Counter-Offers, and how they affect you

Apr 2022 | Blog

GPN Recruitment are a specialist finance and accountancy recruitment consultancy that specialises in recruiting permanent and temporary staff and we deliver a very personal, professional, and trustworthy service that benefits both candidates and employers alike. But like everything in life, not everything goes to plan……

The need to be adaptable, flexible, and proactive has always been at the forefront of what we do, but never more so than in recent times. We like to think we’re one step ahead at GPN Recruitment, and so when we are sometimes thrown a curveball, we are more than ready for it. One such example of this is the counter-offer.

If you didn’t know already, a counter-offer is an offer from your current employer that rivals the one you have received from your potential future employer that tries to convince you to stay. It’s a tricky situation for everyone concerned, and one we feel that both candidates and clients alike should put plenty of thought into to reach a satisfactory conclusion. And any thought should be proactive, not just reactive……

As a candidate, it’s great to feel wanted, valued, and appreciated at work, isn’t it? Yes, we all go to work to earn money, but job satisfaction, challenge, and progression are all key motivators as well as what appears in your bank account. It’s said that around 20% of our total waking hours are spent at work – so, surely, it’s important to enjoy it and feel wanted? That’s why it’s always a huge boost when you receive a job offer that you think truly values your worth. And what that sometimes ensures is that employers is trigger a counter offer…….

Counter-offers can come in many ways, shapes, or forms: salary increases; bonus schemes; company benefits, a new role or job title; extra or additional responsibilities (or even some of your workload removed); promotion etc….or indeed, a combination of these.

So, when your existing employer counter-offers, shouldn’t you just stay? Indeed isn’t it easier to just stay? At GPN Recruitment, we don’t necessarily think so.

Perhaps you should ask yourself these questions……

  • Wasn’t there a very good reason that you started to look for a new job in the first place?
  • Why are your current employers offering what you want NOW?
  • Why should you listen to a company that hasn’t either listened to you or appreciated your worth before?
  • Shouldn’t the world of work be based on trust and respect? Hasn’t that now been broken or damaged?
  • Don you think your loyalty will be questioned if you stay? Indeed, will some others see you as slightly mercenary now?
  • Do you think all employers stick to their word once you’ve agreed to the counter-offer?
  • Are you truly valued, or are your company more worried about staff retention than your needs?
  • Will staying at your current workplace make you happy?
  • If you turn down a job that you have already accepted and which involved your potential new employer in a lot of time/effort, couldn’t this go against you with future employers?

The job market has been candidate-driven for some time now, and that’s why it’s hugely important that clients ensure that their staff are happy and valued on a regular basis. If your company or organisation is doing well, it’s easy to be complacent – but we feel that when you are doing well that is the time to take stock and plan for the future. And surely your staff become more attractive propositions if they are successful?

Inclusive employers are both popular and successful employers. So, you or your HR team, have that conversation about staff wellbeing, that pay rise, that new bonus structure, that promotion etc you’re your employees….sooner rather than later. Staff retention should be very near the top of all company’s planning, as a company is only as good as those who work for it. It’s all about not taking anyone’s job satisfaction for granted. Indeed, think about it on a staffing, recruitment, and monetary level – it often costs a lot more to bring someone new in than it does to retain existing staff, it will certainly take more time to do so, and won’t it be pretty difficult to see expertise leaving the building?

Counter-offers affect both candidates and clients alike. Luckily for you, GPN Recruitment’s extensive experience and expertise in the financial sector ensures that we are able to advise and support you on this with the utmost confidence. GPN Recruitment: The personable, trustworthy, experienced finance and accountancy recruitment consultants.

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