Tired of Losing Top Candidates to Counteroffers? Take Action Now

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When a candidate resigns from a position to begin working with you, there is an innate risk that they will receive a counteroffer from their current employer. While these negotiations may complete before the applicant officially has their first day with you, sometimes a counteroffer will come in weeks or months later. If they accept the new offer on the table, you may be back to square one in regards to the vacant position.

While you can’t force a candidate to turn down a strong counteroffer, there are steps you can take to help them see why staying with your company is the best option.

Start at the Beginning

One way to stave off counteroffer concerns is to bring up the topic during the interview. It is acceptable to ask an interviewee how they would feel about a counteroffer from their current employer. Some will admit immediately that they would consider such an offer. Others will fervently deny it. For those that say they wouldn’t consider one, write down their exact reasons why. Then, you can refer to those notes should a counteroffer come in.

You also want to make sure every interaction the candidate, or new employee, has with your company is as positive as possible. Keep tabs on how their onboarding is going, and see if they feel they are settling in. If they express any concerns, work to remedy them quickly whenever possible. By making them feel welcomed and included, they may be more inclined to stay.

Make Sure Your Offer Is Competitive

If you failed to make a truly competitive offer to the candidate, then don’t be surprised if you get outbid. If they are the right person for the job, make sure your offer is enticing in its own right. Even if you know the person may accept the job for less, falling behind the industry standard will not work out in your favor over the long run.

Understand Candidate Needs

Some candidates will simply follow the money, and that can be hard to fight against if your company is not prepared to offer something similar. However, it isn’t always that cut and dry. A person may leave because they didn’t feel adequately compensated for what they were doing or their career had stagnated. If those issues were expressed to you during the interview or onboarding process, speak with them about these issues.

If they previously felt unappreciated, they should wonder why it took them leaving to get a solid offer. While the future is never a guarantee, it is possible that the same situation could arise again down the road if they go back to their previous employer. Additionally, if the only change offered was salary, the nature of the work and environment are likely the same. If they were unhappy with a part of the job besides the salary, they might be walking back into that same situation. In fact, the situation may be worse since they chose to leave only to return.

Admit When You Have Been Defeated

Once it is clear the candidate is going to accept the counteroffer, handle the change gracefully. Begin working towards finding a new candidate, or following up with previous candidates to see if they are still available. You can enlist the services of a staffing company, like CPS Recruitment, to help you get ahead in your candidate search.

By acting quickly, you can prepare to fill the vacancy as soon as possible. Contact CPS Recruitment to see how they can help you get on the fast track for a new employee.

 

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