Strategic Pay and Counteroffers
October 1, 1999
The labor shortage has become a near cliché nowadays, with unemployment approaching absolute zero in some towns, and employees ready to hop at the next sunrise.
If they haven't yet, some of your top employees may soon announce they're taking off, and you'll have to decide what to do, and how to do it. This feature should help you make that decision, and answer these questions for you:
- When should you counteroffer? What are the pros and cons?
- What do CFOs think about counteroffers?
- Are you paying employees enough to keep them from looking?
- What other methods can you employ to retain your top dogs?