Hiring Bonus Law & Legal Definition
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 or to make up for compensation forfeited at the previous company. Hiring bonuses can be a very effective leverage point in attracting talent. Used wisely, it can sway a candidate who is on the fence for one reason or another.
In drafting legal agreement for a hiring bonus, it is important to define what exactly is included in the amount, such as whether it includes or is separate from relocation expenses, etc.
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