Survey Finds Most CFOs Don’t Extend Counteroffers
TORONTO, June 9, 2015 /CNW/ – Although employee retention concerns continue to mount, research suggests counteroffers aren’t the answer when it comes to keeping the best and brightest. In a recent survey from global staffing firm Robert Half, nine in 10 (92 per cent) chief financial officers (CFOs) said they don’t extend counteroffers to keep employees from leaving.
The survey was developed by Robert Half, the world’s first and largest specialized staffing firm, and conducted by an independent research firm. It is based on interviews with more than 270 CFOs at Canadian companies.
CFOs were asked, “Do you ever extend counteroffers to employees to keep them from leaving for another job?” Their responses:
“Counteroffers are not the answer to preventing employees from leaving,” said Greg Scileppi, president of Robert Half, International Staffing Operations. “Often, issues that prompt a resignation go beyond matters of money, and there is no guarantee that offering more financially will fix the root of the problem. As well, increasing the salary of one employee may set a precedent among other team members, creating an atmosphere of resentment and encouraging the notion that threats of resignation are the only way to see a raise.”
Scileppi added, “Employee engagement is critical to retention, and workers need to know that their employer is concerned about their wellbeing beyond the bottom line. Managers should check in with their staff regularly to ensure they are getting the opportunities, support and training needed to succeed, which can ultimately result in employees feeling valued, respected and committed.”