Welcome to The Fordyce Letter:

The Fordyce Letter

Straight Talk for the Recruiting Profession


Counter Offers

Counter Offers

The Best of The Fordyce Letter 2011, #4 — Why Counteroffers Don’t Work



counteroffers

Editor’s note: Tony Beshara’s article was the 4th most popular article on The Fordyce Letter in 2011. It originally ran in March.

Two or three times a month we get a call from a person who wants to leave their job primarily because the counteroffer that he or she agreed to three or four months earlier had, agonizingly, not worked out. Their approach is usually accompanied by an attitude of anger, disappointment, and disgust that they are back looking for a job with more determination than ever. The perceived promises in the counteroffer they accepted didn’t materialize and they are really committed to leaving their job . . . this time.

“Buying” an employee back when they try to resign, a counteroffer, rarely works out, even in the short run. Ninety-eight percent of the time, the employee leaves within six months, and often with more acrimony than the first attempt.

Counter Offers, TFL archives

Why Counteroffers Don’t Work



counteroffers

Two or three times a month we get a call from a person who wants to leave their job primarily because the counteroffer that he or she agreed to three or four months earlier had, agonizingly, not worked out.  Their approach is usually accompanied by an attitude of anger, disappointment, and disgust that they are back looking for a job with more determination than ever. The perceived promises in the counteroffer they accepted didn’t materialize and they are really committed to leaving their job . . . this time.

“Buying” an employee back when they try to resign, a counteroffer, rarely works out, even in the short run. Ninety-eight percent of the time, the employee leaves within six months, and often with more acrimony than the first attempt.

Counter Offers

Counteroffers – Are You Kidding Me?



ToughQuestion

Nope, it’s true…they are making a comeback!

At the 2010 Fordyce ForumJenifer Lambert led a great presentation on her research based on client needs and satisfactions.  One of the topics that came up in that discussion was the resurgence of counteroffers.  I remembered an article I had used in 2005 as we were experiencing incredible competition for talent.  I often gave this to candidates as I conducted their initial interview to try and head off counteroffer acceptances. I want to offer that to Fordyce Readers as a downloadable pdf to share with their candidates as the situation arises (and it will!).

Counteroffer – Just Don’t Take It!

Picture this scenario:  After working several years for your current company, you feel your job has become stagnant.  The working conditions have declined, or were never what you expected, your company or position has not been challenging to you, and there is little room or opportunity to reach your full potential.  Fortunately, you have secured a new position at another company and you are looking forward to a better environment, management, salary, commute, promotion potential, flexibility, or whatever the benefits may be that will be an improvement over your current situation. When you inform your manager of your decision to leave, s/he may give you an offer to entice you to stay, even promising to match whatever benefits your new position may be offering. It could be a higher salary, better benefits, more responsibilities, or a job title to make your colleagues green with envy.  This is too good to pass up, right?