The Key to Retaining Sales Talent

Or how about something more complex and long term, like a deferred compensation or salary continuation plan? You have many choices, from a straightforward deferred compensation/disability agreement to some form of retirement trust.

Remember, you don't necessarily have to fund the program with current dollars. You do have to be ready to meet your financial obligation, however, assuming your salesperson fulfills his or her part of the agreement. No matter how you structure it, if the salesperson leaves before the agreed time, he or she forfeits all or part of the plan benefits.

Another idea: What some employees really want is equity in the company (which has the additional bonus of motivating performance). In that case, reward them with market equity stock or allow them to buy it, perhaps at a discounted rate.

If you don't welcome the thought of a minority shareholder, you can even create a phantom stock program. In this case, the employee is not an actual owner. However, he or she does receive a payout if a dividend is declared, when they retire, or if the company is sold.

Of course, whatever plan you craft, you'll want to work it out with your attorney and accountant. But otherwise, when it comes to creating golden handcuffs, the possibilities are limited only by your imagination -- and by whatever strikes gold with your salesperson.