A detailed overview of flattering Counter Offers – But why are they vastly deceiving though?
Since working as a Recruiter I have represented many candidates to an offer stage across various construction disciplines, and I have to say that there is undoubtedly a common pattern amongst candidates who are presented with a Counter Offer, and having assessed most scenarios previously, it has now provided me with a real indication of who will be most vulnerable to this. It has nothing to do with age, nothing to do with level of experience, or whom the candidate is employed by, as everyone WILL face a Counter Offer in their careers at some stage or another.
I have compiled some key factors on what to expect, and assisting you in understanding the situation in front of you to help minimise any confusion. You may be someone who is facing this right now, or even somebody who has also experienced it already and would like to share their experiences too. You would certainly be more fortunate if you are someone who hasn’t faced this situation yet in your career, and be more than welcome to use this article to tackle the issue in the future. To achieve this you will need to have a real understanding of the true reasons behind the knee jerk/ desperate reaction in your employer making you a Counter Offer, as opposed to viewing this as cornerstone for a pay rise (I am sure you are not that person), or being flattered by the offer of promotion or 1 on 1 attention from your boss. Too little, too late!?
Why do so many counter offers get in the way of new employment Offers?
- An evident skills shortage in the construction industry, especially commercial staff.
- Stricter adoption of tactics to retain staff because of the skills shortage, and risk of losing you to a competitor.
- A well dressed promotion (although normally a fast tracked promotion with later prospects diminished).
- A temporary period of providing the necessary managerial time, attention and recognition which has been neglected.
But why do people get to the point of resigning?
- The majority of employers believe that their employees resign due to being offered more money and that is truly a mistake.
- Often, new opportunities can offer higher remuneration; however, it is not usually the main driving factor behind an employee leaving.
- An employee spends most of their life at the workplace, and in most cases this can be a higher proportion than home/ family time, depending on their circumstances, so poor job satisfaction, career prospects and a broken down relationship with their line managers are the main drivers.
- The way in which an employee is managed (whether it is personal or not) is more often than not the main driver.
- Most of our candidates approach us by way of feeling a high level of frustration, de-motivated, undervalued, concerned by their low level of recognition and political culture at the workplace. They are not driven by the prospect of a counter offer and often experience deep levels of disappointment and frustration which overall, affects their levels of stress at the workplace and conflicts their work production and motivation.
- Be careful, if you are disappointed, as the employer will recognise this when you come to resign, and there is a very high chance your employer will give you the time and attention which has been absent during your employment. Many candidates experience this upon a counter offer stage, and often lose out on the primary reasons why they resigned in the first place. An employer will naturally attempt every measure to get you to stay, and most of the time, not because they genuinely want to keep you, but more regarding the loss of profits, poor levels of staff retention well documented, implications on team morale and the cost of the replacement (which is less than the cost of a higher bonus and promotion).
- The aforementioned reasons for offering a counter offer to you as a candidate now make perfect sense for a lucrative and tempting counter offer, as generally speaking, the extra salary and package increase, is worth less, than the loss of profit, and time/ cost of re-hiring.
- It is easy in this instance, to forget, that your boss and most people in general rarely change. It is common practice for things to go back to normal within two weeks of accepting a counter offer.
- If you do accept a counter offer, it is more than likely that the employer will use this against you when It comes to future promotions, future redundancies as they will expect you to leave imminently anyway. We are now in an era where workplace loyalty is non existent, and in a competitive world, it is human nature to want to venture out in an exciting new chapter, and career opportunity.
Handing in your Resignation Letter
- Now that you as a candidate are aware that your employer is likely to do undertake “every trick in the book” to retain your services, it is important, to approach handing your resignation with the right attitude (resilience and courage), to prevent any changes to your goal of having a fantastic career with your new company that genuinely cannot wait for you to be on board.
- Being fully aware of the tactics in which your employer is likely to adopt means you will not be surprised by any reaction they give you. Remember, that they are likely to be surprised and will do anything to get you to stay, as it is about them, and more often than not, not about the you.
- Most effective practice to ensure you do not burn a bridge is to hand in a well drafted resignation letter to your line manager which is clear, concise, polite yet simple.
A final reminder
- 89% of candidates across the industry which accept a counter offer from their current employer, leave within the next 6 months of their employment.
I would always advise thinking twice about the prospect of a counter offer, every situation is different to one another, however, undergoing a full recruitment process to leave your current employer and accept a career opportunity you truly wish to pursue, may not arise of the same magnitude again. You certainly would not have gone to the trouble of interviewing if you were satisfied in your current employment.
It is now, more than likely, the right time for you to owe yourself the new chapter with full enthusiasm and excitement, with your head held high, and the ability to acquire a good reference from your employer.
Best wishes with your course of action, contact me if you would like further advice, even if you are being represented by another Recruiter I am still happy to offer plenty of advice on the topic.
Kind Regards
Sam Nassiri
Nasco Search
Mobile: 07505 900301
Email: samnassiri@nascosearch.co.uk