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Risks of Counteroffers for Employers

Julie Godshall Brown sheds some light on one of the most talked about trends we’re seeing today–counteroffers from employers.
Offering an employee a counteroffer after they have already found employment elsewhere can be a slippery slope. Here are some things to consider:
#1. Rumors spread fast: Co-workers talk to each other. You’ll need to carefully consider the risk of offering one employee more money. More may follow soon.
#2. It’s not always about the money: Research shows us that money is rarely the only reason that someone leaves their position at a company.
Godshall’s advice:
We suggest letting that employee move on with their new employer. Instead of offering more money, focus on the company’s compensation and benefit structure to make sure that it is aligned with today’s market. Make changes if needed. This will ensure that all current employees are properly compensated, and the company can now interest new talent.
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