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Time now for a quiz.
What do Amazon, Disney World, and Dickie Jo’s Burgers in Eugene, Ore., all have in common?
a. They employ low wage workers.
b. They’re in desperate need of workers this summer.
c. They’re offering $1,000 sign-on bonuses.
d. All of the above.
If you answered d, you’re right. (Sorry, we’re not paying cash for correct answers!)
With a record 9.3 million jobs open in the U.S. as of April, and a workforce in no hurry to get back to work, a growing number of employers are looking to hiring bonuses to fill their ranks. Long a tradition on Wall Street, sign-on bonuses are rare in low-wage work such as fast food, warehousing and food delivery. Now, as the economy has picked up, hiring bonuses are everywhere.
On the jobs site Indeed.com, postings advertising some kind of hiring incentive have more than doubled since last July, according to economist AnnElizabeth Konkel of the Indeed Hiring Lab. Searches for terms such as “hiring bonus” have also doubled, indicating jobseekers are intrigued.
Before you leap, here are some things to know about these cash payouts.
A hiring bonus is unlikely to change your life
Hiring bonuses can be a useful tool for employers because they’re a one-time cost, Konkel says. Companies can also stop offering the incentive as soon as they’re fully staffed.
Read More: Why Hiring Bonuses May Not Be More Than A Quick Fix For Low Wage Workers :