Josh,
I've heard that companies are using sign-on bonuses to attract new talent, particularly for filling very in-demand positions. One sign-on bonus structure that I think provides a reasonable "compromise" between employee and employer is the two-part bonus, where there the first part is paid out immediately after the employee starts and the second part is paid out a year or two later. As I see it, this sign-on bonus structure incentivizes joining the company
and staying with the company.
Collin
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Collin Russell
Research & Development Engineer
Los Alamos National Laboratory
Los Alamos NM
(505) 664-0949
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Original Message:
Sent: 09-07-2021 13:57
From: Josh Hale
Subject: talent shortage
With the labor market the way it is, I've seen many posts online and heard from several of my clients that they are instituting sign on bonuses for new hires and referral bonuses for current employees who recommend new hires.
Questions:
1) Is your company doing this or have you noticed a similar uptick in these types of hiring and recruiting strategies as well?
2) If you have experience with similar bonuses, how have you seen them structured? How long has the new hire needed to stay to be bonus eligible? How much have you seen offered? Have you seen other things besides cash used as incentives (ie gift cards or gifts)? Other comments?
3) How effective have these tools been and have you seen them be more or less useful for certain types or levels of openings?
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Josh Hale
Managing Recruiter
International Search Partners
(619) 828-1040
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