How to stop counter-offers turning top talent’s heads
by Heat Recruitment
Counter-offers are one of the top challenges that recruiters face in today’s candidate market. Candidates can often receive multiple counter-offers at once, either from a new company or a current employer. Many candidates are becoming more aware that this can be the case, so, how can your business ensure that a candidate’s head won’t be turned? We’ve got a few tips you should be considering before making that first offer.
Understanding what motivates the candidate
When you first meet the candidate, learn about their background and personality rather than just focusing on how they meet the job spec. By taking some time to get to know them, you’ll begin to realise what actually drives them in their personal and professional life. This is something which can help hiring manager when it comes to making that all-important job offer.
Salary negotiation counter-offer
Not everybody is financially driven. Some people are looking for flexibility so that they can spend time with their family and for some, personal development is important, so a counter offer is not always about salary negotiation. There are a range of preferences for each individual candidate, but by being more personable with them you’ll be able to compile the ideal offer to suit their wants and needs.
Throughout the whole process, communication is key to showing a candidate that you’re interested and that you care. It can take time to receive applications and interview those with potential. If you leave people waiting to hear from you, they can easily lose interest and continue their search.
By constantly keeping in contact with candidates, hiring managers and HR professionals can make sure that they remain the real focus during an applicant’s job hunt. In addition, this will
make the candidate feel noticed – helping to develop a rapport that allows businesses to understand a person’s true intentions and motivations.
Don’t just sell the role, sell the company
While the role is what you are hiring for, it’s the person that you are investing in and it’s the company that the candidate is buying into. With this in mind, don’t forget the sell the company as well as the opportunity.
These days candidates will look at the bigger picture. They want to know how the company will grow and what kind of culture it will provide. So, don’t be shy about advertising this when meeting with them – it could be what sets you apart from other companies.
It may be tempting, when top level talent is on the line, to offer just about everything you can. When a candidate receives a counter-offer it’s essential that you review your package and make sure it’s reasonable. Always do your research to check that your salary is competitive.
If you don’t provide a good package for the position, you run the risk of pricing the salary too low and losing the candidate you want. As mentioned, if you know what motivates the individual you can tailor your offer around this. For example, if they are driven by person development, try giving them the opportunity to do a course or to have a development plan that is linked to a rising salary. Identify what best fits the candidate and offer what is in your range to do so.
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