Some of today’s top tech companies offer candidates some major signing bonuses. However, do these bonuses actually increase employee loyalty? Taking a look at bonuses and employee retention rates of major tech firms such as Facebook, LinkedIn and Amazon, a recent study by online career adviser Paysa sought to uncover how well these bonuses really work.
Turns out, while a signing bonus can be a great tool to recruit new employees, it might not be enough to keep them around for long. Facebook offered employees an average signing bonus of more than $45,000, however, the typical tenure of these new employees was just over two years. The case is similar for ecommerce giant Amazon, whose average signing bonus for employees is $41,340, yet these people only tended to stay at the company for barely two years.
So, what’s the sweet spot for offering a signing bonus that will make employees want to stick around? According to the research, employees had the longest average tenure at Microsoft — around three and a half years — and were getting an average signing bonus of $20,191.
To learn more, click through the slideshow to find out the 15 tech firms with the highest signing bonuses.