When you receive that resignation letter is it wise to make an employee a counter offer?
People generally come and go in business, this is life, you need to ask yourself the following questions:
– How much are they contributing?
– Will they be hard to replace?
– Are they coping in their job or are they working overtime?
– Are they moving to a direct competitor?
– Were they ear marked to grow in your company?
– How is their salary benchmarked in comparison to others in your industry?
Should you try and keep them, AND will just giving a salary increase solve the main problem as to why they are leaving?
You need an in-depth conversation with them to understand exactly why they are leaving otherwise you will find that they will resign again within 6 to 12 months after they have received their increase.
An alternative rather than a counter offer, is to look at incentives that will encourage your employee to stay instead of a monetary jump. You could consider negotiating additional leave, their working hours, incentives, or some time working from home.
Remember if your best people in your business can achieve their goals in your business, they will deliver value, if they cannot, then be happy for them to leave and wish them success.
Counter offers definitely need careful thought before action is taken. We recommend you tread carefully …
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