A poll conducted by Top Echelon Network showed a majority of recruiters have found that job candidates are receiving more counter-offers from companies as they accept offers from another company. Especially during a period of difficulty in hiring qualified candidates, companies are seeking more and more to secure talent by extending counter-offers to ensure new applicants and current employees choose to stay.
When asked “Are candidates currently receiving more in the way of counter-offers from companies than they were a year ago at this time?” 23 percent of polled recruiters stated that they are receiving “a lot” more. An additional 35 percent said candidates were receiving “a little more.” Combined, 58 percent of recruiters reported to an increase in counter-offers over a year ago. A further 35 percent said their candidates were receiving the same amount of offers. Only a combined 6.7 percent of recruiters reported their candidates receiving a little less or a lot less in regards to counter offers.
A phenomenon especially prevalent within industries already facing the crisis of scarce available talent, many companies refuse to rest on their laurels as their best employees and candidates are wooed away to other companies.
“High-quality employees and candidates are at a premium,” said Matt Deutsch, communications coordinator for Top Echelon. “The problem is that many managers are so overworked that they can’t give their top employees the attention they crave. That leads those employees to seek greener pastures. Once they accept another employment offer, then their managers are scrambling to keep them, and the only weapon at their disposal is a counter-offer. This trend is not surprising, and it should continue throughout the rest of this year and well into 2013.”