Fabian Ruggieri (left) and Warren Corston

When advice businesses rely on leveraging loyalty by offering counteroffers after an employee is headhunted, the relationship often ends up drastically changing.

Kaizen Recruitment principal consultant Warren Corston tells Professional Planner it’s become quite common for employees to end up moving on even after taking a counteroffer to stay.

“What we’ve found is a majority of candidates end up considering a move again within six months after accepting a counteroffer and then within 18 months end up leaving,” Corston says.

“That’s usually driven by the fact that any promises made beyond the counteroffer being salary driven may have not come to fruition.”

More senior talent are more likely to want conversations around flexibility, ongoing salary reviews and payments. They also want to feel nurtured and looked after to want to stay in their role. “Senior talent want to know how much they mean to you,” Corston says.

“These conversations won’t always mean a salary increase, but people want to know that it’s actually been considered by management at least once or twice a year,” he says.

To keep younger employees happy, it’s important to understand that they expect formal conversations around their career every three months or so.

Corston says career development opportunities for young people also need to be clearly articulated, he says.

“You’ve got that clear and make sure you’re talking to them regularly about where they’re heading in their career,” Corston says.

The potential to undertake a professional year, team support and a clear pathway to becoming an adviser is also important, he says.

Bend but don’t break

Riva Recruitment director Fabian Ruggieri says being able to offer a hybrid work environment and an employee share scheme also resonates with employees in the current jobs market.

More established employees are more likely to bring conversations about their career to the table then leaving it up to the business, he adds.

“Senior advisers want to understand how a firm works on these fronts before they even go through the interview process,” Ruggieri says.