One in five marketing and ad executives (20%) say it has become more common in the past six months for their company to issue counteroffers to employees who have received other job offers, according to a recent report from The Creative Group.
That compares with just 5% of respondents who say counteroffers have become less common and 33% who say there has been no change.
However, over one-third of respondents (38%) say their company still does not extend counteroffers to employees who are thinking of leaving.
Below, additional key findings from the report, which was based on data from a survey of 400 US marketing and advertising executives.
- 39% of respondents say the main reason to issue a counteroffer is to avoid losing an employee with hard-to-find skills.
- 27% do not want to lose a tenured employee with knowledge of the company.
- 12% want to avoid the cost of turnover.
Do They Accept?
67% of respondents who have extended a counteroffer say it is somewhat or very common for employees to accept the bid.
- 28% of respondents say they would question the loyalty of an employee who accepted a counteroffer.
- 21% say they worry the offer might not address the issues prompting the staff member to leave.
About the research: The report was based on data from 400 telephone interviews: 200 with US marketing executives randomly selected from companies with 100 or more employees, and 200 with US advertising executives randomly selected from agencies with 20 or more employees.
Ayaz Nanji is a digital strategy and content consultant. He is also a research writer for MarketingProfs. His experience includes working as a strategist and producer of digital content for Google/YouTube, the Travel Channel, and AOL.
LinkedIn: Ayaz Nanji