What is retention agreement in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: retention agreement

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management An agreement in the commission contract that is a prerequisite for calculating retention based on specific retention rules. Retention agreements in the commission contract represent individually defined retention rules. Individualized retention agreements let you overrule the default values of the rule attributes for retention.

Smart SAP Assistant

• Key Concepts: 
  A retention agreement is a type of contract used in SAP ICM Incentive and Commission Management (ICM) to ensure that a salesperson or other employee remains with the company for a certain period of time. The agreement outlines the terms of the employee's employment, such as salary, bonuses, and other benefits. It also outlines the consequences if the employee leaves before the agreed-upon period of time.
  
  How to use it: 
  Retention agreements are used to ensure that employees remain with the company for a certain period of time. The agreement outlines the terms of the employee's employment, such as salary, bonuses, and other benefits. It also outlines the consequences if the employee leaves before the agreed-upon period of time. The agreement should be signed by both parties and kept on file for future reference.
  
  Tips & Tricks: 
  When creating a retention agreement, it is important to ensure that all terms are clearly outlined and understood by both parties. It is also important to ensure that all relevant information is included in the agreement, such as salary, bonuses, and other benefits. Additionally, it is important to include a clause outlining the consequences if the employee leaves before the agreed-upon period of time.
  
  Related Information: 
  Retention agreements are often used in conjunction with other types of contracts, such as non-compete agreements or confidentiality agreements. Additionally, retention agreements can be used in conjunction with incentive plans or commission plans to ensure that employees remain with the company for a certain period of time.