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Accepting a counter offer can seem like an easy option but it can also have a long-term impact on your career.

Faced with an increasingly tight employment market, competition for experienced staff has not just impacted hiring strategies but even more so retention strategies as companies are increasingly using counter-offers as an essential part of their retention strategy.

Experienced staff are often faced with multiple offers and quite often these will include a counter-offer from their current employer. We have seen clients increase salaries by up to 50% in order to retain key members of staff within the finance sector – the costs of replacing staff are so high and competition is so tight that companies are pulling out all the stops in the ongoing issue of staff retention.

It is a difficult decision to weigh up a new company against your existing employer when a decent counter-offer is on the table and employees should carry out their own due diligence when looking at any new opportunity.

Accepting a counter offer can seem like an easy option but it can also have a long-term impact on your career. When weighing up a counteroffer against a new offer of employment we would always advise candidates to analyse the reasons that prompted them to look for a new role in the first place.

Quite often a counter offer will offer a pay increase but you will fail to really address any other issues that you may have with your existing company. Our experience has shown that once someone accepts a counter offer they will still start looking for a new role six months later!

Courtesy of: IRC

http://www.irishrecruitment.ie/