Sales veteran Richard Milligan argues sign-on bonuses fail to improve retention and waste money. He draws on his career, CEO statements, and public data to show they don't work. Better ways exist to attract and keep talent.
I don't believe in sign-on bonuses. So having spent my entire career in sales, I am very aware that some industries, not only are sign-on bonuses used as incentives to get people across that finish line, but they can be massive amounts of money. Sign-on bonuses don't work in terms of the percentages. They don't work long-term to retain employees. These CEOs said that sign-on bonuses don't work. And so I know it from my own experience and public data is being used. So I can stand here with a lot of confidence in this space and say, I don't believe in sign-on bonuses because I can give you a long list of other reasons why you should be here.
