How a Signing Bonus Can Take Your Recruitment Efforts to the Next Level

by Evil HR Lady on October 3, 2019

When you’re struggling to lure in talented candidates who will bring your business into the future, a signing bonus can be an effective way of getting their attention. Now, some might say that’s overkill. But a sign-on bonus isn’t just for executives — it can come into play during any level of talent acquisition. Here’s what you need to know before you put your next offer on the table.

How Does a Signing Bonus Work?

The majority of companies — 74 percent, to be exact — give bonuses to at least some of their new hires, but amounts vary widely depending on the field. For an executive in the finance industry, you can expect six-figure signing bonuses, while for registered nurses, most bonuses will stay under $10,000. Some companies also give out smaller bonuses. Even a $500 check can make a difference.

To keep reading, click here: How a Signing Bonus Can Take Your Recruitment Efforts to the Next Level

{ 1 comment… read it below or add one }

Mr Ghost of Hirings-Past October 4, 2019 at 6:41 am

I took a signing bonus in lieu of relocation once (because the company had no relocation policy), and it was a pleasant positive. Yet after starting the job and moving my family I kept the check in my wallet for a couple of months… because I was still interviewing and negotiating with a prestigious university in Nashville.

I was initially smiling when I read the eventual Nashville offer letter. Smiling segued to… stupefaction.

Although the Nashville job had a higher salary, I found the cost of living was comparably higher — negating that nominal advantage. The “relo” package had a maximum amount that _nominally_ matched my signing bonus check amount. Nominally: relo was strictly only reimbursement for IRS-approved items: at that time (2005) only actual city-to-city moving expenses — no temporary housing expenses, no house hunting assistance.

Why, I asked my prospective employer, only reimbursement and why only IRS-approved items?

Ah, he told me, they’d tried signing bonuses but been burned by very promising alien candidates collecting a signing check from them… and other employers serial short-order… then decamping for the home subcontinent copious cash in hand… beyond the reach of enraged employers.

I declined the prestigious offer, deposited my check, and purchased a house in Cincinnati. We’re still here. Now I only think of Nashville when I drive through it to visit the sandy beaches of Alabama.

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