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Sign on Bonuses

Julie

| 0 Posts

30 Oct, 2019 14:53

Hi, 

In recruitment I am wondering how many of you would use a sign on bonus as a means to attract a potential candidate. I am trying to gauge if this is a used a lot in the UK as it is not something we would often use were I am based in the Isle of Man. 

Many thanks 

Julie 

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  • Keith

    | 0 Posts

    30 Oct, 2019 15:01

    I have only ever done this twice in my career and both times in relation to a senior member of staff who was walking away from significant £££ in an LTIP.
  • Julie

    | 0 Posts

    30 Oct, 2019 15:02

    In reply to Keith:

    thanks Keith
  • Lesley

    | 0 Posts

    30 Oct, 2019 19:00

    This is fairly common in the graduate recruitment market, often caveated that it should be paid back if the programme or compulsory training is not completed.

    It is often billed as money to help the graduate relocate, pay off any short-term debt and adjust to post-university life. I actually got one myself back when I was a grad and it was spent on the purchase of a car that was needed for my new commute!
  • Keith

    | 0 Posts

    30 Oct, 2019 19:15

    In reply to Lesley:

    Must admit I have never done it in years and years of graduate recruitment. But there you go!
  • Julie

    | 0 Posts

    30 Oct, 2019 21:25

    In reply to Lesley:

    thanks Lesley, that's really helpful
  • Jessica

    | 0 Posts

    31 Oct, 2019 12:30

    Julie, my answer is the same as Keith, used them a number of times and always with strong commercial reason unique to candidate and situation..the money has to make sense.
  • Delbert

    | 0 Posts

    8 Nov, 2019 06:53

    In reply to Jessica:

    It is often billed as money to help the graduate relocate, pay off any short-term debt and adjust to post-university life. I actually got one myself back when I was a grad and it was spent on the purchase of a car that was needed for my new commute! MyFedLoan

  • Fiona

    | 0 Posts

    8 Nov, 2019 12:39

    I'm interested in this as well - I've just been informed that our referral scheme 'introduce a friend' also includes a clause where the new employee gets an equivalent bonus. I can see this creating all sorts of issues - disatisfaction among employees who were not introduced by a friend, for a start, and I'm puzzled about exactly what this is supposed to be encouraging. We are talking a few hundred pounds. Perhaps we should extend the sign on bonus to all new staff in those roles?