Does a Golden Hello bring loyalty?

Entrepreneur and inventor James Dyson has announced that he will create 400 jobs over the next two years.

Many of these jobs will go to bright, young graduates. Rewards encompass starting salaries for engineers of around £28,000 with many new employees receiving a ‘golden hello’ of £3,000 cash.

Read the full article, published in Management Today here – http://www.managementtoday.co.uk/news/1116770/

Whilst Dyson’s growth and ability to boost the workforce is to be applauded, will high starting salaries and Golden Hello’s be enough to gain loyalty from the workforce?

What else is needed to keep these enthusiastic new employees attached and engaged to the company? Are they in it for the long haul, or will they look for the exit once the value of the Golden Hello diminishes?

I’d be interested to hear your views.

 

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One thought on “Does a Golden Hello bring loyalty?

  1. Phil, interesting article although Dyson doesn’t fully explain his thinking on the golden hello. Not the same as the golden goodbye to probationary staff that Zappos operate. My view is that the creativity and innovation he wants is best supported by getting money off the agenda and focussing on a shared purpose for the business – giving these graduates the environment to learn, practice their skills and knowledge – more like Google do with their 20% time.

    Dyson says he likes graduates as they are bold and aren’t afraid of making mistakes – I hope he isn’t offering conditional performance bonuses as the science promoted by Dan Pink would say that offering “if then ” bonuses etc actually reduces innovative thought.

    Peter Cruikshanks

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