Top Talent Aren’t Getting Just One Offer! Here Is How You Should Approach a Counteroffer

When hiring accounting and finance professionals, your choice candidates likely will receive counteroffers from their current managers. Because employers do not want to lose their best talent, many will provide incentives for their staff to stay with their team. This is why you need to proactively address the issue with your shortlisted candidates. Providing reasons why applicants should turn down counteroffers increases the odds of having your top candidate decide to join your team.

Follow these guidelines to encourage your top accounting and finance applicants not to accept a counteroffer from their current employer.

Reinforce Each Candidate’s Reasons for Leaving

Remind your top applicants why they decided to look for a new job in the first place. Most of the time, it has nothing to do with making more money. This is why accepting a pay increase through a counteroffer likely will not retain the employee long-term. If the staff member does not get along well with their manager, they are not being challenged in their work, or there is no room for advancement, the issue is likely to remain.

Question Whether Staying Would Make Things Change

Ask each of your shortlisted candidates whether anything would improve long-term if they remained with their current employer. In most cases, the applicants began seeking new jobs because they felt restricted or unappreciated. They may have been passed over for a promotion or not given other opportunities to grow. Although the candidates may have expressed their concerns to their manager, the issues likely went unaddressed. Odds are these problems will remain even if the applicants decide to accept a counteroffer.

Point Out the Job Insecurity of Staying

Remind your best talent that once they submit their resignation, they damage the relationship with their employer. Even if your candidates accept a counteroffer, things will remain tense at work. Their manager may wonder how loyal they really are and whether they would accept an even better offer if it came along. Their employer also may begin making plans to replace the employee as soon as possible. Or, if the company wants to eliminate positions, the team member who tried to resign likely will be let go first.

Are You Looking for Top Accounting and Finance Professionals?

When adding skilled accounting and finance professionals to your team, they are likely to receive counteroffers from their current employers. One of the best ways to discourage your potential team members from accepting these offers is by pointing out why they decided to leave their jobs in the first place. You also can ask whether things truly will change by staying. Plus, you can point out how insecure the potential hires’ jobs may be once their managers know they want to leave.

When you need to add top talent to your team, get in touch with Casey Accounting & Finance Resources. We have the skilled professionals you need to reach your business goals.

Hire for Passion or Experience? Why You Need to Look at the Candidate Experience from the Other Side of the Table

It’s a candidate-driven market, which means more emphasis is being placed on the experience of the job candidate during the hiring process. A CareerBuilder survey revealed that “82 percent of employers believe there is little or no negative impact to a company when a candidate has a bad experience during the hiring process.” But this is not the case. Employees who have had a negative experience will quickly move onto a competitor and they may not ever consider your company again. Since job candidates have most of the leverage in today’s job search process, a bad experience in the hiring process will eliminate your company from consideration of the top talent you want to add to your organization.

One way to evaluate the experience of candidates is by going into their shoes and looking at it from a different angle. How can your company accomplish this?

From time to time, put yourself through the candidate application process. Does it seem complicated or too time consuming to fill out the application? Did you get an acknowledgment that you applied? How long until you actually get asked for an interview? These are all aspects that need to be evaluated on a regular basis if you want to focus on a positive candidate experience.

It’s easy to think your process works when you don’t have to go through it every day. If you don’t want to audit the process on your own and want to get a fresh perspective, ask someone in your organization who doesn’t directly work with the job candidate experience. You also could ask trusted colleagues, friends or other connections for their honest feedback.

Evaluate whether your company has had better success with hiring for passion vs. experience. In the past, there have been hires that have done outstanding based on either factor. Now is the time to see how they are doing. Are the people who were hired for passion still as enthusiastic about their jobs? Did the people who brought a lot of industry knowledge to the workplace stick around? Consider the time you or your company had to invest in getting the passionate new hires up to speed to complete the job responsibilities. With the experienced job candidates, did they meet the cultural fit of your organization or did a resume-based hire fall flat?

Interviews can be a valuable source of information too. They are often the first contact that candidates have with your company. In today’s climate, candidates are very eager to share their experience on company review websites like Glassdoor, or even on Google or Facebook. How are candidates rating their experience with interviews? Are they being challenged by the interview process or is it too predictable? Do they get an accurate image of the organization to help them make the best decision possible if they receive a job offer from your company? Or are they still confused about the job duties, culture and other factors?

From the side of the table that candidates sit behind, they are evaluating your company every step of the way. Be sure that your hiring practices meet their expectations and approval by putting yourself in their shoes once in a while.

Casey Accounting & Finance Resources, leaders in financial staffing in Chicago, will recruit and provide the accounting and finance staff your company needs. Contact our award-winning team of recruiters today to get started on finding the top talent your organization wants to add.

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