COMP NEWS – Companies across many different industries are implementing sign-on bonuses to attract new employees. These bonuses have been in response to key positions being empty in many companies.
Amid the pandemic, many industries are dealing with staffing shortages and companies are willing to pay top dollar to get candidates to accept a position. From healthcare to transportation to food service, hiring or sign-on bonuses are becoming more common.
The transportation and trucking industry has been particularly affected by staffing shortages. U.S. Express is offering up to $30,000 in sign-on bonuses for their drivers.
The truck driving industry is now facing a growing and unprecedented driver shortage. The American Trucking Associations estimated late last year that this shortage would hit a historic high of just over 80,000 drivers. With so many drivers in demand, Enright said people might come across one of their online postings. One listing in Portland touted a $30,000 sign-on bonus for a team of two.
Another industry that is seeing staffing shortages is public transportation. The company TriMet is offering sign-on bonuses of around $2,500 to new bus drivers.
Eye-catching offers also seem to be driving up applications for TriMet bus drivers. The agency announced a $2,500 signing bonus in November. Since then, officials said they’ve gotten 240 applications. Looking back a month-and-a-half earlier, TriMet received 136 applications in the same period of time.
According to Berrin Erdogan, Portland State professor of management, similar situations are being seen across all industries.
“In some industries and in some companies, it is harder to find people,” Erdogan said. “Particularly retail, restaurants, hospitality, nurses and teachers. Those have been the ones that were visible to me.”
Overall, companies across all industries are implementing sign-on bonuses and many other forms of bonuses to attract and retain their workforce.
To read more about the transportation industry’s hiring bonuses, click here.
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