The best employees carry value that simply cannot be replaced by another. In today’s highly competitive market, employers should amend their plan for keeping talented employees who are offered new roles outside the business.
- Understand their motivation
Try to find out why the employee wants to leave your business by asking questions about their life and priorities. Their decision may be based on practical or personal reasons. Not knowing exactly what the issue is will make it much harder for an employer to counter the opportunity.
- Offer what they want
If an employee wants more money (and you’re willing to pay) offer them more money. If they would like more responsibilities, give them more responsibilities. Employers who are willing to exceed the employee’s offer from elsewhere should do so.
- Don’t become emotionally invested
Putting too much energy into keeping the employee can result in irritation or resentment later on. If you make your best offer, stick to it.
- Create performance incentives
The majority of employees who accept counter offers leave the business within six months. Make sure you create a performance incentive that will last, such as giving them a bonus after 12 months when they meet certain criteria.
When an employee decides to leave, employers should remain calm and wish them well. Remember that hiring a new employee as their replacement is an opportunity to bring fresh and innovative new ideas to the table.