Managing counter offers
How do you retain your high-demand candidates?
It’s an unfortunate truth of the market that in some sectors, the most highly in-demand candidates will want to be retained by their previous companies.
By anticipating and preparing for a counter offer, you can usually avoid the situation altogether. It is therefore crucial to ask the right questions in advance.
Why are you unhappy in your current position?
What have you done to address the situation?
Have you told your employer of your concerns?
What was their response?
If you are successful obtaining this position, do you expect to be counter offered?
If so, how will you respond? Will a monetary counter offer only solve the problem in the short-term?
How committed are you to your reasons for leaving?
These questions will do more than just inform you on the values of your potential candidates, they will reinforce the candidate’s decision to leave their organisation.
It's also useful to have a confident take on the market rate for positions you're hiring for.