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Firms offering hefty counteroffers to retain staff, but it's not turning out to be a win-win

Firms offering hefty counteroffers to retain staff, but it's not turning out to be a win-win
Agencies

Companies positioned lower than the market benchmarks of compensation, who know that people are leaving on account of money, have a counteroffer strategy to curb attrition, especially in roles where talent is hard to come by.

Synopsis

Counteroffers are not turning out to be the win-win that they were perceived to be. Companies are discovering that employees may leave the organisation even after taking the counteroffers. So, while the risk of losing the employee continues, the morale of existing performers takes a beating.

By & , ET Bureau
5 mins read,
To give a counteroffer to the employee who has just resigned or not? As the great resignation wave sweeps sectors like tech and ecommerce, companies are beginning to rethink the practice of wooing their exiting employees back with hefty counteroffers, say top HR and hiring experts. For the past year, counteroffers have been ubiquitous across booming sectors. Why the rethink? Counteroffers are not turning out to be the win-win that they were

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