SHRM reported that in April 2021, 4 million employees (2.7% of workers in America) quit their jobs and that the US is seeing record turnover. 25% of employees plan to leave their job in 2021, according to SHRM. According to SHRM, 36% of those changing jobs are doing so for better compensation.
The war for talent is real and almost every employer in the country is desperate to find and keep qualified and competent employees. Ghosting is common and many recruiters are scheduling twice as many candidates for in person interviews, in an effort to have a full slate of candidates.
This week, Kelly and Steve discuss counter offers and the pros and cons of such a practice. Kelly makes an excellent point that, in her opinion, a salary offer should be non-negotiable, to establish credibility as an employer. This requires organizations to have a well thought out, researched, structured and constantly updated compensation plan. Otherwise, that firm, non-negotiable offer will not be competitive and you risk losing the candidate. When an organization makes counter offers to new hires, or to retain employees who submit their resignations, they should do so judiciously, since it could be training potential and current employees that this is the organizations standard operating procedure.
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