Retention program means that your company values you and wants to keep you.
Normally, your boss or his/her superior will have an one on one meeting with you, to understand your thoughts, plan, and what the other company offers you. In other words, they want to understand what you are looking for, and how much they need to pay to retain you.
Based on the offers your have at hand, they may offer:
1) promotion
2) cash offer, a certain percentage of your salary will be paid in the next 2 or 3 years;
3) stocks
4) or all of them, depending 1) your value they perceive you; 2) your offer letter, 3) your negotiation skill.
Decison to stay or leave will be more personal, depending on what you are looking for.
Good Luck!
