If you’re losing an important employee to a competitor or other circumstance, then you may be wondering if you can do anything to stop them.
Well, there are a few tried and tested tactics you can rely on to keep them on your payroll.
Some employees may use a new opportunity to create a counter offer situation, or they may not be expecting it from you.
Either way, it’s good business practice to have a plan of action in the event of an unexpected resignation letter (you can also check out our guide on employee retention to help you further).
When an employee resigns
There are many common scenarios for losing a staff member in the modern business world.
Even a member of your team who isn’t looking for a new role may suddenly be poached by an opportunistic rival. They can offer incentives for them to leave, such as:
- A higher wage.
- A better work-life balance.
- Annual wage bonuses.
- Flexible work schedules.
A job counter offer is exactly what can trigger off a resignation. Employers are increasingly tempted to try and woo candidates not looking for work over to their business.
And it’s at this point you may want to consider a counter offer after resignation to make sure you stop them in their tracks.
So, let’s take a look at what that all involves.
Mistakes to avoid
First off, while it can be a great idea to go ahead and make a new offer, just be aware there are some problems you can run into.
As such, here are a number you’ll want to avoid if you want to increase your chances of keeping your employee:
- Consider your budget carefully: Don’t consider whatever new salary offer they have and then go above and beyond it. Is it within your budget to manage that? You should also avoid simply adding a few thousands onto the current wage—especially if it falls way short of their new offer.
- Avoid making it entirely about money: Of course, financial reward isn’t always the main incentive for an employee leaving. Consider why this person is moving on and make a realistic proposal, such as offering perks like remote working days.
- Don’t take things personally: If you make counter offer after resignation, don’t take it personally if the employee turns it down. It’s part of business life and unfortunately these things happen. Instead, turn your focus to hiring a talented replacement.
- Failing to make discussions confidential: If your employee spills the beans to colleagues about your offer, then this may upset other staff members. Make sure you keep all of your negotiations private and confidential to avoid this fate.
*It’s worth noting, the Equality Act 2010 outlines that it is unlawful to prevent employees from disclosing a difference in salary if they are trying to ascertain whether an equal pay issue between male and female workers exists.
Salary counter offer letter
Before accepting a counter offer from their current employer, you can send your employee a job counter offer letter.
Even if the employee has already accepted the new role, there’s still a chance you can win back your former employee.
Many businesses look for an employer counter offer letter sample during this time, but if you take the above mistakes in mind you can focus on something a lot stronger than a counter offer of a new job salary.
A typical salary negotiation offer letter sample will focus on:
- Reaching out to a staff member to acknowledge they were making a much-appreciated contribution to your business.
- Stating that you’re sad to see they’re looking to move on.
- Making your counter offer—consider all of the points raised in this article to advance it beyond being simply about a pay rise.
- Indicate that you’d be happy to discuss the situation with them in a one-to-one confidential meeting.
After this, you can only wait for their response. If they turn you down you may want to try again with some advances on your previous offer.
But you should also realise that, no matter what you do, some employees will simply want to move on for a variety of reasons.
Perhaps they want a new challenge, location, or there’s a family or relationship reason.
You shouldn’t be too disappointed. Instead, turn your attention back to your recruitment strategy to bring in a suitable replacement.
Need more assistance?
We can guide you through the complex world of counter offer jobs. Get in touch today for industry-leading advice: 0800 783 2806.