Signing Bonuses

[Frank]

I struggled with this for a long time and decided not to offer a sign-on bonus but create a better workplace. Then I gave everyone here a $1000 thank you for staying bonus.

[JoeHenry]

Here is a widely published article on sign-on:

http://www.actautostaffing.com/em    on the left column to “Proper Use of Sign-on Bonus”

And here is an article on Retention:

http://www.actautostaffing.com/em  on the left column to “Retention Bonus”

Sorry I could not give you the direct links to the articles – Joe Henry

 

[Randy Lucyk]

We tried this last fall as an alternate idea to a signing bonus(should be image of postcard attached). We saturation mailed a 20-30 mile “irregular radius” around the shop, about 24k households. It did not have the response we hoped for. Some contacts but no actual interviews. I was a little surprised as we have a lot of small 3-4 man shops with techs that work for less then they deserve. We intentionally left wage info off the postcard, but it was available at the website, along with a lot of other information, that I believed a qualified tech would of value, if they took the time to read. I suspect most did not.

Hopefully, we received some residual benefit from all the households that do not have a qualified auto technician in their circle of family and friends.

[attachment file=”tech postcard.jpg”]

[Randy Lucyk]

did not take the image. Here is a link: https://1drv.ms/u/s!Ap7ibKYluQaehZdDtFxLS3_Dyec_fg?e=JZ63xz

[Site Administrator]

During Coaching my clients, we’ve talked about $1,000 and up to $2,500. But I’ve not had any clients hire through this resource as of yet. I put together an SOP for this program. I see it as being broader than just being a sign-on bonus. Here is how I’ve written it up.

Referral – Relocation Bonus Program Standard Operation Procedure Revised 12/12/2021

Other words that could be used to describe this program are; Relocation, Bonus, Signing Bonus, Sign-on Bonus, Retention Bonus, Employee Referral, Assistance, Incentive, Special Compensation, Consideration, Reward, etc. The point is, at times we may need to incentivize a person that is considering a career change to work with us and help them offset their personal costs. Financial assistance may just be the consideration that sways them in our favor. Recruiting in a highly competitive job market can be very difficult. We need to think outside the box and from their position. WIIFM – “What’s In It For Me”. To get talented people to look and hopefully act on our Job Postings, we may need to use a carrot that catches their interest. This Program Benefit is just another tool in your arsenal. There can be two parts to this program. A Referral Bonus Program and the Relocation Bonus Program.

The Referral Bonus Program is designed to attract and acquire help from within our industry and/or community to find and promote our company to those that may fit our specific job requests from those in their personal sphere of influence. Each of us knows people. The goal is to ask people we know to help us find and refer candidates that may be a fit. If one of their candidates is hired, we would like to compensate them for helping us in our endeavor. Some of these people may be our current or past employees, employees of competitors, family or friends, parts suppliers, tool suppliers, job placement counselors, etc. Please see the Referral Bonus Program document for more details on how it works.

The other part is the Relocation Bonus Program. This program can be set up to be very flexible. From how much we pay, to when we pay, to the terms and conditions that will apply. It can vary from individual to individual that is applying for the same position as well. If we are looking for a Master ASE Certified Technician/Diagnostician and a B Technician applies, not all the Job Qualifications of the posted ad are met. Our offers could change to meet that specific situation. That’s why Up to $X,XXX Relocation Bonus is used. Please see the Relocation Bonus Program document for more details on how it works.