The return of the counter offer
In the ‘tug-of-war’ for talent, it’s a truism that good people are hard to find. But it’s equally true that good people are harder to keep hold of. As the PR world emerges from recession faster than many other sectors and competition for ‘good people’ hots up, it’s not surprising that we’ve seen the return of the ‘counter offer’.
And return it has! Four months ago, counter offers were most likely to occur between legal communications teams but with more private sector agencies winning business, the phenomenon has now spread across the board to include corporate PR, particularly in the financial services sector.
We’re not just talking counter offers between a current employer (understandably wanting to retain talented staff they’ve trained and invested in) and another potential employer, but bidding wars between three or four employers all keen to secure the best hire.
Without doubt, the main driving force behind this round of counter offers is money. Talented individuals, frustrated by the recession-enforced career inertia of the past two years are now chancing their arm at interview(s) primarily to boost their salary.
Arguably, some of the candidates we’ve seen who have ‘won big’ at counter offer are those who were genuinely underpaid. One agency candidate even doubled their salary whilst eventually staying with the original employer. Doubling salaries may be exceptional, but it’s been our candidates’ recent experience that significant pay hikes are a factor again.
However, as flattering as a counter offer is employers and candidates should proceed with caution.
National surveys of employees consistently show that of those who accept counter offers, 50 to 80% voluntarily leave their employer within six months of accepting the deal largely because of un-kept promises and the reasons other than salary why they were looking to leave haven’t gone away.
To ensure you don’t become one of those statistics, it’s worth asking yourself the following questions: “Will your loyalty be in question by remaining in the job, especially if future redundancies are likely?” “Is the counter offer just a stalling tactic to avoid short-term inconvenience or a genuine desire to progress you career?” “Will this preclude next year’s bonus?” and “Do the proposed improvements eliminate the reason you went for a new job in the first place?”
But perhaps the most important factor when considering counter offers is the longer term professional consequences. PR careers and professional reputations aren’t made in a moment, whilst a counter offer may be. Just remember that making the wrong choice could leave a potential employer with a lasting negative impression of you long after the bidding war boxing gloves have been removed.
Public sector CV’s rise by 62% post budget
The number of CV’s we’ve received from PR and Comms candidates with a public sector background has soared by a massive 62% since the emergency budget was announced, according to our latest figures.
Out of those 62%, exactly half are from candidates with an agency background, i.e. those agencies with public sector clients. Given that this time last year we received not a single CV from a public sector agency candidate, it’s clear to see where the budget cuts are beginning to bite.
The question is: where does this leave the PR / in-house communicator with a predominantly public sector background? Unemployed? Perhaps for the short term. But unemployable? We hope not. Here’s our advice.
If you’ve come from an agency with public and private sector clients and have first hand experience of servicing both, then private sector employees will be more receptive as long as you can demonstrate a proven track record of private sector successes and relevant media contacts. Bridging the two sectors will also show your adaptability and a transferable skill set, perhaps even putting you at an advantage over those with ‘pure’ private sector experience.
For those with no recent private sector PR or Comms experience, the battle to win HR hearts is undoubtedly tougher – but by no means impossible.
One of the biggest hurdles to overcome is the perception, real or imagined, that the public sector is process rather than results or profit-driven; that perhaps the pace is slower. There is a tendency, particularly during and post recession, for employers to pigeon-hole candidates into the sector they have come from. Employers are more reluctant to accept that skills and knowledge acquired in one environment are transferable and have relevance in another sector.
Being able to demonstrate that you are an ambitious self-starter, have transferable skills, and are able to apply the knowledge you’ve acquired to benefit a private sector employer is therefore imperative. Achievements that are measurable are what private sector employers will be looking for. Have you met and exceeded targets or KPI’s, for example? Having cultivated strong relationships with key media contacts is equally desirable in the private sector wish list. But most of all, particularly if going for a fast-paced, results-driven agency position, candidates must be able to show that they understand the differences between the public and private sector, what drives the market (and current market conditions) and be able to respond as immediately and as well as those with a proven private sector track record.
Changing sectors is always a challenge. In this climate of increased competition and job insecurity, where the private sector is still in recovery post-recession, being willing to consider a drop in seniority, salary or perks until you have more experience may help you appear ‘more attractive’ to a prospective employer.
Of course, there’s also another factor to consider. With top talent in short supply, employers will ALWAYS choose the ‘best hire’. Which means there are win-win opportunities for both sides; outstanding public sector candidates and open minded, flexible private sector employers.
Interview tips: How to sell yourself better
After almost 18 months of recession-induced career coma, the market is moving, particularly in PR. Financial PR, in-house Corporate Communications, Property PR and Consumer are all hiring again, with more senior positions likely to come on board in the Autumn. In Legal PR, we’re even experiencing counter offers, with pay increases of £10K being put on the table to secure the best talent. With competition hotting up (much like the weather) here’s our top ten interview tips to help you sell yourself better.
1. Prepare for the meeting. We’re not just talking about doing your homework about the role and company you’re being interviewed for, but anticipating tricky interview questions such as ‘what is your weak spot?”. By rehearsing your game plan pre-interview (why not practice in front of friends?), your interview performance will be much enhanced and you’re less likely to be floored by killer questions designed to trip you up.
2. Think of yourself as a brand – how are you going to position yourself? With so much competition for each post, how you define and project yourself, skills, dress and personality, is all important. Interviewers are more likely to remember the ‘troubleshooter with a demonstrable track record in communications success’ or the ‘team player who has increased profitability by X% over a two year period’ than the person who is unsure of what their successes actually are.
3. Talk about your input and your results, rather than hiding behind the smokescreen of ‘we’.
4. Be specific and have details/examples to hand. What are you proud of? What have you achieved? How have you contributed? Interviewers love facts, figures and statistics so they can be confident they’ve hired someone who’ll positively influence the wider company’s profitablity and bottom line.
5. Remember that there is a balance between modesty and being overly confident. You’re being interviewed for cultural fit, being part of a wider team and organisation, not world domination.
6. Be genuine. If you don’t know the answer to something, say so, perhaps turning a negative into a positive by saying “I don’t have the experience to answer that question but what I do know is….”. Honesty is always the best policy no matter how great your acting ability.
7. Be aware that social media is desired – even if you don’t do it, make sure you understand it.
8. Be mindful. An hour is usually allocated for a meeting. Refrain from telling them your life story. Instead, be succinct, to the point and use that hour to your best advantage. If you don’t, someone else will…
9. Have questions prepared – there is always something you can ask. What are the company plans for the future? What is the office culture like?. Questions are a good way of demonstrating a real interest in the business. Remember, you’re interviewing them / the company almost as much as they are interviewing you.
10. Be aware of the skills that employers are interested in now, such as new business, emerging trends or markets or digital skills. If you’re not sure of what they are – do your homework!
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