2018 – The Year of the Counteroffer

I don’t care what industry you’re in, any business you talk to says they need more people. Yet, when trying to hire, most organizations can’t find the right people. Which begs the question; why is it so difficult to hire people when the market is so good? Companies and law firms are making money and everyone is busy!

 
There are a number of factors that make hiring challenging, but one, in particular, has made it extremely in today’s highly competitive market – the counteroffer! We’ve seen an increase in hires falling apart in 2018 when candidates accept new roles with companies or law firms, only to be offered and accept, a counter by their current employer.

 

Here are proactive steps an employer can take to avoid counteroffers (these aren’t fool proof):
• More due diligence on the frontend
• Talk openly with prospective candidates about interest level
• Have compensation packages that attract the candidates you need (stop using salary indicator websites)
• Take care of your current employees and help meet their individual “career-minded” goals

 

Those of you receiving offers, it usually isn’t wise to take counteroffers. Here are a few to consider:
• There is a reason you are looking to leave your current firm. The issues that caused you to look will not suddenly evaporate.
• A counter is not a show of appreciation. It’s a fear based response – an avoidance of the effort and time it will take to replace you.
• The trust will be broken. It will impact your working relationships and cause doubt regarding your commitment.

 

Today, employees are less committed to their employer and more committed to their own careers. If you want to be successful in attracting talent, take the time to know what that means and if you feel your current firm isn’t meeting your long-term goals, see what else is out there. In this market, everyone is a free agent.