4 Ways You Are Exposed To Counter Offer Risks

Counter offers are a recruiter’s worst nightmare.

You do all the work and you don’t get paid!

When it does happen, it hurts.

A lot.

Of course, however frustrating it is for you – it is always the candidate’s prerogative to choose whether or not they take a job.

So what’s the plan?

Option 1

Only work with candidates who are 100% not going to accept a counteroffer.

If you have enough of those mythical creatures – then congratulations.

Stop reading and get back to work you (about to become filthy rich) recruiting beast!

Option 2

For those in the real world, work to manage the risk.

Read on for top tips on how to assess and manage ‘counteroffer risk’.

4 Ways You May Be Exposing Yourself to Counteroffer Risks

You can’t stop companies from making counter-offers – but you can influence how a candidate will respond when an existing employer suddenly shows the candidate a lot more love and a little more cash.

Often Recruiters unwittingly expose themselves to the risk of counter offers being accepted.    The four most common roads to failure are…

1: YOU DON’T EXPECT A COUNTER OFFER:

2: YOU TAKE CANDIDATES AT THEIR WORD:

3: YOU COVER THE COUNTER OFFER BECAUSE YOUR MANAGER TELLS YOU TO.

4: YOU ASK CLOSED QUESTIONS – SEEKING ANSWERS YOU WANT.

Left unchecked,  any of these 4 areas of risk can increase the likelihood of a candidate accepting a counteroffer when it arises.

There is more detail on each of these in our Recruiter Hacksheet “Preventing Counter Offer Nightmares”

Proven Strategies to Mitigate Counter Offer Risk

There are proven ways that Recruiters can mitigate the Counteroffer risk.  Which of these could you start applying today?

1: EXPECT A COUNTER OFFER

Especially if you are approaching passive or semi-active candidates through Linkedin.

2: NEVER BELIEVE WHAT CANDIDATES SAY!

They know that giving you the answer you want will help them move forward.

(You need to get them to open up and share their real concerns.)

3: ASK OPEN QUESTIONS

Ask open questions to get the answers you don’t want to hear.

If you know where the risks are, you can address them.

There are no good surprises in recruitment!

4: KEEP TALKING

As you go through the recruitment process you can ask:

·       “What do you think of this job?”

·       “How would you feel in comparison to your boss offering £££ more?”

At second interview stage. “What do you like about this job? Why is it better than any other job that you could find internally?”

The more positive things the candidate has to say about an opportunity the less likely they are to accept a counteroffer.  The more negatives or compromises a candidate has to make the more likely they will be tempted by a counteroffer.

5: WORK WITH YOUR CLIENT TO ADDRESS REMAINING ISSUES

If you know where your candidate has doubts, you can discuss those areas with your client.

They may be able to address any issues directly.

How Do You Do This?

Every situation a recruiter finds themselves in is unique.  But, there are best practices that the most successful recruiters use to prevent counter offers from impacting their performance.

We have collected together best practices from across the industry and produced a Recruiter Hacksheet to help you prevent counter offers from ruining your performance!

We cover

  • The four ways recruiters expose themselves to counter offer risk
  • Proven strategies to prevent counter offer risk
  • A simple 5 step process to manage counter offer discussions
  • Questions Recruiters can use today to improve the quality of conversations they have with candidates

To get your copy of the Recruiter Hacksheet, just click here

Get example conversations, exercises you can try today and a stage by stage checklist of questions you can use to get actionable insights.

Don’t let counter offers ruin your month!

Free Playbook: How to Prevent Counter Offer Nightmares

About Alex Moyle

I have spent the last 14 years helping 000's of recruiters be better at what they do. My goal is to make recruitment simple. I love using analogies that connect a recruiters job with the things they have already experienced. Please comment or ask questions below, I try to answer everyone. To stay updated with our latest blogs and videos sign up below.