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The rise of the counteroffer: Tips on how to respond effectively

Gaelle Blake - Hays

In a competitive talent market, professionals are increasingly being presented with counter offers from their current employers, after disclosing that they’ve accepted a new role.

What is a counter offer?
Counter offers are made by employers in a bid to prevent an employee from accepting a new job. Employers often use counter offers to try convince a professional to stay and often included within the proposition is either a salary increase, a change of title, a promotion, potentially accommodating preferred working arrangements, or any combination of these.

Close to a quarter (23%)* of employers are more likely to counter offer employees now than before the pandemic. In addition, over (57%) of professionals say they could be tempted to stay in their current role if offered a counter offer with increased pay or improved benefits  – but how can you be sure you’ve made the right choice, as well as being completely satisfied that you’ve handled the situation to the best of your ability?

Gaelle Blake, Head of Permanent Appointments at Hays UK&I, shares her thoughts on how to effectively approach the situation: “According to our latest survey (March 2022) 1/3 of professionals (33%) were anticipating a job move within the next three or so months. Counteroffers naturally would have come with the territory.

Whilst every case is unique, often, it’s widely believed that employers may feel inclined to propose a counter offer, as the cost and time of hiring, as well as the resources required to train new talent, is a prospect that many companies would rather avoid.

Therefore, it’s important to have this thought in the back of your mind when approaching the topic of your resignation; I also think it’s pivotal to ask yourself, why is your current employer only offering this now once you’ve handed in your notice? Was it not necessary to show that you were valued before your resignation, especially if you addressed your concerns or issues?

Having said this, ultimately you need to go with a decision that sits right with you. By anticipating and preparing for a counter offer you’ll be confident that your next move, whether that’s accepting the new role or count-offer, will be a thoroughly considered plan, in comparison to acting on impulse as a result of you being caught off guard.”

*Hays Salary & Recruiting Trends guide 2022

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