Difference between revisions of "Sign - On Bonus Policy"
(Created page with "Process Owner Senior Executive of Human Resources Purpose To enable hiring managers to provide additional incentive in the form of sign-on bonuses to candidates for employme...") |
|||
| Line 1: | Line 1: | ||
| − | Process Owner | + | ==Process Owner== |
| − | + | ||
| − | + | Senior Executive of Human Resources | |
| − | + | ||
| − | + | ==Definitions== | |
| − | + | ||
| − | Policy | + | Sign-On Bonus - A lump sum payment or series of payments provided to a new hire at the time of hire (or in periodic payments thereafter) to provide additional incentive to accept employment with GovC. |
| − | + | ||
| + | ==Purpose== | ||
| + | |||
| + | To enable hiring managers to provide additional incentive in the form of sign-on bonuses to candidates for employment into certain hard-to-fill and/or critical positions with GovC. | ||
| + | |||
| + | ==Policy== | ||
| + | |||
| + | A Sign-On Bonus is intended for exceptional use only with candidates for employment into hard-to-fill and/or critical positions. Proposals for Sign-On Bonuses are subject to the review and approval in accordance with the following requirements (no exceptions): | ||
| + | |||
Sign-on Bonus Amount Approval Signatures Needed | Sign-on Bonus Amount Approval Signatures Needed | ||
| + | |||
Up to $5,000 Business Unit Vice President and Business Operations Manager | Up to $5,000 Business Unit Vice President and Business Operations Manager | ||
| + | |||
$5,001 to $15,000 Business Unit President and Business Operations Manager | $5,001 to $15,000 Business Unit President and Business Operations Manager | ||
Every new hire who is slated to receive a Sign-On Bonus is required to sign a Sign-On Bonus Agreement (Form B) evidencing their legal obligation to repay the Sign-On Bonus to GovC if their employment is terminated, either voluntarily or involuntarily (excluding lay-off), within the twelve (12) months of their start date. | Every new hire who is slated to receive a Sign-On Bonus is required to sign a Sign-On Bonus Agreement (Form B) evidencing their legal obligation to repay the Sign-On Bonus to GovC if their employment is terminated, either voluntarily or involuntarily (excluding lay-off), within the twelve (12) months of their start date. | ||
| − | Responsibilities | + | |
| − | + | ==Responsibilities== | |
| + | |||
| + | Hiring Managers should prepare and submit all Sign-On Bonus Requests to their Human Resources for review. | ||
| + | |||
Business Operations Managers should determine the availability of funding for each Sign-On Bonus Request made in their organization. | Business Operations Managers should determine the availability of funding for each Sign-On Bonus Request made in their organization. | ||
| + | |||
Business Unit Human Resources should seek the appropriate approval signatures set forth in the table above. After approvals are obtained, Human Resources will send the employment offer letter and Sign-On Bonus Agreement to the job candidate. | Business Unit Human Resources should seek the appropriate approval signatures set forth in the table above. After approvals are obtained, Human Resources will send the employment offer letter and Sign-On Bonus Agreement to the job candidate. | ||
| + | |||
The job candidate must sign both the offer letter and Sign-On Bonus Agreement and return both to Human Resources. | The job candidate must sign both the offer letter and Sign-On Bonus Agreement and return both to Human Resources. | ||
| − | After the candidate becomes an employee by starting employment with GovC, Business Unit Human Resources should initiate the Sign-On Bonus payment | + | |
| − | + | After the candidate becomes an employee by starting employment with GovC, Business Unit Human Resources should initiate the Sign-On Bonus payment(s). | |
| − | + | ||
| − | + | ||
| − | + | ||
| − | + | ||
| − | + | ||
| − | + | ||
| − | + | ||
| − | + | ||
| − | + | ||
[[Category: Policies and Procedures]] | [[Category: Policies and Procedures]] | ||
[[Category: Policies and Procedures - Human Resources]] | [[Category: Policies and Procedures - Human Resources]] | ||
Revision as of 16:54, 30 December 2015
Contents |
Process Owner
Senior Executive of Human Resources
Definitions
Sign-On Bonus - A lump sum payment or series of payments provided to a new hire at the time of hire (or in periodic payments thereafter) to provide additional incentive to accept employment with GovC.
Purpose
To enable hiring managers to provide additional incentive in the form of sign-on bonuses to candidates for employment into certain hard-to-fill and/or critical positions with GovC.
Policy
A Sign-On Bonus is intended for exceptional use only with candidates for employment into hard-to-fill and/or critical positions. Proposals for Sign-On Bonuses are subject to the review and approval in accordance with the following requirements (no exceptions):
Sign-on Bonus Amount Approval Signatures Needed
Up to $5,000 Business Unit Vice President and Business Operations Manager
$5,001 to $15,000 Business Unit President and Business Operations Manager
Every new hire who is slated to receive a Sign-On Bonus is required to sign a Sign-On Bonus Agreement (Form B) evidencing their legal obligation to repay the Sign-On Bonus to GovC if their employment is terminated, either voluntarily or involuntarily (excluding lay-off), within the twelve (12) months of their start date.
Responsibilities
Hiring Managers should prepare and submit all Sign-On Bonus Requests to their Human Resources for review.
Business Operations Managers should determine the availability of funding for each Sign-On Bonus Request made in their organization.
Business Unit Human Resources should seek the appropriate approval signatures set forth in the table above. After approvals are obtained, Human Resources will send the employment offer letter and Sign-On Bonus Agreement to the job candidate.
The job candidate must sign both the offer letter and Sign-On Bonus Agreement and return both to Human Resources.
After the candidate becomes an employee by starting employment with GovC, Business Unit Human Resources should initiate the Sign-On Bonus payment(s).
