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Imagine a situation where the perfect candidate accepts a job offer. Your entire team is excited for the help they have been waiting for and have started making first day preparations for the new hire. Then, the dreaded call comes – the candidate has accepted a counteroffer from the current employer. The candidate had legitimate reasons for finding a new job and was shocked when a counteroffer was presented. Now his head is filled with thoughts of instant gratification, promotion, comfortability and most importantly – more money!
Over the past 10 years, nearly 50% of candidates who quit their job received a counteroffer and over half of those accepted the counteroffer. This means employers stand to lose 1 out of every 4 candidates that have accepted their job offer. To combat losing candidates in today’s labor market, it is imperative that employers prepare candidates for the possibility of a counteroffer.
There is no fool proof method to perfectly prevent a counteroffer, but being open, honest and up-front will significantly decrease the number of candidates who fall victim to the often-inevitable reality. Even the best recruiters lose out to counteroffers. No matter what, do not stop sourcing & screening until you know a candidate has given notice and is on their way out the door.
For expert advice on how to protect your candidates against a counteroffer, contact one of the HR professionals at EctoHR. The EctoHR team is available at 810-534-0170 or email@example.com.