We all dread to hear it but let’s talk about it… COUNTEROFFERS.

by | Mar 8, 2024 | Blog

Electrical Wholesale is an industry rife with counteroffers and these can often leave both clients and recruiters feeling frustrated…but why are counteroffers so common and are they actually a good idea?

First, let’s look at some of the statistics that are out there:

  • 80% of candidates who accept a counteroffer from their current employer end up leaving within 6 months.
  • 9 out of 10 candidates who accept a counteroffer leave their current employer within 12 months.
  • 50% of candidates that accept counter offers from their current employer are active again within 60 days.
  • Only 15% of employees who accept a counteroffer stay with a company for 2 or more years afterwards.
  • 57% of employers agree that making counteroffers is not an optimal retention strategy.
  • Research shows that counteroffers are most prevalent in London.

So what does one do, when presented with a counter offer situation?

ASK:

Was money the main reason I was leaving, or are there more underlying problems?

Why are they only offering me this money now I’ve said I’m leaving…if I’m worth it, shouldn’t they have been paying me this already?

Why did I proceed with interviewing for another company, what attracts me to that job role / company?

Am I going to miss out on a better opportunity, just for the sake of a few quid?

ACT:

Talk to your Recruiter!
Pick up the phone rather than email or text, it’s always better to have a conversation when these situations arise.

Have another conversation with the client.
Are there any reservations you want clarification on that could help with your decision?

Make a pros and cons list for both job opportunities – writing things down can often help with the thought process.

Don’t make any rash decisions! More money is of course attractive BUT pause and think before snapping it up…you may be passing up on a fantastic new opportunity!

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