How to make a winning counter-offer to resigning employees

Did you know that over 92% of employees* would consider leaving their current job if they were headhunted for a role? Competition for talent is high, making it more important than ever to retain your top employees. Here we explore how employers can make a convincing counter-offer to colleagues in danger of departing:

*Talos360’s Employee Expectations Survey

How to make a great counter-offer to employees & candidates

Nobody wants a valued employee to leave the fold. However, as an active employer, you’re bound to receive your fair share of resignations as time goes by. 

Here’s how you can make a winning counter-offer to departing employees, encouraging them to stay with your company for the long run.

1- Find out why they’re resigning

Find out what has led to your employee making the decision to resign. What does the new role offer that their current position doesn’t? 

While some employees may leave their roles in search of a ‘new adventure’, the vast majority resign due to situational factors. If you can identify your employee’s reasons for leaving your company, you can lay the foundations for a compelling counter-offer.

2- Establish what they love/hate about their role

Go into detail – find out which specific aspects employees love/hate about their role. Have they recently taken on new responsibilities? Has their role changed in nature since they first started?

Some employees may be hesitant to approach you if they lose interest in their roles, simply looking for other opportunities instead. Find out where your employee’s skills are most suited, and base your counter-offer on maximum job role satisfaction.

3- Don’t match their new job offer – exceed it!

If employees have already been offered a new role, you’ll need to do much more than simply match the offer in question. Work out what your company can offer ahead of the alternative employer, and use this to build a competitive counter-offer. 

This may relate to salary, responsibilities, seniority, career development, or even workplace benefits! Consider where the employee’s new offer exceeds their current role – how can you make your counter-offer the more desirable option?

Discover your Workplace Value Proposition (WVP)

How to prevent employees from leaving your business

While counter-offers can be an effective way to dissuade employees from departing, it’s much more effective to prevent such resignations in the first place.

Here’s how you can reduce the risk of employee resignations by making your workplace the most desirable option:

1- Facilitate development and progression

Employees are rarely happy in a stagnant job role; everyone has aims and ideals for how their career should progress.

Ensure your employees are offered the support and opportunity to progress within their roles, and broaden their career prospects. This may include training, learning opportunities, internal promotions, and regular progress reviews.

2- Identify and meet their expectations

Your employees’ expectations are a force that changes with time. Stay ahead of the curve – survey your employees regularly to find out how you could better meet their wants and needs.

This is where your Employee Value Proposition (EVP) comes in – the collection of values and incentives given to your colleagues in return for their hard work. Regularly review your employee benefits package to ensure it remains aligned with the expectations of your workforce.

If your employees’ wants and needs are not met, they will likely begin to look for alternative opportunities. Prevent future resignations by offering more than your job market competitors.

3- Hold regular career reviews to identify problems early

The best way to retain employees is to identify engagement problems early on. This means holding regular 1:1s and career reviews with your colleagues to assess their job satisfaction, and address any issues.

Check in with employees as often as you can; monthly/quarterly reviews ensure you never fall short of their expectations. Identify any challenges they may be facing, and offer the support they need to overcome these. 

Always leave room for negotiation – especially when it comes to salary/career progression requests. Never apply a blanket ‘no’ in these situations; always listen to your employees’ expectations, and work to find a solution that suits both parties. 

Introducing…

Talos Engage: Inspire, motivate, and retain your employees

Want an easier way to retain your strongest employees? Introducing Talos Engage – the ultimate solution for identifying your employees’ wants, needs, and expectations!

Talos Engage is our gamified solution to employee engagement, ensuring you’re always able to meet the changing expectations of your workforce.

Easily gain employees’ feedback

Employees simply play the Engage swipe-card game to give insightful feedback on various workplace values and incentives.

This makes it easy to gather the true opinions of your workforce, without the need for lengthy surveys and data analysis.

Results are automatically formulated into a straightforward report, showing you the main successes and potential drawbacks of your workplace model. 

Gamified EVP analysis 

Talos Engage makes EVP analysis easy, turning the process into a quick and easy mobile game. 

Each time employees play Engage, you’ll gain new insights into their wants, needs, and expectations – helping you to build an EVP that truly resonates.

Don’t put employee retention down to chance – motivate, inspire, and engage your colleagues with Talos: