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Retaining Bonus

Khaos_Mage
Posts: 23,214
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8/7/2015 2:25:50 AM
Posted: 1 year ago
So, the company I work for essentially had an exclusivity contract with a client, who has informed us (three months ago) they will not renew the five year contract, thus, our company is scrambling to find new clients.

However, due to obvious reasons, and perhaps others as well, my company announced yesterday that anyone who signs a non-binding contract saying they will work until the end of the year will get a $750 bonus, and obviously, since they are staying, if they find work, they will still have a job. The bonus works as $250 up front, and $500 at the end of the year (so it is like a week of pay severance). Due to the nature of the work, some people may be let go before the end of the year, and those people, if they signed the contract, will still get the bonus.

It seems like a fairly fair offer, but it does seem not worth the risk (i.e. not taking a job before the year ends). And, something they did not say, I assume that if you do not sign the contract, those people will be the first to be laid off (again, due to the nature of the business).

I want to sign it, but even though it is non-binding and I am still at-will, one of the "by signing this document you state that" clauses is that I intend to stay until the end of the year. I do not. Not only was I looking for work before this, I am currently seeking employment elsewhere, and as such, I have no intention of staying that long, unless I can't find work.

So, I have a moral dilemma. Am I being too honest?
What would you do?
My work here is, finally, done.
Khaos_Mage
Posts: 23,214
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8/7/2015 2:27:25 AM
Posted: 1 year ago
On a side note, I find it funny that there is this woman who has an "eat the rich" mentality, and she went off about how they can afford to give a better offer, and, even though she is intending on staying until the last day, she will not sign it.

I think this is incredibly stupid and greedy. What do you think?
My work here is, finally, done.
ford_prefect
Posts: 4,137
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8/7/2015 3:02:02 AM
Posted: 1 year ago
At 8/7/2015 2:27:25 AM, Khaos_Mage wrote:
On a side note, I find it funny that there is this woman who has an "eat the rich" mentality, and she went off about how they can afford to give a better offer, and, even though she is intending on staying until the last day, she will not sign it.

I think this is incredibly stupid and greedy. What do you think?

Why would she not sign it, if she intends to stay? Is it out of principle that she believes they should offer more, so she's not taking it to make a statement? I agree that's dumb.

Now if I were you, I'd sign it as long as there is no way they can sue you for leaving before the year is up. The employer has most of the power in this situation, as usual. So I don't think it's wrong for you to get a little bit of extra money at their expense.
Vox_Veritas
Posts: 7,065
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8/7/2015 9:29:01 PM
Posted: 1 year ago
At 8/7/2015 2:25:50 AM, Khaos_Mage wrote:
So, the company I work for essentially had an exclusivity contract with a client, who has informed us (three months ago) they will not renew the five year contract, thus, our company is scrambling to find new clients.

However, due to obvious reasons, and perhaps others as well, my company announced yesterday that anyone who signs a non-binding contract saying they will work until the end of the year will get a $750 bonus, and obviously, since they are staying, if they find work, they will still have a job. The bonus works as $250 up front, and $500 at the end of the year (so it is like a week of pay severance). Due to the nature of the work, some people may be let go before the end of the year, and those people, if they signed the contract, will still get the bonus.

It seems like a fairly fair offer, but it does seem not worth the risk (i.e. not taking a job before the year ends). And, something they did not say, I assume that if you do not sign the contract, those people will be the first to be laid off (again, due to the nature of the business).

I want to sign it, but even though it is non-binding and I am still at-will, one of the "by signing this document you state that" clauses is that I intend to stay until the end of the year. I do not. Not only was I looking for work before this, I am currently seeking employment elsewhere, and as such, I have no intention of staying that long, unless I can't find work.

So, I have a moral dilemma. Am I being too honest?
What would you do?

Inform your employer of this. Whatever happens next happens. Either that or suck it up and stay with the company for the rest of the year.
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Khaos_Mage
Posts: 23,214
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8/8/2015 1:50:34 PM
Posted: 1 year ago
At 8/7/2015 9:29:01 PM, Vox_Veritas wrote:

Inform your employer of this. Whatever happens next happens. Either that or suck it up and stay with the company for the rest of the year.

So, you think it's a good idea to say to my employer, "I am likely going to leave, just so you know"? And, "whatever happens happens" is a poor and selfish (albeit common among teens) attitude to have, when you consider I have a wife who depends on me for income and losing this job prematurely, is likely to cause financial ruin, as I work 65+ hours between two jobs for a reason, and it's not my health.
My work here is, finally, done.
YYW
Posts: 36,242
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8/10/2015 2:02:57 AM
Posted: 1 year ago
At 8/7/2015 2:25:50 AM, Khaos_Mage wrote:
So, the company I work for essentially had an exclusivity contract with a client, who has informed us (three months ago) they will not renew the five year contract, thus, our company is scrambling to find new clients.

However, due to obvious reasons, and perhaps others as well, my company announced yesterday that anyone who signs a non-binding contract saying they will work until the end of the year will get a $750 bonus, and obviously, since they are staying, if they find work, they will still have a job. The bonus works as $250 up front, and $500 at the end of the year (so it is like a week of pay severance). Due to the nature of the work, some people may be let go before the end of the year, and those people, if they signed the contract, will still get the bonus.

It seems like a fairly fair offer, but it does seem not worth the risk (i.e. not taking a job before the year ends). And, something they did not say, I assume that if you do not sign the contract, those people will be the first to be laid off (again, due to the nature of the business).

I want to sign it, but even though it is non-binding and I am still at-will, one of the "by signing this document you state that" clauses is that I intend to stay until the end of the year. I do not. Not only was I looking for work before this, I am currently seeking employment elsewhere, and as such, I have no intention of staying that long, unless I can't find work.

So, I have a moral dilemma. Am I being too honest?
What would you do?

I don't know what kind of a money situation you're in, but $750.00 is not a lot of money to agree to be laid off. However, in that you are seeking new employment you might just have your start date for the new job be the end of whatever your company's year is.

I mean, take the money unless you have a better alternative, but there could be language to the general effect that if you break the deal you might have to pay the money back (like, it would be withdrawn from your final pay check or something), and if so.... ok.

It really is just a question of how important the money is to you, relative to your other options.
Khaos_Mage
Posts: 23,214
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8/10/2015 3:24:41 AM
Posted: 1 year ago
At 8/10/2015 2:02:57 AM, YYW wrote:
At 8/7/2015 2:25:50 AM, Khaos_Mage wrote:
So, the company I work for essentially had an exclusivity contract with a client, who has informed us (three months ago) they will not renew the five year contract, thus, our company is scrambling to find new clients.

However, due to obvious reasons, and perhaps others as well, my company announced yesterday that anyone who signs a non-binding contract saying they will work until the end of the year will get a $750 bonus, and obviously, since they are staying, if they find work, they will still have a job. The bonus works as $250 up front, and $500 at the end of the year (so it is like a week of pay severance). Due to the nature of the work, some people may be let go before the end of the year, and those people, if they signed the contract, will still get the bonus.

It seems like a fairly fair offer, but it does seem not worth the risk (i.e. not taking a job before the year ends). And, something they did not say, I assume that if you do not sign the contract, those people will be the first to be laid off (again, due to the nature of the business).

I want to sign it, but even though it is non-binding and I am still at-will, one of the "by signing this document you state that" clauses is that I intend to stay until the end of the year. I do not. Not only was I looking for work before this, I am currently seeking employment elsewhere, and as such, I have no intention of staying that long, unless I can't find work.

So, I have a moral dilemma. Am I being too honest?
What would you do?

I don't know what kind of a money situation you're in, but $750.00 is not a lot of money to agree to be laid off. However, in that you are seeking new employment you might just have your start date for the new job be the end of whatever your company's year is.
Keep in mind that there is a very real liklihood that everyone, save for maybe a few (like five), will lose their jobs and be laid off. It isn't agreeing to be laid off, it is stating you intend to remain until the end (i.e. not leave early).

I mean, take the money unless you have a better alternative, but there could be language to the general effect that if you break the deal you might have to pay the money back (like, it would be withdrawn from your final pay check or something), and if so.... ok.

It really is just a question of how important the money is to you, relative to your other options.

The money will be taken out of my last check if I breach the contract, which I have every intention of doing. My issue is that, by signing the contract, I am stating that I intend to stay until the end of the year, which is a lie.
Would you sign a document you know is false? I find it dishonorable. But, that's why I have a hard time in the business world (e.g. I tell the truth in interviews....big mistake LOL).
My work here is, finally, done.