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