Chances are that if you have been trying to hire in to your company recently someone you have offered a job to has accepted, resigned at their present employer only to be persuaded to stay with a counter offer at some point during their notice period.
It’s hugely frustrating.
It is also very costly in terms of time because you are often back to square one and have to restart the recruitment process. This often puts you back several months, leaving your current team to take the strain in the meantime.
So how can all this be avoided?
There is no single fail safe method. However, using the following guidelines will vastly improve your chances of avoiding this scenario:
1. Consider the non monetary aspects of your job offer from the candidates perspective. Is your job closer to home for the candidate, for example? If your job is very similar to the candidate’s current job with the only difference being a small uplift in salary you are very vulnerable to a counter offer. Choose a candidate who has additional reasons for wanting to join you beyond salary.
2. Make your best financial offer first time. The harder a candidate has to negotiate to get to a point they are willing to accept, the more doubts will creep in to their mind about if a move to your company is the right thing to do. Going in to resign with any doubts makes them wide open to a counter offer.
3. Promises of future promotion are rarely enough. If you try to recruit a candidate on the basis of a small increase in salary and responsibility now, with promises of an uplift in both in six months time rarely works. When they go in to resign their current employer can easily match promises for the future. Whether those pledges materialise won’t matter because the candidate will have decided to stay long before they are put to the test.
I hope this helps. If you want to discuss this or any other recruitment related subject please feel free to call me on 0161 924 2384.