‘I WANT YOU BACK!’ Counteroffers Likely for Valued Employees.

A new survey shows many businesses are apt to turn on the charm — and pull open the purse strings — when good employees threaten to leave for another. Sixty-three percent of advertising and marketing executives polled said they would likely extend a counteroffer if a prized staff member quit to accept a more lucrative position.

The survey was developed by The Creative Group, a specialized staffing service that provides marketing, advertising, creative and web professionals on a project basis. It was conducted by an independent research firm and includes 250 responses — 125 from advertising executives with the nation’s 1,000 largest advertising agencies and 125 from senior marketing executives with the nation’s 1,000 largest companies.

Those surveyed were asked, “If a high-performing employee quit to accept a more lucrative job offer, how likely is it that you would make a counteroffer?” Their responses:

Very likely……………………. 25%
Somewhat likely………………… 38%
Not very likely………………… 24%
Not at all likely………………. 11%
Other/don’t know……………….. 2%
……………………………… 100%

“The demand for talent has risen as companies invest more heavily in their marketing strategies,” said Tracey Turner, executive director of The Creative Group. “As a result, businesses are striving to retain their best people, and creative professionals have more leverage in terms of compensation.”

Turner advised employees to think carefully before accepting counteroffers. “Professionals should consider all of the factors that prompted them to seek other positions; the decision often involves more than money. If the new job provides greater growth or advancement opportunities, accepting it may be a better long-term career move.”

Turner provided the following factors to consider when a counteroffer is extended:

— The rationale. Have you been asked to stay because your firm will be in a pinch if you leave? Ensure the counteroffer is being extended because of the value you bring to the team, not to prevent you from leaving the company in a lurch.

— The work. A new salary or title won’t compensate for a lack of interesting assignments. If your career has hit an impasse, get assurance that you’ll be provided greater challenge, not just better pay.

— The future outlook. Have your previous requests for promotions or raises been denied? The best employers promote from within and compensate fairly on an ongoing basis, not just when they are forced to do so by circumstance. If you have to give notice to earn a salary adjustment, you may be better off elsewhere.

For more information at http://www.creativegroup.com