"It's a powerful thing for them to turn down the cash."
You've heard about companies switching to a four-day workweek in order to keep their staff, but would you believe that one firm is hanging onto its employees by offering them a bonus if they quit?
Trainual, a software company that specialized in onboarding programs, is doing just that by offering a $5,000 bonus to new employees who decide the job isn't for them within the first two weeks.
The company's CEO, Chris Ronzio, recently came out with the incentive and he says it's actually helped him find and keep the best talent at his firm, reported Fast Company.
"It's important to know really quickly if we've found the right people," Ronzio told Fast Company.
"If someone knows a week or two in that this is not their long-term place or position, it gets more expensive to replace them as they take on more work and responsibility," Ronzio said. "By offering new hires $5,000, we give them the opportunity to opt-out after two weeks if they have any sense of doubt."
Ronzio enacted the incentive back in May of 2020 and was offering new employees $2,500 to quit after two weeks if they didn't see themselves as a good fit in the company, reported Business Insider.
Since then, he's upped the amount to $5,000 and he says he hasn't had a single person take the offer to date.
He says he chose a two-week timeframe because losing an employee after that point would cost the business a lot more in terms of its investment.
As for those who decide to stay after the two weeks?
"It's a powerful thing for them to turn down the cash, opt-in, and commit," Ronzio said. "And it sets the stage for a great working relationship."
Ronzio actually borrowed the idea from Zappos, which offered its new employees $1,000 to quit a week into their role.
Given the success Zappos saw with the incentive, Ronzio decided to implement it too, and so far, it's worked out pretty great for Trainual.