Offer Management in a Pandemic what can you do?
Over the last 12 months we have seen several trends, some of which we have covered. One trend that is becoming very apparent in the last few months is the number of counteroffers that are being made and accepted.
The good news from this trend in the market is that it indicates that great talent is still being hotly contested and is in demand, but the bad news is it can waste a lot of resource and time in the process.
So with this in mind I want to look at both sides of the coin and how we can prevent this happening or manage the process better.
Take away the need for Counteroffers
The first aspect of this is managing the talent you have and don’t want to lose. The counteroffer process is always a dangerous play and although a number are accepting counter offers currently more often, they are rejected.
- People rarely move purely for money, but it is important, so the number one rule is making sure your talent is paid fairly.
- Secondly make sure your talent is aware of the business plan and how that impacts them.
- Thirdly communicate regularly, this has been often overlooked in recent times and a lot of candidates we register include this in their reason for looking to move.
- Finally, don’t leave the position the business is in to second guesses. Whether experiencing problems or everything is going well, I think people appreciate honesty and are more likely to commit when a relationship is on this basis.
Engaging Talent during the Offer Process
People are more scared of moving roles and companies currently than ever. With so much change already happening all around them it does not take as much as before to convince people not to change roles even if they are not happy.
- Many processes are now digital, and it can make it harder for potential candidates to be fully invested in a process without having met in person and visited the business that they will ultimately work for. So, if you can include a site visit (even a digital tour is better than not).
- Share the current position the business is in and how the business has been dealing with the pandemic. What has been the business strategy and what is the plan exiting the pandemic. A number of counteroffers are accepted because of the unknown with the new business.
- Keep in touch with the candidate after the offer is made and ideally engage and make them feel like they are joining an inclusive business. Invite them to a teams meeting or share something relevant with, get them excited about joining your business.
You can’t stop the counteroffer acceptance from ever happening but as a recruitment business we have seen a reduction in it happening with clients who