What You Need to Know About Offering a Hiring Bonus

In the not-too-distant past, hiring bonuses — also called signing bonuses or sign-on bonuses — were only mentioned in reference to elite professional athletes or corporate CEOs. As the labor market has tightened, however, businesses ranging from fast-food restaurants to manufacturing companies and others have started using this type of bonus to attract entry-level workers and lower tier managers. In fact, I recently read about a wastewater company in a particularly tight job market that offered a $5,000 hiring bonus to entice people to try working in what is often viewed as a not-so-glamorous industry. Could this tactic work for your company? Here