Yeah, we called it a sign on and retention bonus; we wrote out an acknowledgement as part of the hire package to be transparent about % values and their payout timeline. We did 50% up front, 25% at 90 days, 25% at 180
I’d give it all upfront however if they leave before 6 months or even one year it needs to be paid back (6 months pay back 1/2). Incentive to sign & start in this market is important!
I’m an agency recruiter, typically I do this for hard to fill roles. The way we do our pay outs, we make sure that it’s well past the guarantee period we have with the client so we don’t have to credit or refund a fee. Typically we do a full payout, but if you want to break it down I believe the 25/25/50 would be the best way to do it. The first 25 would be as a sign on, the next 25 after you’ve had time to evaluate the employee, and the 50 once they’ve fully integrated into their role. I hope that helps!
Coach
Yeah, we called it a sign on and retention bonus; we wrote out an acknowledgement as part of the hire package to be transparent about % values and their payout timeline. We did 50% up front, 25% at 90 days, 25% at 180
So helpful. Thank you so much!
Coach
For $10k maybe flip the script, start at 25-25-50
I like that! Thanks!
I’d give it all upfront however if they leave before 6 months or even one year it needs to be paid back (6 months pay back 1/2). Incentive to sign & start in this market is important!
Good point. Thank you for the suggestion
I’m an agency recruiter, typically I do this for hard to fill roles. The way we do our pay outs, we make sure that it’s well past the guarantee period we have with the client so we don’t have to credit or refund a fee. Typically we do a full payout, but if you want to break it down I believe the 25/25/50 would be the best way to do it. The first 25 would be as a sign on, the next 25 after you’ve had time to evaluate the employee, and the 50 once they’ve fully integrated into their role. I hope that helps!
Very welcome!