In an employment market where talent is scarce, and unemployment is low, most candidates for open positions are already working at another company. One of the most common obstacles that can arise after making an offer to a candidate are counteroffers from their current employer. Here are ways to address (and prepare for) counteroffers.
Discuss potential counteroffers with the candidate early in the interview process.
The best way to prevent being blindsided is to be prepared. Ask candidates what they would think, say, or do if they were presented with an ideal counteroffer package from their employer. This can help clue you into the candidate’s mindset, while also preparing the candidate to address a counteroffer if and when it comes.
Stay in touch with the candidate immediately before and after their resignation.
Leaving an employer for a new opportunity is an emotional experience, where the candidate may be saying goodbye to valued mentors and friends. Knowing they have a trusted partner and advocate on the other side who is ready to help them embrace a new opportunity will make it easier for them to cut ties.
Ensure your own offer meets all of the candidate’s needs and motivators.
Money may be a main motivating factor for a lot of candidates, but it is likely not the only factor they are considering. Many candidates are looking for non-traditional benefits, such as flexibility in how and when they work. Stay in tune with what your candidate values and ensure you are meeting their needs and expectations.
Even after following these best practices, the decision of whether or not a candidate will accept a counteroffer ultimately lies with the candidate. If your team needs help managing the search for talent or if you are looking for guidance on how to work with candidates who are receiving multiple offers, we want to help. Greene Resources has over 18 years of experience working through the hiring and onboarding process with companies of all sizes and we would love to hear how we can make an impact on your business.