Hi all, I want to ask about the payment release terms for the joining bonus, as most IT companies are offering joining bonuses to attract talent. This is to encourage candidates to join the company promptly. In return, what efforts does the company make to ensure that prospective employees will not leave the company?
From India, Delhi
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13From India, Delhi
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Hi, You can apply some retention strategy like the same will be paid on successful completion of 6 months /one year /two year etc
From India, Madras
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From India, Madras
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The only way you can retain people is to address the reasons why they might want to leave or why they wanted to join in the first place. For instance, by offering competitive salaries, providing challenging projects, and fostering a good working environment.
This also means that your incentives must align with industry standards, and salary increments should be sufficient to match what they could earn elsewhere.
Consider including a clause
Consider including a clause that mandates repayment of the joining bonus if the employee leaves before a specified period, such as working for less than a year.
From India, Mumbai
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This also means that your incentives must align with industry standards, and salary increments should be sufficient to match what they could earn elsewhere.
Consider including a clause
Consider including a clause that mandates repayment of the joining bonus if the employee leaves before a specified period, such as working for less than a year.
From India, Mumbai
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Amendment to Payment of Bonus Act 2015.jpg
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THE PAYMENT OF BONUS ACT.doc