New WorldatWork research finds that bonus program usage and consideration are increasing.
In a study of 957 United States-based organizations of various sizes across multiple industries, WorldatWork found that 38% of employers use all four types of bonuses: sign-on, referral, spot and retention.
Only 7% of respondents said their company does not use any of the four types of bonus programs.
Sign-on bonuses are the most prevalent of the four types; more than 50% of respondents said their organization offers an additional sign-on bonus amount for in-demand or hard-to-fill roles, with another 21% considering sign-on bonuses.
More than half (52%) also report increasing the number of sign-on bonuses awarded in the past 12 months.
“As the war for talent rages on, HR and compensation professionals are reaching into their bonus arsenals to help attract and retain talent,” said Alicia Scott-Wears, director of total rewards content at WorldatWork, “most notably sign-on bonuses to initially win over their talent targets.