When a high performer resigns from the team, their manager often panics and runs to Human Resources to see if they can counteroffer to keep the team member. This strategy is like shutting the gate after the horse has bolted. The reason the employee has gained another role is because they are not engaged in their current role. Regardless of the reasons that the employee may give, if they have not advised their immediate supervisor of the fact that they are looking for work or that someone has approached them, there is an issue of trust.
If the reason for leaving is purely money-based, which is rarely is, the issue should have already been addressed. If the organisation can afford to pay the employee more, they should have already been paying that. The company has not miraculously increased the salary budget if they were being paid fairly and in line with the market the issue of salary should never come up in a counteroffer. If a company is willing to pay more once they realise that the employee can receive more elsewhere the culture of the organisation is in question.
When a manager seeks to counteroffer, this should be a red flag to HR and should be taken as an opportunity to advise them to work on the engagement of the team. It is the role of the HR professional to point out why the strategy is flawed and reasons why more effort needs to be placed in instilling a positive workplace culture.
Apparently, statistics show that if, as an employee, you accept a counteroffer, the probability of voluntarily leaving or being let go within one year is extremely high. 85% of people who accept a counteroffer are gone in six months, and 90% of people who accept are gone in twelve months. I cannot find the research that backs this up and I fear it may be an urban legend started to help recruiters combat the counteroffer! However, I can tell you that the anecdotal evidence shows that unless the underlying reason for disengagement is addressed, the employee will continue to look for alternative work.
If you are an employee looking for a change and you have been counteroffered, consider this option thoroughly. Reflect on the reasons that you wanted to leave (I propose that money was one of a myriad of factors) and be clear if these reasons have changed significantly enough to make staying a viable option.
39% of employees report they don’t feel appreciated at work according to Officevibe, and it is highly likely that the team will learn of the counteroffer and cause discontent. If you are not paying your employees fairly you are not appreciating them.
A story to illustrate my point: a high-performing female employee advised that she was leaving for a higher paid role, with more flexibility and a better company. It came as a complete surprise to the manager, “she never complained and always did her job.” It transpired that she was being paid significantly less than her male counterparts who often complained, did less work, and repeatedly asked for pay rises. At the completion of the recruitment process to replace her, a salary higher than what she had received at the new role was proposed for the new candidate. If she had just been treated fairly and paid with parity to the market, she never would have left.
Keep on top of the remuneration strategy, strive for fairness and focus on employee engagement, then you are unlikely to need to counteroffer as the team will not be interested in leaving.
If stress, overwhelm and underappreciation are reasons you are no longer enjoying your job, I have some likely unwelcome news. Unless you address the underlying issues in the way you work those problems will likely follow you to your next role. You can start a fresh at any time and have a job where you feel regulated and in control. Let me show you how!
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