Counter Offers in Accountancy & Finance Jobs
In the past three months we have seen a huge increase in counter offers presented to candidates upon handing in their notice. Of course, there are lots of reasons for this and they can be confusing for people once they have made their mind up to leave their current employer.
Here in Dublin, one of the main reasons that counter offers are made is the difficulty in re-filling the position once a company has lost an employee. Often employers become complacent and have not ensured that each member of their team is happy and satisfied in their role. Frequently, discussions about career progression take place once a year in an appraisal and then not again for 12 months.
On this basis, once a candidate has handed in their notice, employers often panic and make a counter offer without really thinking through what this means for them, their team and the individual involved. This approach can result in promises not coming to fruition. Our latest market insight report found that 50% of finance professionals that received a counter offer decided to stay however, in our experience, around 75% of people that accept a counter offer are looking for a new role again within six months. Our salary survey also found that 38% of professionals working in finance and accountancy would expect an 11% to 20% as a counter offer.
More often than not, moving on is the best thing for the candidate and for the employer. The candidate is able to progress in their career and the business is able to freshen up their team by promoting internally and also consider bringing in external talent with new ideas.
Here at Marks Sattin, we are experts in providing advice on your finance career, the market and where your current skill set can take you as well as talking you through the interview process so please don’t hesitate to get in touch.
We also have some handy guides providing advice including how to handle resignation, finance CV tips and interview guidance which you will find in our Knowledge Hub.
