Proof That Counteroffers Work

Border Image
Proof That Counteroffers Work
David Banaghan
3 minute read
Employee Retention

During this study we ran an opinion poll on what three things keep employees happy...

  1. Fair remuneration
  2. Recognition
  3. Flexibility

Although many other factors were ranked as important in contributing to job satisfaction, including work life balance, work culture and environment, the report indicated that 36% of respondents believe that fair remuneration, recognition and flexibility are the key elements in employee happiness. Training, support and career progression were also rated significant, whereas, transparency, trust and compassion received the lowest score with just 3%. 

INSERT-CTA

The report also indicated that employees are changing jobs more frequently with the average time spent in a job at two years. Statistics suggest that employees in low skilled and junior roles tend to stay in a job for one year or less whereas senior and management roles average around four years.

The frequency with which employees are changing jobs is supported by the noted increase in employee turnover, up 8% compared to the national average which is 13%. Notably, 85% of respondents felt that more could be done within the company to retain employees. 

do counter offers work

It was found that 10% of respondents conduct employee appraisals three times a year or more. The majority, at 56%, conduct appraisals once a year and 24% exactly twice a year. 10% were found to not conduct employee appraisals.

One of the biggest areas of contention was the question around counteroffers and whether the use of a counteroffer is practical or counterproductive. Largely throughout the study the result was very even and teetered between yes and no.

The final result, 52% agree that counteroffers do work. Notably, retention rates were higher in the companies that endorsed counteroffers.

Summary Points

Get the latest HR updates sent straight to your inbox
Something went wrong while submitting the form. Please try again or refresh the page and try again.
Border Image

You might also like...

More blogs
Border Image
Occupop is an all-in-one HR recruitment software solution that simplifies the hiring process, making it easy to attract the best talent & manage candidates.
Job Posting Engine
Job Posting Engine
With one click, post your job to multiple free, discounted and premium job boards.
Talent Pools
Talent Pools
Seamlessly track candidates through our database and candidate tagging features.
Smart Screening
Smart Screening
Custom application forms with smart questions and A.I. powered CV screening.
Candidate Automation
Candidate Automation
Streamline the entire hiring process with interview scheduling and email templates.
Team Collaboration
Team Collaboration
Communicate easily through hiring manager review and interview scorecards.
Analytics
Analytics
Take control of your hiring process with real-time reports, analytics and insights.
Border Image

Hiring can be easy.
Let us show you how.

Success!

We have received your details.
One of our team will be in touch to schedule a time for a demo.

Flip it!
Something went wrong while submitting the form.
Please try again or refresh the page and try again.

TRANSFORMING THE RECRUITMENT PROCESS AT
Border Image