There is no doubt about it. The job is market healthier than it’s been in years and hiring is HOT. You are likely feeling the pressure to wine, dine, and roll out the red carpet for the best talent you can find out there.
But while your company is out there, hyper-focused on scouting and recruiting fresh, new, top talent, are you overlooking the players you already have on the team?
You very well might be, until your “most loyal” employee catches you off guard with her two-week’s notice. Then you start scrambling to give her whatever she wants…more money, title promotion, flex/work-from home days, more vacation, a new boss, a new client. Whatever it is, you need to give it to her because you can’t live without her – she’s a reliable key-player!
And then you realize, you are too little, too late.
Most savvy candidates are fully aware of the no-no’s of accepting counteroffers. Just plug the term into any search engine and you’ll find a plethora of articles, posts and resources advising against them.
Perhaps you should’ve given her a pre-counteroffer when you had the chance.
Yep, that’s right. An “I’m a step ahead of your future offer” move that’s so great, they wouldn’t need to entertain the idea of leaving in the first place. For example…did you put them on a path to reach their career goals, discuss their wants/needs during their last review, or present creative ways to keep them challenged, interested and enthusiastic? Did you truly reward them for their excellent work and loyalty to the company? Did you invest in them, proactively?
According to Gallup, only 33% of employees are engaged in their work, and more than half of all employees (51%) “are actively looking for a new job or watching for openings”
If you have been resting on your laurels with your current fantastic team and assuming (or hoping) that they’ll just stay forever because they are loyal, appear to be happy, or are compensated “well enough,” think again. It might be time to reassess your retention strategies.
Don’t wait for them to come to you with a resignation letter. Get out in front of it.
Frankly Speaking: Don’t wait until it’s too late. Of course, we can’t always prevent employees from moving on and taking new opportunities. Sometimes we just aren’t equipped to offer them what they need to excel, catapult forward, or to feel fulfilled on their own paths. But, by staying ahead of the game and being more supportive of and in-tune with their needs and interests, we can, at the very least, give it our best shot.
updated from 2015