Have you found the ideal candidate only to lose them to a counteroffer? If the answer is yes, you’ll know how painful an experience this is. After all, certain characteristics and expertise are extremely hard to find. So, when you do find ‘the one,’ you’ll want to do whatever it takes to keep them.
Below are a few tips to help you avoid losing that rockstar candidate to a counteroffer.
Tips to avoid losing candidates to counteroffers
1. Anticipate a counteroffer
Always be prepared for the chance of a counteroffer, whether it comes from the existing employer or a competitor. A counteroffer is most likely inevitable. Therefore, it’s essential to get your troops in order to be prepared to battle the offer and counter the counteroffer. As Greg Savage advises, “don’t make any assumptions!”
One way you can do this is by diving into the candidate’s mindset to uncover
· Why they are leaving their current employer.
· What they are looking for from the new opportunity.
· The core driving factors behind their decision-making.
· Are they likely to accept a counteroffer from their existing employer?
The best way to anticipate and get the information you need is, during their job interview, by asking strategic questions such as whether they are interviewing elsewhere and are they likely to stay on at the current organisation should a counteroffer be presented.
2. Speed up your hiring process
There’s nothing worse than losing the dream candidate to a counteroffer because your competitor beats you to the punch when it comes to hiring.
To avoid such scenarios, look to simplify and speed up your hiring process. This is where DukeMed’s Talent dashboard comes in handy. Through this, you can
· View a shortlist of candidate videos, resumes, salary info, notice period, references, plus any other documents you want us to include, ready for review.
· Know, in advance, which candidates have other interviews or feature as the standout applicant aka, "Recruiters Pick.”
· You and your team can interact with our shortlist with likes, comments, call back, and interview requests.
· Keep your interview process moving efficiently and accurately.
To top it off, by using our digital referencing system, you no longer have to send out numerous emails, make several phone calls and wait for weeks to get a reference. Vitay’s mobile-friendly platform allows us to request references within 60 seconds and receive feedback within 24 hours.
3. Put the best offer forward
Before you place an offer on the table, ensure you do your research. See what the current market rates are. Scope out the competitive landscape to see where your salary offering, and benefits package sits within the rest of the industry.
4. Sell the company culture and benefits
Don’t underestimate the power of sales when it comes to recruiting the best talent. This is your opportunity to shine as an organisation.
· Focus on the strengths and benefits you offer as an organisation and a department.
· Rally in the positive reviews from existing staff through online testimonials. These are crucial to your branding. “According to a study by Randstad USA, 57% of job candidates avoid companies with negative online reviews.”
· Talk about the career progression opportunities and offer examples. Better still, offer a one-on-one with a long-serving staff member who has grown with the company.
· Don’t forget to sell yourself. By this, I mean, record a video of yourself as “the future boss” welcoming them and giving the candidate to get a feel for your personality. This can be done both pre and post interview. After all, there’s nothing better than a personal connection and getting to know your future boss.
Start hiring better and faster with DukeMed
Are you currently on the hunt for the perfect candidate?
Let DukeMed make the recruitment process easy and breezy for you.
Give me a call on +61279121168 or book a free briefing session through Calendly to share what you’re looking for, and we’ll work together with you to help you hire better and hire faster.
