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.
CV ‘identity theft’ – Do you know the law?
Think ‘identity theft’ and what comes to mind? Someone sifting through your (unshredded) financial data, intercepting snail mail or perhaps, for the more sophisticated scammer, phishing.
There’s a kind of identity theft used by so-called professional recruiters that we thought we should warn you about, candidates – and employers. It’s a practice that despite being illegal, is uncommonly, well, common.
The Conduct of Employment Agencies and Employment Businesses 2003 regulations state that a recruitment agencies MUST get confirmation from a candidate that he or she is willing to work in the position before putting his or her details forward.
However, in a recent 300-strong discussion on LinkedIn, it’s clear that this is not the case. Not only are some recruitment companies sending out CV’s without first obtaining a candidates permission (whether because they are unaware of the regulations or are choosing to ignore them), they are also claiming a fee from employers on the basis that ‘they got their first’.
So, how do you protect yourself – and stay on the right side of the law when job-hunting and recruiting?
First, ensure you are signed up with a reputable recruiter. REC (Recruitment and Employment Confederation) membership is a good indication that the recruiter subscribes to best practice. Secondly, when you’re registering with a recruiter, make they don’t ask for ‘blanket permission’ when it comes to forwarding your CV to employers. Any recruiter worth their salt should only be putting you forward for suitable job roles, and logging each time they are sent out. CV’s should be targeted for the right role, to the right employer and not sent out scattergun – something which also increases the likelihood of your being called for interview. Thirdly, ask whether they are compliant as part of their terms of business.
Employers wanting to protect their brand and ensure they get properly briefed, vetted and prepared candidates should likewise refuse to deal with non-compliant recuiters.
Simples.
The Great Public Sector Exodus?
Whether propelled by looming public sector cuts and redundancies or just the unsettling prospect of change, enquiries from communications professionals from local councils and central government are flooding in ahead of the upcoming election. We have seen a 60% increase in applications over March compared to February.
it’s party time at The Works!
The Christmas party season has started in style at The Works. Here in the office we’ve been inundated with invitations and last night was particularly busy…
Lynne enjoyed a luxury evening at the CorpComms Awards at The Park Lane Hotel, compered by the comedian Jason Manford. With an abundance of chocolate and Lego to play with, everyone was in high spirits.
Meanwhile Sarah joined Merlin for a drinks reception at The Connaught Hotel. With a great turn out and excellent music a good night was had by all.
Tonight it continues with Sarah and Kate jetting off to the Lansons Christmas fair for a bit of light Christmas shopping and a few nibbles.
Let us know what you’ve been up to and what your Christmas party plans are!
merrily on highs (and lows)
After conducting our most important analysis of the year so far (probably…), we’ve been amusing ourselves in the office with some of the responses to The Works Christmas Party survey.
Amazed by the highs (a complete recreation of Las Vegas in a field outside London) and shocked by the lows (“returned…wearing only her pants…”), we think the final copy will be well worth a read.
Why not take a couple of minutes and send us your contribution? You can be totally anonymous if you like (most people have so far) and you might even bag yourself a £50 Selfridge’s voucher: >Go To Survey
UK employment market ‘recovering’
The UK jobs market is starting to show signs of recovery – the first time in 17 months – according to a survey of recruitment agencies.
The survey, based on monthly research from KPMG and the Recruitment and Employment Confederation found ‘marginal increases’ in appointments in August.
The ‘Markit Economics’ report also found that the decline in the number of vacancies is easing, and that the decline in pay is the slowest in 10 months.
interview workshops to be launched
£24bn a year is spent on managing poor performers – source: Future Foundation project – Getting the Edge in the New People Economy.
Many PR consultants who take on recruitment responsibilities have not had interview training. To address this issue, The Works will shortly be launching interview workshops for consultancies and in-house teams wanting to improve the effectiveness of the job interviews they conduct. (more…)
Redundancy stigma: Why attitudes must change
Approximately 9 out of 10 job applicants are ‘too embarrassed’ to mention their redundancy, according to Sarah Leembruggen, Managing Partner of The Works.
It appears that the recession has done nothing to remove the social stigma attached to redundancy despite hundreds of UK job roles being lost each week.
Sarah maintains that up to 90% of the candidates she interviews are unsure as to whether to mention their (often recent) redundancy status to a prospective employer and insists that attitudes to redundancy must change.
Whilst acknowledging it’s often a matter of ‘easier said than done’, Sarah says: “There needs to be a cultural shift towards redundancy given current market conditions. Candidates should try not to take redundancy so personally but distinguish between and take solace from the fact that it’s their role that has been made redundant, not themselves as an individual.
“Organisations are usually less judgemental when it comes to considering candidates ‘between jobs’, understanding that market conditions are not evidence of a candidates competence – but not always. Given the current war for talent, businesses should welcome a new talent stream.”
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