Despite Covid-19 and too many lockdowns to count—or perhaps in part because of them—the job market is hot right now. The unemployment rate is 4%: that’s lower than predicted by analysts, and lower than before the pandemic. There are plenty of roles out there for those who are looking to move jobs, and for employers, it’s getting harder and harder to fill empty roles. This puts those in the former category in an unusual spot. If you’re in the midst of job hunting right now, you might find yourself in the position of needing to handle a counteroffer —and we know many people have never dealt with this before.
Because of this noteworthy increase in counteroffers, I’ve been speaking with our teams about some of the offer situations we’re seeing. Our aim is to compare information amongst ourselves on how to manage these situations, and discuss how best to support our candidates and clients through the offer process. I thought I’d share some of these ideas, context, advice and tips with all the candidates out there who will potentially face this scenario.
For those doing the hiring, I’ve got a follow up post scheduled for next week with some advice for recruiters and employers.
If you’re job hunting right now, it’s an exciting, yet challenging time. It’s likely that you will be applying for more than one job; most people do. Given the current climate, if you’re experienced in the field you are applying to and have the relevant background and skills, it’s not improbable that you’ll receive more than one job offer — or a counteroffer from your current employer, when you let them know you’re resigning.
Now is the time to think about how you will handle this rousing but possibly a little intimidating situation. After all, making important, life-altering decisions under pressure is not easy; you want to be able to look back and know that you made the right choice, and that you handled it well.
If you are a job seeker who finds yourself in a position with multiple job offers and/or a counteroffer – congratulations! While it can be challenging, it’s still a flattering position to be in. We hope that these points will help guide you through the process, and steer you into your next great role.
If you are on the hiring side of things, wanting to handle offers with candidates successfully, stay tuned for Part 2 next week.