Staff wooed to stay rarely do for long
LEAVING your employer is a big decision, but sometimes the employer makes an even bigger decision and makes a counteroffer — about half the time, says a Hays survey. But 80 per cent of the counter offers prove fruitless, with employees receiving them still choosing to leave the company within 12 months. The survey of 1700 employers shows 30 per cent of the employees leave as planned in spite of the counter offer, 42 per cent in less than three months after the offer and about 8 per cent stay on for more than three months but less than a year.
Only 20 per cent of find the offer attractive enough to continue to stay for more than a year.
Making counter-offers is rarely good retention strategy, says Hays director Grahame Doyle. ‘‘ The employee already has several other offers on the table. They’ve applied for and seriously considered other vacancies, so their decision to leave the company was made long ago.
‘‘ Unless the issues are addressed the employee is likely to still seeks a better offer elsewhere.’’