Do’s and Don’ts of the Sign-On Bonus Award

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Description:

This session is all about opening the eyes of the hiring manager and breaking down the why and why-not of this recruiting strategy. It’s easy to give away money, but should you when you don’t need to?

We’ll discuss exactly what a sign-on bonus award should be, and what it shouldn’t be. We’ll look at how it works, and the thought processes behind-the-scenes that sets the stage for a decision; to offer or not to offer.

Attendees will be challenged by practical scenarios and real life circumstances to reflect on the practices of their own organizations – to consider how best to apply this recruiting tactic, or when to walk away. Because a hiring manager should consider whether the cost of a sign-on is ultimately going to be “worth it,” or a waste of money. And they should be armed with the knowledge of how to go about actually offering such an award; when to make the offer, how to, to whom and of course how much?

Attendees will come away with a thorough understanding of the award and how it is used. They will also come away with a better understanding of whether they should or shouldn’t.

It’s not unusual for an offer of employment, especially for a management job, to include a one-time cash award, called a “sign-on bonus.” While it may be common in certain organizations, is it a good idea? Is it an effective use of the company’s money. Or is it literally a thank you for a candidate agreeing to join your organization?

Recruiters will tell you that it’s a wonderful tactic to use, but then again, their own performance is measured by the number of candidates saying “yes,” so is their point of view objective?

Areas to be Covered:

What exactly is a sign-on bonus award?
How it’s used as a negotiating tool
Common scenarios where sign-ons are used
Why some feel that it’s a good recruiting tactic
Why some feel that it’s a bad idea
Practical advice for the “should I / shouldn’t I?” question
The unintended consequences

Who will Benefit:

Compensation Practitioners
HR Generalists
Recruiting and Hiring Staff
Compensation Department Managers
Human Resources Department
Leaders in Startup companies

Chuck Csizmar

Chuck Csizmar has a deep and broad experience in the design, implementation and communication of US and international compensation programs. Long recognized by WorldatWork as a Certified Compensation Professional (CCP) Chuck has been a practitioner working with US and International program design and development, global compensation review, acquisition and integration strategies, incentive and sales compensation, compensation training, expatriate programs, and performance management strategies. Chuck is Founder & Principal of CMC Compensation Group, specializing in analytic, project management and consultative services for US and International clients. He is also associated with several Human Resources consulting firms (US and International) as a subject matter expert for global compensation issues. Prior to establishing his own consulting firm Chuck was based in London on expatriate assignment as the Director of European Compensation & Benefits for Pitney Bowes. In this position he led the design and management of Total Reward programs in seventeen countries. He is a member of WorldatWork, the Society for Human Resource Management (SHRM) and the Florida HR People & Strategy Affiliate. He has been published as a subject matter expert in several national publications and provides original material for several professional association newsletters. He has developed and hosted numerous webinars and is a featured contributing author for several HR blogs.

This product is currently out of stock and unavailable.

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  • Login Information with Password to join the session, 24 hours prior to the webinar
  • Presentation Handout in .pdf format
  • Presentation from the Speaker
  • Feedback form
  • Certificate of Attendance
  • Recording access Information with Password to view the webinar, will be sent 24 hours after the completion of the Live webinar.
  • Presentation Handout in .pdf format
  • Certificate of Attendance