It is all too common for counter offers to be made in a world where supply chain talent is fiercely competitive, which can often affect companies when looking to recruit new talent. There are three key factors that businesses need to consider when hiring to minimise counter offers from other organisations:
1. Transparent communication
Maintain open and transparent communication with candidates from the beginning of the process, and discuss compensation expectations early to ensure alignment and avoid surprises at the offer stage, as delays and frustrations can lead to counter offers becoming more tempting. Before extending an offer, enquiring about any potential counter offer scenarios can also help to address candidatesโ concerns or doubts, and overcome objections.
2. Focus on the bigger picture
Itโs important to focus on more than the immediate job offer throughout the hiring process; selling your entire company is essential. By showcasing company culture and long-term career prospects, you can make your offer more appealing and considerably neutralise the threat of counter offers. As our survey results highlighted, many professionals prioritise job satisfaction, growth potential, and alignment with a companyโs values just as much as immediate compensation.
3. Make offers final and best
Itโs crucial to present competitive compensation packages right from the start, so when you make an offer, ensure it is best and final. Research salary benchmarks and expected benefits for the position youโre hiring beforehand, but consider the candidateโs experience, skills, and qualifications when determining the final offer. Be prepared to pay above the market rate if the candidate has unique skills that are in particularly high demand.
Do you have hiring requirements?
Here at DSJ Global, we understand that attracting and selecting the right talent for your business can be a difficult task. That's where DSJ Global can help, simply request a call back today and we will cater for your hiring needs in the supply chain industry.