Counter Offers
In what is increasingly becoming a candidate-driven market, it’s not surprising that counter offers are becoming more commonplace as companies look to keep hold of their best talent.
You’ve seen several candidates courtesy of Network Open and have narrowed down the shortlist, you even have your preferred option. However, just as you’re about to celebrate they drop the bombshell that they’ve been offered a higher salary, better package and possibly even a promotion at their current company.
Clearly; this is not the best news you could’ve received but there are steps that you can take to ensure these kind of scenarios become less likely:
Discuss at earliest opportunity
Bring up counter offers during the interview stages. Ask the interviewee why they have chosen to leave their existing employer and question what they will do should they receive a counter offer. If you start to get warning signs that they could be persuaded to remain where they are, it may be worth focusing your attentions on other candidates.
Why are they leaving?
If it’s all about the money or desire to be promoted, this could easily be addressed by their current bosses. The last thing you want is to get involved in a bidding war. There will be plenty of other candidates out there who want to work for you for reasons other than financial.
Don’t lose contact
If somebody leaves the interview having made the right impression, make sure you keep them engaged through regular communication and updates about the recruitment process. Continue to sell the company to them through regular email and phone exchanges.
Become an employer of choice
Sell the benefits of working for your business: not just the financial package, but the working culture, the training and development the opportunities to grow. If you participate in team bonding activities let them know. Remind them why they were first attracted to your business in the first place.
Lean on Network Open
Our consultants are well-versed in the many forms of counter offers and their likely outcomes. They are also be able to properly qualify a candidate’s job seeking motivations. If they show signs of using the whole process as a bargaining tool, it’s highly likely they will be considered suitable for you in the first place.