Counter Offers - they're back!

With job market conditions rapidly catching up with pre-recession levels of demand, we’ve seen a steady increase in the number of counter offers being used as a means to try to retain staff who’ve secured an offer elsewhere and tendered their notice.

As demand for staff rises, availability drops, and with employers focused on making the most of the economic recovery, retaining experienced staff is high on the agenda.

Good news for employees, not so good news for recruiters who, having invested a significant amount of time managing the process to this stage, can then experience last minute drop-outs from jobseekers who are persuaded to stay. A quick search online will throw up dozens of blogs and articles about counter offers, usually written by recruiters, quoting unsubstantiated statistics on the number of people who end up leaving their employer six to nine months after accepting an offer (usually between 80-95% - take your pick or, better still, read Mitch Sullivan's investigative blog on this subject). The overriding message being: don’t do it, take MY job!

There may well be a high proportion of individuals in this situation who do ultimately decide to move on after promises have been broken further down the line, but even so, unless there is a history from the individuals’ specific employer/line manager, I’m not sure this is relevant enough information to be basing important career decisions on.

For me, when a jobseeker decides to accept a counter offer, what this really tells me is that:

a) the other opportunity wasn’t good enough in the first place, or 

b) the candidate never really wanted to leave their employer, they just wanted better reward and commitment from them. Maybe they’ve discussed this with their manager and it’s fallen on deaf ears, or maybe they just feel this is the best way to force their hand?

I do however believe there is some truth in the often-stated claim that going through a counter offer process breaks a level of trust with an employer, especially if the employee had not raised any dissatisfaction previously. I also believe financial boosts alone are short term solutions that will often reoccur when the employees next salary review takes in to account the unplanned increase that’s already taken place.

From the employers perspective it’s also far from ideal. How will this affect the employees trust and buy-in to the business when it’s had to get to this stage? You can be sure at least one of their close colleagues will be aware of the situation and may now decide to go through a similar process themselves to increase their financial position.

In an ideal world, counter offers would never need to happen. Employers would regularly assess the ability, value and career aspirations of their staff and employees would have the confidence and opportunity to discuss any issues and frustrations openly. Jobseekers would only reach offer stage for positions they know they would be willing to leave their current employer for, and then, and only then, recruiters might then stop quoting those tired old statistics.

Procurement Guest Blog: Apples with Apples

A guest blog today from my colleague Craig Williams. Craig is a Senior Consultant within Balance Recruitment, joining us last year to set up our Procurement Division. He’s had a very hectic and successful start to life at Balance, which is covered here in his first guest blog:

Apples with Apples

Having returned from a sabbatical overseas last year – which saw me taking a cargo ship from London to Buenos Aires and from there, travelling through South America and then over to SE Asia (this time flying!) I returned to London ready to re-enter the niche recruitment sector of Procurement & Supply Chain and joined Balance to set up the division, complimenting their existing presence within accountancy & finance.

A year down the line and these are my thoughts so far…

Having once been told that Procurement, from a recruitment point of view, is relatively straight-forward and having spent a number of years recruiting for senior accounting positions in London, I was looking forward to the challenge of exploring this new and important business area, a business function rapidly coming to the fore due to the straitened times we are currently experiencing throughout the globe.

I had the benefit of already knowing a fairly large network of well regarded procurement professionals personally and through my connections in finance, all of whom were more than happy to talk through what they do – the knowledge share would cost me a glass of wine or two, though being a fan of good wine I felt that was a good exchange! One friend, when summarising what Procurement professionals actually do, rather succinctly commented that ‘…in a nutshell we compare apples with apples and we buy stuff…’.

Having dealt with finance for so long, a market well furnished with specialist recruitment consultants, I was pleasantly surprised to find that procurement professionals were much more open to spending time with me discussing their profession – being recognised as a potential supplier to an organisation certainly helped open doors during my initial few months and I quickly found myself working on several mandates for a well-known technology business. I was quickly able to fill three out of five of the roles given to me - a great boost to my confidence whilst developing my understanding of this new sector.

However, many of the roles I have subsequently been working on have been challenging and far from straight-forward! A high profile IT Category Manager position I was instructed on late last year required an extremely rare beast, though through persistent searching and networking with existing contacts, I was able to track down the elusive individual my client was hoping to find, and placed them in to an interesting ongoing interim assignment. There’s no better way to build strong relationships with clients than by placing these difficult to fill roles that other recruiters have long given up on.

Before long I was running several mandates, working with new and existing Balance Recruitment clients; for example an Interim HR/Professional Services Category Managers for a global media business – the remit being to shape their global contingent workforce, a great opportunity for the right person who would essentially be in the spotlight – not just here in London but also within their New York headquarters. I’ve also had the opportunity to partner with Global law firms, large engineering businesses and transport organisations all bringing fresh challenges and increasing my knowledge of the Procurement profession day by day. During each piece of recruitment I’ve met with some amazing practitioners along the way, building a large network of professionals across a variety of industries.

So it’s “so far so good” and I’m thoroughly enjoying my role establishing Balance as high quality recruiter for Procurement staff.

Apple anyone?

Is January a good time to search for a new job?

There’s a simple answer to this question: Yes

However, there’s also a longer answer which is: Yes, and so is February, March, April etc… through to (and including) December

Common belief is that the best time of year to be looking for a new job is after the New Year, when people have resolutions to uphold and the job market kicks off after a lull. ‘New Year, New Career’ is a corny cliché that will be trumpeted by recruiters up and down the land in January. I’d agree that this is definitely a good time to look, but in reality, with the exception of the week either side of Christmas, I don’t believe there’s ever really a bad time to be looking.

There will be some disciplines and industries that have well defined seasonal peaks and troughs, but if you work in a core business support or operational function such as Accounting, Marketing, HR, IT or suchlike, the majority of employers manage to keep you busy all year round, and therefore if you decide to find a new job elsewhere, to immigrate or retire, they’re going to need to replace you fairly quickly.

In a niche market, certain roles will from time to time have unpredictable surges of activity in the job market. For example, if just two or three Chief Legal Cashier vacancies arise in close proximity, this area will likely see a flurry of activity for a few months whilst people move around the industry leaving vacancies behind them. This could happen at any time during the year.

Generally, if you have reached the point where you feel you need to start looking for new opportunities, right then is your best time to start the search, regardless of what month we are in. Your ideal next job can arise at any given time, but if you’re not looking because you’re waiting for a perceived busy period, you might never even know about it.  Even better still is to establish contact with an experienced recruiter who knows your specialist area and who can help to identify your next step on the career ladder even before you've started to look.

Do you agree, or do your experiences suggest otherwise? Please share your comments below. 

What to do if recruiters don't seem to be helping you?

Firstly, I want to start this blog by stressing that it’s in every recruiter’s interest to help a job seeker secure new employment. If there is a reasonable chance they can help, they will certainly try to do so. 

There are however plenty of instances where a recruiter feels they are unable to assist. This could be for a number of reasons; some perfectly logical, and some based on the recruiters own instincts. 

They may for example concentrate on permanent vacancies and struggle to secure interviews for individuals with a series of temporary placements over a number of years (logical). Or they may just feel they have met with several other individuals with similar experience who they feel would be more likely to be of interest to their clients (instinct).

So what do you do when you find yourself in a position where the recruiters who hold the vacancies you are interested in don’t seem able to able or willing to help you? 

Firstly, you need to assess whether it’s just the market conditions that are the hold up (perfectly likely over the last few years). If not, you need to get some honest feedback from them. It may be that you’re being unrealistic in the opportunities you are applying for (lacking suitable skills & experience, being overqualified, being too expensive etc), or it may be for reasons an inexperienced recruiter is a little uncomfortable raising with you (e.g. poor grammar on written communications with them, concern over interpersonal skills, your approach, etc). Try to find out the issue and in some circumstances, be willing to take on constructive feedback.

Whatever it may be, it’s never personal and can be invaluable feedback to take on board. Remember that a recruiter has every incentive to place you with their clients and will want to do so if they can. If you can take their feedback and use it, it’s likely to have a positive impact on your career prospects.

It may mean having to reassess your career expectations, even if only for the short term. If several recruiters have fed back to you that you don’t have the level or type of experience required for the move you want to make, they could be on to something. In this circumstance, can they give some advice on how to address this or keep you posted on stepping stone opportunities that can get you there? 

If you find that you’re still banging your head against a brick wall and getting nowhere with your job search through recruiters, you may experience more success applying for roles directly with employers. Work out which firms you’d like to work for and add the ‘Careers’ page of their website in to a ‘job search’ folder on your internet browser. Check the sites weekly to see if any new suitable positions have become available. 

A bit of networking (real life and social) could also strike gold. Speak to your network of contacts and former colleagues to ensure they know you’re looking for a move. Make sure you have a professional online profile, by setting up an account on LinkedIn and update it frequently.