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SIGN-ON BONUSES
Is this buyer's tool becoming the seller's expectation?
MAKING YOUR PROCESS USER FRIENDLY
Does your employment process recognize the applicant as customer number one?
THE TRUTHFUL RESUME
Is it a thing of the past?
CLIENT SERVICE AGREEMENTS
An effective way to manage your clients' expectations.
In the recently published Employment Management Association Staffing Metrics
survey report, the national average for sign-on bonuses granted to new hires
in 1997 was $5,092.
Our clients tell us that sign-on bonuses are given on an as-needed basis to
new hires, particularly in highly competitive situations. The EMA data shows
the range of these bonuses to be $250 to $150,000. Most companies admit that
the sign-on bonus amount is negotiable, depending on the needs of the candidate
and the availability of other, similarly qualified candidates.
Middle management and executive level positions are not the only ones receiving
sizeable sign-on incentives. In the highly competitive I.T., financial and
sales markets, bonuses between $5,000 and $25,000 are not uncommon.
The EMA survey was unable to ascertain the percentage of hires who actually
received sign-on bonuses. We estimate, however, that somewhere between 4 and
8 percent of experienced hires are receiving this kind of bonus.
The National Association of Colleges and Employers (NACE) has reported that
among recent graduates, $5,000 for high demand Bachelors degree holders and
$10,000 or more for MBA's is not out of the ordinary. Again, those who actually
receive these bonuses are a small percentage of the total graduate population
entering the market. However, this activity is creating an expectation, leading
more and more graduates to ask for a sign-on bonus before accepting an offer.
Gaining the competitive advantage in an applicant-controlled job market has
many of us comptemplating the redesign of our employment processes. If we
recognize that the applicant is truly customer number one, then why don't
our processes embrace the basic philosophy of superior customer service?
To satisfy the customer, we are told to: 1. gather information about the needs
and expectations of the customer, then exceed them; 2. provide the customer
information information without them having to ask for it; 3. respond in a
rapid, friendly, honest and accurate manner; and 4. assess the degree to which
we have met their needs both during and after the process.
Most companies are still wedded to the time-consuming gauntlets we call our
employment applications, screening and selection processes. Each process has
an owner who will fight tooth and nail to prevent anyone from changing it
lest s/he lose her/his job.
In today's very competitive job market, applicants can be quick to judge the
potential employers they meet based upon the treatment they receive during
the employment process. Too many hurdles, long periods of no contact, or an
attitude of my-time-is-more-important-than-yours often lead applicants to
take their skills and interests elsewhere.
First impressions make or break the deal with most job applicants. If they
see a company that has a professional, well-organized, open and honest interview
process, they will often presume that the entire organization behaves in the
same manner. On the other hand, if they encounter a company whose interviewers
are self-centered and insensitive, it creates an impression of a similar company
culture.
Processes don't win or lose the recruitment wars, people do. Do you have the
right people representing your company in the employment process? Are they
armed with the right tools and information to meet the needs of the applicants
you want to attract? If not, perhaps you should start with a little customer
service training.
Is it a thing of the past?
Throughout the 1990's, surveys have bemoaned the fact that somewhere between
one-third and one-half of all job applicants misrepresent, overstate or lie
about their credentials on their resumes. Employers have struggled with this
problem, often spending more time and money on reference checking and/or credential
verification services.
One deterrent to liars and cheats is the requirement to read and sign a legally
binding statement, usually on an employment application, that attests to the
accuracy of the information provided. The consequences of lieing is immediate
termination. Some people will withdraw themselves from consideration on that
basis alone.
Today, the internet, with all of its public information, is making it more
difficult for individuals to make false claims without being found out. As
recruiters become more adept at utilizing this resource, applicants are going
to be forced to present more honest resumes.
The recruitment function is under far greater scrutiny today than it was a
decade ago. Expectations are high. Quantitative measures are demanded. But
relatively few managers know what it is they want measured.
Some cutting edge employment managers have attempted to manage expectations
by creating a client service agreement with the managers who request their
services. By setting a service agreement in place at the outset of the assignment,
the client can give relevant and meaningful feedback at its conclusion.
A service agreement is not a standard document, but rather a unique record
of the significant and relevant factors agreed to by the client manager and
the recruiter.
These factors may include an agreement about the timelines during which prescreened
and qualified candidates will be presented, cost parameters for sourcing expenses
and relocation costs, and/or the number of candidates to be presented for
each vacancy.
When possible, it may prove to be advantageous to include a definition of
roles and responsibilities for both the recruiter and the client. This may
help recruiters avoid unwarranted blame for the failings of their clients.
Proof of performance is not solely a recruiter's responsibility.
If we jointly develop a plan with our clients, agree to a reasonable and workable
process, define our separate roles, and establish the measurables we both
desire from the relationship, then the outcomes, whether satisfactory or not,
will become self-evident at the conclusion of the assignment.