Five Counter Offer Mistakes Companies Usually Make
Employee Engagement, Employee Relations, Rewards and Recognition
The trickiest process of the entire process of employee negotiation is dealing with counter-offers. Preparing counter-offer is not just about retaining the right talents. Rather, it’s also about taking care of ongoing team rapports, employee engagements, and your brand’s overall reputation. A counter-offer loses its importance if it’s shrouded with the following mistakes –
- It’s wrong to Consider that Everything Depends on Money –It is an undeniable fact that money works as a major motivator for most of the employees in every corporate organization. However, the time has changed exponentially, so has the mindsets of the millennial employees. For them, money is no longer the ‘ultimate’ perk. Today, they put an emphasis not only on their pay-scales but also on several other perks, which come along with the job.
Workplace motivation is something that every modern employee ponders over for enjoying a peaceful work life. Before narrowing down at even the most lucrative job opportunity, they check whether they would gain optimum value out of the work.
This apart, the employees are also valuing various kinds of benefit packages as per their family or personal necessities. The significance of a benefits package will always differ from one person to another. But, most of the employees preferably seek full benefits packages.
- Taking Things on a Personal Ground is a Serious Sin –It’s not necessary that every employee has to accept a counter-offer wholeheartedly. They may dismiss the offer due to a plethora of reasons. Wondering what should you do if an employee is unwilling to take an offer? If an employee does not want to accept a counteroffer, then you should bow out with grace instead of burning his/her bridge.
Taking things on a personal ground should be avoided by every employer. Instead, value the individual employee’s decision of not granting a counter-offer. Make sure to let that employee understand that he/she was adequately valued in the organization.
Most importantly, when an employee decides to leave, an employer should end the departure process on a positive note. Even the least bit of animosity or hard feeling should not creep in a workplace scenario.
- Not Having a Transparent Conversation with the Employees - Many times, employees leave a job even after they receive a proper counter-offer. There are certainly some reasons why an employee does so. To understand what kind of thought he/she is up to, an employer should take help of a thorough discussion with that departing employee. The main motif of a lucid discussion is to identify the reasons behind an employees’ departure.
A through interaction should take place at the time of recruitment as well. Having a transparent conversation with an employee will help an employer reach the root of many issues, owing to which he/she might leave a job in the future. It’s one of the prime responsibilities of an employer to interact with every candidate thoroughly to check whether he/she has stability issues.
- Spilling Beans of Negotiations are Terribly Wrong- Any information that is related to a counter-offer negotiation is confidential and should be kept between the employer and an employee. When an employer spills the beans about an employee’s counteroffer, it might give rise to unnecessary workplace resentments.
If the information leaks back to anyone else from an organization, then things could get really complicated. In case any information related to an employee’s counter-offer negotiation gets leaked, an employer should immediately take an action to shut down the unnecessary buzz caused around the same.
- Discussing Necessities Rather than Talking About Values - It is a big mistake if an employee frames a counter-offer related negotiations according to his/her personal necessities only. It’s true that everyone is working to earn their livelihood and maintain a certain lifestyle, but this is not everything an employer should consider.
An employer should not just make the counteroffer only because an employee needs it. An employee’s counter-offer should reflect the overall work value he/she is offering the employer. The employer needs to pay an employee mainly because he/she would contribute to a company’s growth. So, instead of paying too much heed to an employee’s personal needs, an employer should emphasize more on a company’s values.
Every employer should refrain from committing the aforementioned mistakes to streamline the process of preparing counter-offers.