As today’s job seekers and employers are undoubtedly aware, the job market is very hot right now. The U.S. economy recently added 943,000 jobs, the biggest gain since last August, and the unemployment rate fell to 5.4%.
This is why employers need to be doing everything in their power to recruit employees and grow their talent pool. For employers, this means being more competitive with offers for wages and salaries.
It also means being prepared for the dreaded counteroffer.
We’ve put together this quick guide for helping job-seekers and employers navigate this worst-case-scenario and how, given a strong offer and a clear picture of what a counter offer includes, we can avoid it ruining your next great career!
What’s Behind a Counter Offer?
At ImpactSearch our recruiters have seen too many examples of companies willing to throw away money to “stop the bleeding” and keep their employees who’ve accepted an offer elsewhere.
But as your partner in executive recruiting, we can help by coaching talent on what to do in case of the counteroffer. More importantly, we found it’s more proactive to examine what’s really in a counter offer, and why it isn’t a good idea to accept one.
Here’s a look at what really may be behind a counter offer:
- Money changes nothing – Suffice it to say that employees leave positions for a particular reason – job dissatisfaction, lack of career advancement or feeling unappreciated – and those are all good reasons to leave your old job. More money won’t make these reasons go away.
- Strings attached – If employees accept a counteroffer, many employers often believe the increase comes with strings attached. Employees unfortunately find after accepting that the counteroffer often might include variables like increased availability after working hours or weekends or seeking more productivity or better results.
- A sign of employer cheapness – Our recruiters will help candidates use the counteroffer to see the bigger picture about their employer. If an employer gives a counteroffer, it’s typically a sign that they under value their staff. We ask candidates to consider that if an employer is only willing to offer more money when an employee threatens to leave, it’s likely a sign of cheapness and that they’ve been getting away with underpaying valuable employees for far too long.
- Being put under the microscope – Once an employee informs their employer they want to leave, it’s a conversation that can’t be undone. At ImpactSearch, we’ve unfortunately seen examples of employees who, after accepting a counteroffer, find themselves under the proverbial microscope, with their loyalty scrutinized and questioned like never before.
Don’t Let Comfort Spoil Your Next Great Career Move!
We understand and appreciate how easy it is for employees to get comfortable at a company, especially if they’ve been there for some time. When you combine this comfort with a counteroffer, it’s no surprise that employees may choose to stay with an employer.
Yet while it might be a simple short-term decision, it’s one that has a way of getting more complicated in the long run.
Our recruiters work closely with job seekers and candidates to ensure that the reasons they’re looking for new employment remain top-of-mind all throughout the process. Because, at the end of the day, they’re probably very valid reasons. We’ve seen countless instances of employees who stand their ground and leave professionally and gracefully and discover a whole world of opportunity that awaits them in their new role!
Contact Us – We’d Love to Help
If you’re an employer seeking an executive recruiting partner who can help guide the recruiting process from start to finish, without a hitch, contact us – we’d love to help.