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> If employment is terminated for any reason or no reason at all by either employee or employer within the first year, incentives must be returned. If you want
by awb 5y ago
> If employment is terminated for any reason or no reason at all by either employee or employer within the first year, incentives must be returned.
If you want a guarantee, I'd recommend only paying once the guarantee is met. It's much easier than trying to get people to return money they've already assumed was theirs.
I've done tech recruiting for many startups and I typically charge 0 upfront, then 10% of base salary on the employee's start date and 10% after 6mo of full-time employment. In Hurry's case, maybe pay $7.5k on date of hire and $7.5k after 12 months.
I have plenty of folks in my network that would be a great fit and the $15k incentive (for my half) is respectable, but I wouldn't want to work under the terms as proposed unfortunately. A small tweak to the payment structure and this would be an excellent program that I'd jump at.
- tootie 5y agoYeah, places I've worked that offered referral bonuses typically deferred the bonus for 3-6 months to make sure the referred employee passes "probation" period.
- zachianblank 5y agoShoot me an email zach [at] hurry.team and maybe we can work something out.
- horsawlarway 5y agoFrankly - I just don't think paying extra to the new hire makes sense. Any way you put it - it's essentially just a one time yearly bonus for being referred. Which... is not something you really put any effort into. And why should that person get a free bonus compared to applicants who apply themselves? Further - as a new hire, I'm much more interested in making sure that long term compensation is appropriate, and that I have the ability to get decent raises or equity than I am in a 15k one time payout (that comes with a lot of strings).
- Ancapistani 5y ago> It's much easier than trying to get people to return money they've already assumed was theirs. Yeah, I read that as well and came to a similar conclusion. My next thought was that I seriously doubt they'd be _able_ to get that money back. What are they going to do, take the recruiting party to court over it? I suppose they could, but I also strongly suspect that between attorney fees and court costs, they'd not be getting much back. They'd be risking fairly significant negative publicity if they attempted it, too.
- austincheney 5y agoThere are legal reasons why that does not work. For example consider military separation. A candidate is under no obligation to disclose their military/veteran status. If that candidate then becomes mobilized the federal obligation trumps the commercial obligation. Employee leaves and not only are they separated from the work without any repercussion the employer is required to retain that employee in an unpaid status for at least 5 years unless a rare legal exclusion is met. There is also pregnancy. An employer cannot terminal an employee for taking time to give birth and taking some more time off immediately after. These are the two most obvious reasons though I am sure there are many more that they cannot enforce.