While the “Great Resignation” continues to rage on, organizations are doing everything they can to hold onto their employees. Specifically, they’re doing everything they can to hold onto their best employees.

Because of this, many employers are resorting to making a counteroffer to their employees when they accept an offer from another organization. It used to be that organizations would only make a counteroffer to a select few employees and only every once in a while. (Sometimes, hiring officials would make a counteroffer to buy some time so they could find a replacement for the individual.)

However, times have changed. The counteroffer is now an actual retention tool that companies use on a much more frequent basis. Qualified talent is so scarce in some industries and niches that employers feel as though they have no choice but to make a counteroffer in order to keep their top employees.

This means when you hire a job candidate and they accept your offer, there’s a good chance they’re going to receive a counteroffer from their current employer. Since that’s the case, what can you do about it?

We’re glad you asked! Below are three steps for preventing your new hire from accepting a counteroffer:

#1—Accurately gauge the candidate’s sincerity.

How serious is the candidate about making a change? Do they seem only half-interested, as if they’re a “tire kicker”? What are the specific reasons that the person is considering making a move? (These are their “pain points.”

If money seems to be their main motivator, be wary. That’s because if money motivates a person to leave, then money can be used to convince that same person to stay, meaning they’re at risk for accepting a counteroffer.

#2—Prepare the candidate for the possibility of a counteroffer.

Some candidates are not prepared for a counteroffer. They don’t think that their employer is going to make one. Unfortunately, this also makes them more susceptible to accepting one. (“They DO care about me!”)

The key is to ask the candidate upfront if they would accept a counteroffer. Candidates who discuss a counteroffer beforehand are less likely to accept one. And candidates who verbally indicate they would not accept one are less likely to do so, as well. Generally, people don’t like to go back on their word.

#3—Provide a superb onboarding experience.

Retention of your new employee starts the moment that they accept your offer of employment. This means that you must start the onboarding process immediately.

After all, there is no guarantee that the candidate will show up for their first day of work as your new employee. They might accept an offer from another organization after accepting yours. Or, of course, they might accept a counteroffer.

As the “war for talent” continues, winning each battle requires a proactive effort and attention to detail. Combatting the counteroffer that your new hire might receive is of paramount importance in making sure that you acquire the talent you want in this competitive environment.

By | 2022-10-14T18:45:47+00:00 October 19th, 2022|Hiring, Job Seeker|0 Comments

Leave A Comment