We are beginning to receive calls from current clients that have not utilized hiring incentives to attract new employees. For several years, our health care clients have offered sign-on bonuses for nurses and other technical positions where competition for talent has been and still is fierce. We are seeing new business sectors enter the realm of hiring incentives, inclusive of manufacturing, fast food, retail, assisted living facilities, non-profits and professional trade organizations like HVAC companies.
You can look at your local McDonalds’ restaurant marque and see the following recruitment enticement, “Up to $500 sign-on bonus and up to $15.00 per hour”. Some McDonalds will pay you $50 to interview with them. If you have management skills and experience, the sign-on bonus increases up to $3,000.
Some of our municipal clients are offering or considering sign-on bonuses to increase the number of police officer applicants. We had a discussion with a potential rural production company client about having to compete for trade labor applicants because a local HVAC business was offering a $2,000 sign-on bonus plus trade school tuition reimbursement.
It looks like the current sign-on bonus norm for health care nurse is now becoming a new offering for other business sector organizations. Will hiring incentives continue after post COVID – 19 stimulus unemployment pay incentives dry up or will they be short-lived once supply and demand for talent levels off and the unemployment rate returns to pre-COVID levels?
I’m hearing $200, now $300, and now $500! Going, Going and Gone for $500!!! You’re Hired!