Skilled employees with quality insights are essential to the banking and financial services sector, and in a busy job market, it is likely for employers to want to keep their best performing talent when they hand in their resignation.
Research from Deloitte revealed that 58% of senior managers across the financial services sector are willing to extend counter-offers in order to keep a talented employee from leaving for another role.
Though this seems like a solution to retaining valuable staff, a counter-offer more often than not is ultimately a waste of time and money, as a level of trust is broken and a salary raise do not solve underlying issues the employee has with the institution.
This article reviews the reasons why counter-offers are best avoided and provides only a short-term solution.
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