If you’re handing in your notice, prepare yourself for a counter-offer including pay rises, job titles or promotion prospects amongst the trade-offs on offer.
According to a new survey from Brightwater Recruitment Specialists, Irish employers are keen to hold onto their talent pool – and they’re finding the funds to make an offer you can(t) refuse.
The study found 54 per cent of Irish staff have received a counter-offer when handing in their notice, while 42 per cent of Irish companies now use counter-offers as a tool to retain staff
Pay rises of up to 50 per cent, new job titles and greater promotional prospects are just some of the opportunities being used to entice straying employees.
But does it actually work?
Apparently, it’s not about the money, money, money. While the majority of counter-offered employees said they felt flattered by their employer’s attempts to keep them on-side, less than half of those actually accepted the offer.
The research found that there was one way to try retain your most valued staff – and it all involves the power play.
Those who did accept a counter offer were more likely to negotiate more power from their employer, as well as an increase in salary.
