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

Duration:
90 Minutes
Access:
6 months
Webinar Id:
700433
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Recorded Version

$195. One Participant

Recorded Version: Unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)

"The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program. It means that this program has met the HR Certification Institute's criteria to be pre-approved for recertification credit."

"This program, has been approved for 1 (General ) recertification credit hours toward PHR, SPHR and GPHR recertification through the HR Certification Institute. Please be sure to note the program ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org."

Overview: When you REALLY want a candidate to accept your offer of employment it is often an easy choice to decide on tossing a cash bonus onto the negotiating table - just to sweeten the deal. But is that strategy a good idea? Would the candidate have accepted without the bonus being dangled in front of them? Have you solved the problem in front of you, only to potentially create more with other employees?

Not every company believes in or allows the practice of sign-on bonus awards, and even when used the practice is often confused, inconsistent and lacking proper authorization procedures. This session will provide practical advice as to the purpose of a sign-on bonus award, when it is a useful recruiting tactic to employ, and when you would be better served to save your money. We'll review common scenarios, pitfalls to avoid, a checklist of points to consider and advise you when it's both a good and a bad idea. The participant will come away knowledgeable of the what, the why, the how and the "should we?" elements to the topic. So that the next time the question of sign-on bonuses arises during the recruiting process, you will know the background, the pros and cons and the likely aftermath of the decision. Your eyes will be open.

Why should you attend:Adding a one-time payment for the selected candidate costs monies that you might not have needed to pay out. Left to their own devices recruiting practitioners would tend to overuse this "EASY" button to make their jobs easy. Whether the bonus award was necessary to gain candidate acceptance or not. If you are either in the recruiting process, manage those who are or have a budget that would be impacted by the use of sign-on bonus awards, this session will help you understand how to effectively use this recruiting tool - without incurring undue costs or facing possible collateral damage to other employees.

Areas Covered in the Session:
  • What exactly is a sign-on bonus award?
  • How it's use is integral to the hiring process
  • How it can be used as a negotiating tool
  • Common scenarios for offering an award
  • When an offer is a good idea
  • When an offer is not such a good idea
  • Points to consider before making an offer
  • Avoiding problems today and tomorrow
  • Proper use of an effective tool

Who Will Benefit:
  • Compensation Practitioners
  • HR Generalists
  • Recruiting and Hiring Staff
Instructor:

Chuck Csizmar is 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 & development, global compensation review, acquisition and integration strategies, incentive & 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.


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