Sign-up Bonus

Human Resources » Compensation & Benefits

	Message From: zaal	Total Posts: 11	Join Date: 19/12/2008
Rank: Executive	Post Date: 19/12/2008 03:40:58	Points: 55	Location: India

Dear Friends,

I am working as Sr. Executive - HR, in an IT company. We are in the process of standardizing our Hiring module.

We want to initiate sign-up bonus and I looking for some inputs to role out this. How it works and what formalities to be done. Please share your experience and forward if any one had process guide for sig-up bonus.

Thanks in advance.

Regards,

zaal

	Message From: mohanty_bm	Total Posts: 21	Join Date: 19/12/2008
Rank: Executive	Post Date: 19/12/2008 03:43:50	Points: 105	Location: India

Sign up bonus has various objectives – what’s yours? The process / amounts would be governed by the desired objective.

Some times it’s just a pure joining bonus for the potential employee or it may be an amount to cover the possible loss of pay – notice pay, bonus etc.

It may also be a deferred amount, spread over say 3-4 payouts over the 1st year, in which case it may also double up as a retention initiative at least for year 1, by which time the candidate and the organization have both had the opportunity to test each other out.

mohanty