention strategy is based on providing a supportive working environment and challenging work.
Original languageEnglish
Title of host publicationElgar Encyclopedia of Services
EditorsFaïz Gallouj, Camal Gallouj, Marie-Christine Monnoyer, Luis Rubalcaba, Markus Scheuer
Place of PublicationCheltenham
PublisherEdward Elgar Publishing Ltd.
Number of pages1
ISBN (Electronic)9781802202595
ISBN (Print)9781802202588
Publication statusPublished - 12 Jan 2023

Publication series

NameElgar Encyclopedias in the Social Sciences
PublisherEdward Elgar


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