New York, May 19 (PTI) With the employment outlook improving in the US, employers are focusing their compensation programmes on hiring and retaining top talent, according to a survey by Buck Consultants.
According to a study titled 'Reviving and Inspiring the Workforce: 2011 Compensation Trends Survey', employers are using hiring bonuses to attract talent and retention bonuses to keep them.
A hiring bonus is an extra amount of money provided at time of hire as an incentive to an applicant to accept a job offer.
The survey found that nearly two-thirds of organisations are using or planning to use hiring bonuses and 41 per cent use or expect to implement retention bonuses.
For those employees participating in a bonus programme, the study found that eight out of every 10 employees can expect to receive a payout in 2011.