We invite potential candidates to view this section
of our website. We have provided information that may help you in making career choices.
Please respond with your feedback and recommendations for future articles that would be
beneficial to you.
The
Counteroffer - back
You have interviewed with a new company and received
an offer for a position you believe will give you the things you have wanted, but
have not received in your current position. After careful consideration, you
decide to form a relationship with this new company. Your current company is apprised of
your decision to leave. What are they feeling and thinking when you tell them you want a "divorce,"
or preferably a "dissolution?" Obviously, the goal of both the employee
and the company is to establish a long-term and mutually productive relationship, or a
great "marriage."
Sometimes, a company will make you a counteroffer,
and it may appear to be a sincere effort on their part to reward you while putting their
arm around you. To leave a company where you and your teammates have worked closely
together, building trust and relationships, is usually not an easy or pleasant decision to
make; however, it is important to understand how your company might react to the news:
The Divorce
You’re what? Why didn’t you tell me you
weren’t happy? We were just about ready to give you: 1) a promotion 2) a raise 3) a
new reporting structure 4) other promises…
You’re one of our best employees. If
you leave now, it’s going to really affect the morale of the company
We mentored, trained and believed in you and now
you betray our trust. (Watch out for the guilt trip)
This couldn’t be happening at a worse time.
Maybe we can keep him on until we find a replacement.
The market is so tight for employees now, that
it’s going to take a long time to fill your shoes… not to mention the tremendous
cost of hiring and training a new employee. ($30 to $50K++)
Or... they may react this way:
The Dissolution
Respecting your decision, they may say: Congratulations!
I’m sure this was a tough decision for you. We wish you the best. Thanks for
everything you have given to our company. In this case, there is professional,
amicable departure, friendships remain intact, you are wished well in your new opportunity
- and no counteroffer is made.
Marriage Counseling (When you believe
your position is not giving you the things you want):
It is incumbent on you, the employee, to
communicate your concerns and feelings before things get bad enough that you would
entertain another offer. However, if you do decide to leave, the most universal
advice suggests:
Don’t
accept a counteroffer...
Why Not?
Research has shown that 80 to 90% of counteroffers
don’t work out for any long-term period. You have been caught with another
"employer" and trust and respect may be seriously damaged. What has been the
history of fellow employees who have received counteroffers? Accepting a counteroffer or
responding to a guilt trip may demonstrate poor judgment and a weakness to compromise for
the wrong reasons. Your original deep-seated frustrations and reasons to change in the
first place probably still remain.
Where will the additional salary increase or
responsibility come from? Where was it before, assuming you were properly communicating
about mutual expectations? Will it come from your future earnings? Once you’ve
carefully analyzed your new opportunity and made a commitment to your new
employer/partner, any consideration of a counteroffer may show disrespect for your new
company.
Pre-Divorce Counseling (Before you resign):
Know what possible reactions your employer might
have to your resignation and how they’ve previously reacted.
Prepare a professional letter of resignation
informing them you are leaving the company for a unique, career-enhancing opportunity;
that it was a difficult decision, as working for their company has been a positive
experience and one for which you are thankful; and that, in order to lessen the impact of
your departure, you would like to discuss a mutually beneficial resignation date.
Successful Interviewing - Knowing
when a company is right for you - back
The following questions may assist you in evaluating
a new position and determining whether a company is right for you:
- What do you feel are the biggest challenges of this
position?
- What are the primary goals relating to this position?
- Will you describe a typical day for me? That is, what
would the routine duties of the position be?
- Why is this position currently available?
- Can you tell me something about the last person who
held the position?
- What are the opportunities for advancement in this
department/company?
- What is the rate of turnover of this position? Of
this department? Of this company?
- How often and by whom will I be evaluated?
- How would you describe your management style?
- Generally, how structured is your department? And
your organization?
- How does this department fit into the overall company
structure?
- What is your organization’s basic philosophy or
mission statement?
- What is the nature of the travel? Overnight?
Extended?
- What future relocation might be required?
- How is the department (or area) viewed by other
departments within the company?
- What do you enjoy most about working for this
company? Least?
- How do you see this job (or this position/field)
changing in the near future? Long term?
- What are the expectations for sales and profits?
Short term? Long term?
- What are the possible growth opportunities for a
person who performs well in this position?
Marry the Right New-Age Economy Job, and Live Happily Ever After - A How-To Manual - back
In this new playing field which abounds with exciting opportunities in
the rapidly expanding new on-line economy industries, how do I go about evaluating the right
company for
me? Especially in the current environment where an increasing number candidates
find themselves being served unexpected divorce papers, the courtship and selection
process becomes even more critical to ensuring a long, and prosperous, union.
The Challenges:
Traditional job evaluation rules are changing. Welcome to the New
Millennium. The world economy is transforming the old principles of doing
business. New and established companies are forming/expanding,
or cutting back. Traditional business is being challenged, and consequently, the job
market is in a state of flux. Many of the job evaluation techniques standard only a few years ago may not be
sufficient to help you make one of your most important life decisions: How will I find
the right new-age economy job that is right for me? And how can I have confidence the relationship
will last considering the average divorce rate?
The Commitment: The new economy has afforded opportunities to develop and
grow businesses virtually from scratch. Both new and established companies are looking for people who will share their zeal and the risks involved,
as well as the success.
The Right Match: What types of people/personality traits are new age companies
seeking?
- People who perform well in a rapidly changing environment which is often entrepreneurial
and sometimes chaotic, one in which roles/functions may often be ambiguous.
Those who can tie past experiences and knowledge to a new type of industry.
Individuals who are tech-friendly.
Self-starters and team players who willingly take on
responsibilities and make the major commitments and sacrifices required
to meet the challenges of this competitive industry.Risk-takers who recognize that the
business is an extremely competitive environment.
Find the Passion: Do you think this new job will provide the passion
necessary to maintain a rewarding relationship? How can you be sure? Like any other
long-term relationship, you need to develop a comfort level with the company, your future
team members, and your perception of new role.
Do you share a similar philosophy with the company and its employees? Are these the
types of people you would like to work with on a daily basis? Do they share a similar work
ethic/values? Do they appear to enjoy their jobs and seem to be committed to the
company’s mission?
How to Tip 1 Study their web-site and their mission statement. Are they
both consistent with what you glean during the interview?
How to Tip 2 During the interview, look for enthusiasm, note the pace.
Do people seem to be passionate about the company and their roles? Meet the top execs,
your would be peers/teammates. To learn as much as possible about your prospective
partner, prepare a list of questions in advance of the interview. (A list of these types
questions may be found at www.jdhersey.com
under the Candidate section: "Successful Interviewing – Knowing when a company
is right for you".
Are the company and their concept viable? After identifying and studying their
competition, determine what gives them a competitive edge. Are they in an already
saturated market? What systems, procedures, manpower, special products/service will enable
them to be a survivor? Do they have the infrastructure
to perform successfully? Are their IT/CRM platforms
consistent with the standards of the successful new age companies?
Who are their clients? What are their biggest success stories/failures?
What are their client/employee retention rates? How do they compare in
operational performance with their competitors? What are their offshore
services
capabilities/long/short-term plans? What are their most/least successful
verticals? What is the history of the sales/operational team/efforts?
How to Tip 3
During the interview, ask what the
company’s business/financial plans are for years 1 through 5. Ask the
company who they feel their biggest competition is and what they feel
their competitive edge is. Do your own research to prove it to yourself.
Ask for a list of references, vendors and business alliances. Talk to
stockbrokers who specialize in the industry, investors, venture capitalists,
competitors, former employees, consultants, or anyone who could shed a hopefully
unbiased appraisal of the company’s probability of success.
How to Tip 4
Research industry trade magazines and web-sites.
Check financial/company information in: Investor’s
Business Daily, Wall Street Journal, TheStreet.com, Hoover’s
Online.
Does the company have the right management team and financial backing?
Do they have the company leaders, board of directors, and alliances which
will enable this
company to have a competitive edge and staying power?
How to Tip 5 Study the management team. Study the resumes of key
decision-makers in the company. Look who is on the Board of Directors. Try to determine
the reputations of each. Have they been involved with previously successful ventures.
If a new new company, are they aligned with a reputable venture capital company or high profile individual
investor (or "angel" investor)? How many rounds of funding have they secured,
and what is their current plan for future funding? If possible, find out their cash burn
rate.
The Dowry: What can you expect to receive in compensation and stock options? Obviously,
your compensation and stock options offerings will depend on the level of your current
position and amount of relevant experience. The
earlier the company is in its evolution, the lower the salaries, and the more potentially
profitable the stock options/long term equity will be. Typical stock
options vesting will range from 3 to 5 years.
Final Stages of the Courtship: Companies are typically looking for the
best, brightest, hardest -working, most creative, self-motivated people who have
demonstrated excellent multi-tasking skills. They want team players who can focus, yet who
are capable of handling the stress, competition, and pace of the industry.
The demand for top performing
executives is increasing rapidly. Consequently, because of the shortage of seasoned executives, and top performers in general, the firms will be showing their best
side in order to win you over. Seek to learn the whole picture. Extend the courtship to
learn as much as you can about your suitor. If you need more of a comfort level with your
future team members, ask to go back for another interview until you have learned enough
information to be confident in your feelings that "This is the one".
