By Kevin Roth
A member of your team just handed in their resignation. Before you panic and scramble to put together a counter-offer, take a step back to better understand the circumstances.
Most people are well aware of the risks of ACCEPTING a counter-offer. If you’re not, make sure you watch Season 1 – Episode 11 of The Hunt!
What often goes overlooked are the risks of EXTENDING a counter-offer.
– How will the new salary throw off leveling within the team, especially if other employees find out?
– If they’re this close to being out the door, how likely is it that you’re really going to keep them long-term?
– Are there candidates on the market who would be a stronger fit for the role and more comfortable in the position?
Most companies subscribe blindly to the old adage that it’s less expensive to keep a current employee (even at an inflated salary) than to hire and train a new one. That may hold true from a financial perspective, but it does not take into account the qualitative factors that can have a much more significant long-term impact on you, your team and your company.
Look before you leap!