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. Could this tactic work for your company? Here are some things to consider before putting up big reward to recruit workers. Proceed with cautionThere are two ways to use a hiring bonus. An employer can announce a signing bonus when first advertising a job