The last thing any company official wants to hear is that one of their key executive leaders is resigning in favor of a better career opportunity. If the company is unprepared, making a counteroffer might seem like the only way to keep that executive and the best way to address the woes of a highly competitive candidate market. And they would hardly be alone in thinking so, according to a report just authored by Slayton Search Partners’ John Nimesheim.
During the search process, companies can protect themselves from losing top executives to counteroffers by making the candidate a compelling offer that is based on more than just financial compensation. “Instead of highlighting just the financial aspects, we advise our clients to also position the role in terms of how it will appeal to an executive looking for new challenges, the strategic growth of the person and how it will help that person attain their specific goals,” said Ms. Scheffer. “Showcasing the company in terms of culture, values and brand will also help the candidate see the fit or alignment with that company.”
John K. Anderson, managing director at Allegis Partners, said that avoiding counter offers with candidates starts with trust. “Trust with me, and trust that candidates build with my clients through the interview/recruiting process. If we do that right, we lessen the chance of a bidding war,” he said.