Sign-On Bonuses of $3,000! … Have You Thought About Retention?

Target Warehouse Bonus

October 14, 2021

In the latest battleground in the war for talent, some large enterprises are now offering $3,000 sign-on bonuses. HR executives have said to us:

Years ago, we use to have people waiting in lines for a job at one of our factories. Now we can’t even find enough workers to keep up with demand!

So strong is demand for workers, those who hold the purse strings are willing to loosen them to keep up with demand. While there’s no doubt that hiring is critical in the current climate, it pays (literally) to not forget about the other side of the equation: retention.

 

4.3 million workers voluntarily quit their jobs in August, the Labor Department said Tuesday. That was up from 4 million in July, and is by far the most in the two decades the government has been keeping track.

Chart of Number of Quits

At Qlicket, we provide a managed service solution that aggregates feedback from your workforce daily and helps you pinpoint areas of concern and opportunity, so you can create the type of environment your employees never want to leave.

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