Employers offer £10k golden hellos to lure staff
Recruits are being enticed by welcome bonuses
New recruits are being offered up to £10,000 by employers desperate to fill vacancies.
New research by jobs site Indeed has found the number of employers offering “golden hellos” has shot by 75% in three months.
The increase in signing on bonuses comes as the number of job vacancies in the UK broke through the one million mark for the first time in the three months to August.
Indeed’s data shows that care sector employers have been offering as much as £10,000 as a welcome bonus.
Competition to attract nurses is particularly intense, with some vacancies currently offering an instant £5,000 bonus to new recruits. Other employers are offering retention bonuses to staff who complete a certain period of service.
The use of signing incentives is rising fastest among those recruiting gas engineers, pharmacists, drivers and social carers.
Chemical engineering, a sector heavily reliant on trained gas engineers, had the highest share of postings offering a signing bonus in August, with some job ads offering incentives of up to £3,000.
These incentives are being offered on top of rapidly rising wages, with previous research by Indeed showing that high demand for workers in the construction, transport, manufacturing and food industries is leading wage growth in those sectors to far outstrip that in the rest of the UK economy.
Wages have risen fastest in the construction industry, soaring by 8.2% between February and August, while wages for driving jobs are up 7.6% and manufacturing roles by 5.2%.