Thursday 13 July 2017

How To Ensure Your Chosen Candidate Doesn’t Accept A Counter Offer

Employment for those aged between 16-64 is at its highest since records began in 1971, and unemployment at its lowest since 1975*. As of such anyone looking to grow their business, and hire talent is faced with the difficulty that pools of available talent are depleting, and contest for for ideal candidates is high.

So when you find great talent and make them an offer, the last thing you want is their previous employer to play a counter offer, and you to lose that perfect team member. Counter offers often utilize competitive financial packages, personal relationships, and taking advantage of known vulnerabilities.

To avoid, what may seem like inevitable, bidding wars over rare talent we’ve compiled a few tips on how to prevent potential employees accepting counter offers – winning your candidate with an offer they can’t refuse.

1. Offer the Correct Salary

You are excited about having the candidate who offers bags of potential on board, but then you crunch the numbers and offer a salary that is similar or less than what they are receiving now. Offering a candidate a lower amount on the salary range is insulting for top talent, and it wastes everyone’s time.

While financial incentives may not drive a candidate, it’s almost guaranteed that a counter offer will be better in comparison - and likely would be the decider. If you’ve found the right person for your business, don’t skimp, or you’ll fall at the final hurdle.

2. Be Unique
However, if you know you’re unable to match a candidate’s current salary, that doesn’t mean that you can’t secure the talent. You can win over the candidate by offering a unique, and interesting set of benefits to your employee – how can you stand out from other employers?

Consider what you can offer over competitors: will the candidate experience working with exceptional businesses and fantastic clients? Do you have a social work environment, with outings? Highlight how you’re not offering a simple job but a career opportunity. Whatever you do best, sell it to your candidate and make it incomparable.

3. Let your Recruiter Help

A recruitment company can fight the counter offer battle with you. Recruiters hold the candidate’s hand throughout the whole process and are seen as impartial – positioning themselves as pursuing the candidates best interests. Recruiters are the friendly face that can help candidates after a tough resignation and will be there to listen to their offer dilemmas.

Recruiters offer invaluable aid through conducting role play, or discussing counter offers with candidates – helping them reason through their decision, and explaining why accepting counter-offers is often unwise, due to the displayed disloyalty to the original company, or highlighting the strengths of your business.

With a recruiter on your team, you have extremely beneficial insight into the candidates mind, and far more security against a counter offer.

4. Don't Be Afraid to Discuss Counter Offers

There is no point avoiding the elephant in the room. It is acceptable to discuss counter offers in the interview stage, it will help to open the mind of the candidate and will allow both you, and the candidate to prepare for the situation. Ask how their organisation handle resignations, which will mean they are ready for the scenario when it happens to them, and they know you’re aware of it too.

Another question to ask in the interview is why they want to move on, by having this knowledge you can use this to counteract if a counter offer sways them, it also helps you to create an offer that is tailored to their requirements.

5. Get Commitment on a Start Date

Having a start date imprinted in the candidate’s mind gives them time to prepare their notice, and forms a sense of commitment. Knowing when the candidate plans to hand their notice in means you can offer friendly moral support afterwards. Offering a friendly ear without pushing the candidate into a decision shows what a caring employer you are, which shines in your favour.

6. Plan Progression
The majority of candidates that come to you are looking for a future, not a job. If they’re considering moving on, they may feel like they are stagnating – take advantage of this and outline progression routes.

Offering a six-month performance review from the outset, evidence your commitment to their future. Don’t do this after a counter offer, make sure you are ahead of the game and are already forward-planning for their career.

7. Stay in Touch

Send press releases, newsletters and emails about upcoming business events, or simply call just to say hello. Make the candidate feel welcome, and like they belong.

An excellent way to get them mentally involved in your organisation is to ask their opinion about a business matter, so they feel their opinion is valuable. With this attitude, your new talent will look forward to joining your team.

8. Be Realistic

Finally, with every job offer, it is important to be realistic. Change is a difficult process for many people, and a comfortable old job with added counter offer benefits can be difficult to say no to. Don’t be defeatist, but be ready to accept that counter offers do happen – don’t pin all hopes on one person, and make sure to search for, and consider, multiple candidates. 

For more advice on recruiting the best sales professionals, or to get recruit the top candidates visit our website.

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