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Staff Management Advice

Using Counteroffers to Beat The Competition

Today’s accounting job candidates are in the driver’s seat. The combination of business growth and a reduced labor pool is fueling demand for their services. In fact, management accountants possessing the right mix of skills are receiving multiple employment offers.

This may be good news for candidates, but to remain competitive in this tight job market, hiring managers should consider putting more emphasis on the negotiation process. Top candidates with the most in-demand skill sets and certifications may already be evaluating other offers by the time you have the opportunity to make your initial pitch. Therefore, it’s important to be prepared to make an attractive counteroffer. Following are tips to help you improve your chances of securing the talent you seek:

• Know the numbers. Understanding the current salary market is key. Your first offer and any subsequent counteroffers should be in line with current standards in the industry and at your firm. Resources such as Robert Half International’s 2007 Salary Guide can support your case for an offer that matches market value.
• Don’t delay. Because accounting candidates are such hot commodities, time is of the essence. Once you know that a prospective hire has received other job offers, extend your counteroffer as quickly as possible. Dawdling may cause you to lose the applicant to a competitor.
• Sell your firm. When presenting a counteroffer, don’t just throw out a new starting salary figure and hope for the best. Provide details about perks such as staff recognition programs, nontraditional perks (i.e., flexible work arrangements, childcare options, etc…), benefits packages and bonuses. Also be sure to highlight advancement possibilities and the most appealing aspects of your corporate culture. And whenever possible, make the counteroffer in person so the candidate can ask follow-up questions.

  Securing management accountants today requires time and flexibility. But by taking a thoughtful approach to counteroffers, you can give your firm a leg up on the competition.

  This article is provided courtesy of Robert Half Management Resources. For more information, visit www.roberthalfmr.com.