- retention
- The number of units allocated to an underwriting syndicate member less the units held back by the syndicate manager for facilitating institutional sales and for allocation to nonmember firms . In the context of construction contracts, an amount retained from construction contract payments (5-15% of the contract price) to ensure the contractor completes the construction before the retention is returned. Bloomberg Financial Dictionary
* * *
retention re‧ten‧tion [rɪˈtenʆn] noun1. [uncountable] HUMAN RESOURCES when workers stay with a company rather than taking a job with another employer:• We have detected a definite improvement in employee retention.
• The assisted vacation scheme is an effective recruitment and retention tool in the competitive Silicon Valley job market.
2. [uncountable] when you keep something or continue to have it:• the retention of documents by the court
• the retention of strict disciplinary rules on the shop floor
3. [countable] ACCOUNTING FINANCE an amount of money that will not be paid to someone doing work such as building until the work has been completed in a satisfactory way:• In the event of the sub-contractor failing to complete the initial work or failing to rectify any defective workmanship, the retention would not be released.
* * *
retention UK US /rɪˈtenʃən/ noun► [U] HR, WORKPLACE the ability of a company to keep its employees and stop them from going to work somewhere else: »The study found that mentoring programs have a positive impact on teachers and their retention.
»Health benefits are an important recruitment and retention tool.
»Both these organizations have improved staff retention by paying great attention to office design.
»Employee retention is one of the major issues confronting business today.
► COMMERCE the ability of a company to keep its customers, rather than losing them to competitors: »Revenue growth, in turn, is achieved by pursuing growing market segments, by finding new customers, and by improving the retention of existing customers.
customer/client retention »Customer retention is the key to profitable growth.
»The unit has a client retention rate of 85%.
► [C] ACCOUNTING an amount of money that is owed to someone for doing work but that is not paid until the work has been completed in a satisfactory way: »If a withheld retention is disputed, the contractor is generally entitled to adjudication.
► [U] the continued use or possession of something or someone: »The city has traditionally favoured the retention of space for business and employment uses, but some residences are now being built.
»The company denied that there were any problems with its document retention procedures.
Financial and business terms. 2012.
