Jun 14, 2022
How To Avoid The 'Counteroffer Issue'? Don't Offer The Candidate More Money
It’s a common trend in this buoyant recruitment market: the client finally finds their ideal candidate, they make them an offer, then they discover the candidate’s current company has come back with a fantastic counteroffer.
Unfortunately, it’s not as simple as responding with a counteroffer yourself. Their existing employer holds a lot of cards, namely familiarity, and the potential to develop their role now they realise the employee could be resigning. You need to be prepared for a counteroffer from the first interview – and, more importantly, prepare the candidate too.
In this blog, we explain how.
Ask the candidate about resignation day
Put the individual in the frame of mind for resigning ahead of time, then question what their employer would do and say. For example, there’s a high possibility they’ll be offered more money. From their reaction, you may be able to tell whether this would tempt them to stay with their current company or not.
It’s important to present multiple scenarios so they can explore all avenues. This will help them realise for themselves why a counteroffer wouldn’t work, rather than feeling forced into a rushed decision, or as though they’re being lectured.
Of course, their employer’s counteroffer could persuade them to stay. In this case, the likelihood is they weren’t going to leave the company anyway, and were simply looking for a pay rise. But by carrying out this process you’ve saved time in the long run, as you wouldn’t take them through to the next stage of recruitment.
Consider other important factors
Whilst salary is a key focal point, it’s not all about money – as our 2022 Salary Guide proved. There are other critical factors at play, like needing a new challenge and not getting along with a colleague or boss.
Find out what would motivate the individual to accept your offer, and learn what would prompt them to reject a counteroffer. Dig deep and get them to open up about their must-have benefits and overall career path. Not only does this show you’re interested in them as a person, it will get them thinking.
After this conversation, they’ll be clearer on what they do and don’t want from a job – and so will you.
Promote your employer value proposition
When they’re talking about what motivates them to agree to an offer, or refuse a counteroffer, remember to mention what your brand is offering them. For example, if an individual is unhappy with their employer’s flexible working scheme, explain why yours trumps it.
Promote your employer value proposition (EVP), from the company culture to your focus on social issues – after all, a holistic EVP is the way forward. When you do this, take it beyond the interview, but don’t just send over a few links via email. Provide real-life examples and go into detail about what makes your EVP better than anyone else’s.
If they’re the right candidate, you need to voice how they’ll fit in to your organisation, and what working there would actually be like for them. By enabling them to envision this, they won’t be tempted by a counteroffer.
Secure top talent with Cast UK
By implementing these steps, you can avoid losing the best talent to a counteroffer. But if you need help finding people in the first place, speak to Cast UK, we’re experts at handling candidate offers, the negotiation process, and that tricky gap between someone accepting your offer and their first day in the job.
Plus, we have a range of Recruitment Solutions, and can support with everything from video interviewing to employer-branded advertising. Call us on 0333 121 3345 or email firstname.lastname@example.org to discuss which Solution is right for you.