Sign On Bonuses on the Rise

Sign On Bonuses on the Rise Over on the Compensation Force Blog, theres a post about the recent increase in sign on bonuses for recent college grads.  I think that this information suggests a growing trend towards more flexibility in negotiating sign-on bonuses across the board as companies continue to try to source creative incentives to attract top talent and keep employees motivated.Sign on bonuses, once considered a perk for senior executives, have trickled down into lower levels of management and now seem to be a reasonable expectation even for recent college graduates.When negotiating salary, it is important to recognize that base salary is just one aspect of total compensation that completes your total rewards package. Research from Mercer Human Resources Consulting indicates that employers continue to seek ways to attract and retain employees through variable pay incentives including monetary rewards for completing project milestones, spot rewards for exemplary effort on a one-time initiative, and cash incentives for employee referrals that turn into new hires.So what does all this mean for job seekers? It means that you may have more options than you may realize when negotiating your compensation package. Think creatively about how to get to that magic number. If an employer cant offer you what you would like in base salary, think outside the box to come to a consensus about what they can give you that would make the offer more enticing. This could take the form of a sign-on bonus, an earlier performance review, a financial reward somewhere down the line for a project well done, a different job title, a more generous expense account, a blackberry and a computer, or something else that is valuable to you.Focus on building the relationship with the employer and getting them to love you. Once this is achieved, discuss your compensation needs in terms of what is fair and reasonable. Be flexible, acknowledge the employers needs and work together to find a solution and you will quickly achieve your goals.