Signing bonuses are a popular tool for attracting top talent. This article explores how to handle signing bonuses in Onfolk.
How it works in Onfolk
In Onfolk, new employees are not added to payroll until:
They have completed their onboarding process
Their start date falls within the current pay period
For example, an employee starting in July would not appear in June's payroll. In most cases having employees wait for their first month's payroll and including the sign-on bonus then works. If you need to pay the bonus earlier follow the steps below:
Workaround for Early Bonus Payments
Set a earlier start date in Onfolk
Set the employee's salary to £0 for that first month
Have the employee complete their onboarding process in Onfolk
Add the signing bonus to payroll via a gross adjustment
Process the bonus payment in the current pay run