These are not great times to lose a valuable employee. It takes a long time to recruit the right person, to train them up and trust them to deliver, so when they turn around and hand in their notice, it can be devastating. It can be very tempting to throw an extra £5K at them to stay, but consider these 5 reasons why you should shake their hand and wish them well:
1) Once they’ve started looking elsewhere, they’ve disengaged. The emotional ties with the business, and the trust have gone. Even if they stay another 6 months, you’ll know their loyalty has wavered
2) Would you really want to buy loyalty? If you can buy them with £5K, so can somebody else.
3) It’s a small world, if someone has got a great job offer, have the grace not to stand in their way, but congratulate them. Then you can still go to the pub together
4) “We were just about to promote you”. As well as offering more money to stay, you may be tempted to promise a promotion. But be honest, why didn’t you offer this before? Is it truly going to materialise? And how will you deal with the awkward conversation in 6 months’ time when your disgruntled employee asks for a ‘chat’?
5) It’s far better to spend the money on recruiting somebody who’s passionate about working for you
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