WellCare budgets $35M for employee retention

Hoping to hold on to its employees despite its current troubles, WellCare Health Plans has set aside $35 million to provide incentives to retain staff members. Tampa, FL-based WellCare, which provides managed care services for Medicare and Medicaid, recently had its headquarters raided by state and federal law enforcement agents, something which certainly couldn't have been great for morale. Now, WellCare has established a program under which employees can get a bonus amounting to 20 to 50 percent of their base salary in effect on December 31, 2008. The company has also set up a separate severance program providing four to 12 months of pay for top-level employees who lose their jobs between now and December 31, 2009.

To find out more about WellCare's retention strategy:
- read this Tampa Bay Business Journal article