In this article, we'll provide you with a comprehensive understanding of when and how signing bonuses are integrated into our employment contracts.
When Signing Bonuses Make Sense:
We recognize that signing bonuses can be a valuable tool in specific situations. These bonuses are designed to serve genuine purposes that benefit both the employee and the company. Some scenarios where we support the inclusion of signing bonuses include:
Relocation Expenses: When an employee needs to relocate for a new role, a signing bonus can help cover the associated costs.
Skill Development: Signing bonuses can be allocated to facilitate the skill development required for an employee's new position.
Salary Adjustments: If an employee's previous role had a significantly different salary structure, a signing bonus can address any necessary adjustments.
Exclusion of Bonuses for Prior Work: We do not endorse the use of joining bonuses to compensate client employees for work performed before the official start date of their employment contract. For more information, refer to our article on backdating contracts.
Incorporating a Signing Bonus:
If you are considering including a signing bonus in an employment contract based on the scenarios mentioned above, here's the process you'll need to follow:
Get in touch with your designated Customer Success Manager. Clearly communicate the reasons behind your request for a signing bonus.
Our team will thoroughly assess your situation and provide guidance. They will determine whether a signing bonus aligns with your specific needs and our internal policies.
Upon approval, our team will proceed to integrate the signing bonus into the employment agreement.
If you have any questions or require further assistance, do not hesitate to contact us directly at help@omnipresent.com.