BOTH the Company AND the Employee need to think carefully?
The structure around Counter Offers is vital, from the view of both the side of the Employer and the Candidate.
When you are offering a Counter Offer
If you are in the position of offering a Counter Offer you must acknowledge that you really value the candidate.
Be 100% sure about this before you give a counter offer letter, if it is accepted and you employ that person, you cannot just back out of it when things don’t pan out.
Consider the following:
- What value does the candidate add to the company as a whole?
- Can you see yourself working with them for a long period of time?
- Have you considered structuring the offer into salary (cash) and other benefits (such as medical, bonuses, leave, etc.)?
When you receive a Counter Offer
If you receive a Counter Offer letter, you can pat yourself on your back. It is a great achievement and speaks volumes about your VALUE. However, be careful, the excitement of receiving a letter like this can make one a little giddy and you might accept this with without considering the BIGGER PICTURE. It is important to ask yourself:
- Will staying for extra money sustain you so that you are happy in your day to day present job?
- Are you after 6 months going to feel the same way as you did when you first went looking for a new opportunity?
A few tips before accepting the offer:
- Be realistic, don’t go back with a counter argument that might just shoot you in the foot, remember you’re good but are you that good?
- Think beyond the money, what other perks and benefits are they offering that has far greater value than the money?
- Don’t give ultimatums, you may have some power here but being too arrogant can be to your detriment, it is important to be polite and ask how long you have to decide and if you need longer, ask nicely
If you need some assistance in this regard, speak to TIME PERSONNEL, your experts in recruitment!