As the economy picks up and more jobs come available, people are going to start resigning. With that, employers are going to counter offer. I say – Don’t do it!
Here are the facts;
over 80% of people who accept a counter offer cease to remain at that company after 6 months. WOW
54% of your current staff are looking for a new job – seriously they are. As soon as the market gains some strength they are shopping their resume.
So get ready to start countering – or not. As is the tone of many of my articles, I suggest getting pro-active. Talk to you employees and listen to their concerns, make changes and recognize their input. When it comes to wages – start handing our raises now. Don’t wait until someone resigns and give them the ol’ “we had just discussed you in our meeting and were planning on giving you a raise.” Most importantly, don’t punish top performers for the performance of the company.
You know what I mean. The company may not have made much or any money at all but now is the time to asses where the money you did make came from. Find out who did exceeded expectation or budget and reward them. Nothing is more demoralizing than not getting a raise, bonus or even recognition for being the diamond in the rough of a bad year. These are the 54% that are looking, not the under performers. Your best people if not recognized in some way will be your first to go.
Times have been and are tough, but it is time to change the mind set and manage a growing business rather than a business in survival mode. Money spent now will equal money saved in the very near future on advertising, interviewing, hiring and training.