How do you react when a star performer hands in their resignation notice? Extending a counter-offer can seem like a logical solution, but it can also be a knee-jerk reaction which provides a costly and short-term answer to a deeper issue.
Hiring within the competitive Swiss banking and financial services sector means providing attractive salary packages and perks for valuable and skilled employees, but this may still not be enough to keep your best people. For the majority of the time, counter-offers simply act as a ‘quick fix’ which is delaying the inevitable.
Ambitious employees may be looking for growth and career opportunities or a position which offers perks such as flexible working. Even when a counter-offer is accepted, it is likely employees will leave within a few months of accepting when underlying issues are not addressed.
This resource covers the reasons why you should think twice before extending a counter-offer, and why they are ultimately a waste of time and money.