Insights

How to manage the counter offer

How to Manage the Counteroffer

Companies are fully aware that we are in a candidate-driven market, with a shortage of good quality candidates to fill their hiring requirements.

As a result, businesses are trying to hold onto as many strong employees as possible, causing an increase in counteroffers.

Since the start of the year, the Finance & Accountancy market has seen employees being offered an uplift of €10,000-20,000 - in some cases over €25,000 - to stay with their current employer.

If you’re currently thinking about changing roles, you should expect to receive a counteroffer if you hand in your notice. Whether you’ve been working at your company for six months or several years, they will do more than ever before to keep you.

Prior to looking for a new role, here are some questions you should be asking yourself:

  • On a scale of 1-5, how happy are you in your current role?
  • What is the real reason for wanting to leave?
  • What conversations can you have with your current employer?

What should you be thinking when the counteroffer arrives?

  • Why is your employer only realising your value now?
  • Will you be a trusted member of the team moving forward?
  • What if you accept the counteroffer? What if you decline it?

But, most importantly, revisit these simple questions:

  • On a scale of 1-5, how happy are you in your current role?
  • What is the real reason for wanting to leave?

Always think about the real reason you are looking to approach the market in the first place.

Did you know that a high percentage of people who take a counteroffer re-approach the market within a few months?

Does being counteroffered actually make you feel good? Does it make you feel like a valued member of the company, or does it make you feel the opposite in reality?

Think about whether the counteroffer provides a genuine benefit to you or to the employer. For example, keeping you on board means they won’t have to train someone new, pay potential recruitment fees, etc.

If you’d like more advice on managing a counteroffer, either as a hiring manager or candidate, please get in touch with David Harper, Associate Director: [email protected] 

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The Importance of the Employee Experience

The Importance of the Employee Experience

Katie Insley, Associate Director, explores the second quarter of the year and discusses the uplift in HR opportunities across the Netherlands.

There have of course been significant challenges in some industries, but many have reported growth plans, especially in the second half of the year.

We continue to be in a candidate-led market where the competition for talent is still significant. Businesses must place attention on their employee value proposition in a bid to keep their best people, ensuring they have a working culture and environment that responds to their employees' needs, such as hybrid/flexible working and employee wellbeing initiatives. 

We also continue to see an investment in Compensation & Benefits functions, as rewarding employees in a competitive and attractive way remains a key tool to retain top talent.

A good number of organisations have gone through reorganisation activities, and - while this has led to decreases in some traditional HR roles - it has caused an increase in the positions more aligned to the future of HR and where it can add the most value to a business.

These have included roles focused on talent and HR intelligence, where businesses are looking for individuals who are great with data, but who can translate this information into meaningful stories that allow for better decision making.

A focus on HR technology continues, but through the lens of employee experience. How can a business have seamless processes enabled by tech that make an employee’s interactions with HR as easy as possible? This again requires a different skillset, where individuals must not only be great at system optimisation and process improvement but must be able to focus on the user experience, too.

If you’re interested in finding out more about the current recruitment landscape, please reach out to me at: [email protected]

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Q2 2023: Finance Recruitment Market Update - Switzerland

Q2 2023: Finance Recruitment Market Update - Switzerland

As we concluded 2022, we experienced normal market conditions across Switzerland. And, as predicted, an extremely high volume of hiring started from January onwards. 

At EMEA Recruitment, we analyse market data so that we can understand trends and skills shortages to provide factual evidence to our candidates and clients. Some of this data - and feedback from companies that were recruiting during Q1 - has been used to produce the following overview:

German-speaking region

  • Over 100% increase in directly advertised Finance roles during January to March 2023 compared to the same period of 2022
  • Many roles seen in January were re-advertised in March, as they failed to attract the desired audience
  • Companies requiring fluent German language skills experienced the greatest difficulties in hiring
  • Significant increase in roles advertised by Swiss-owned international companies compared to those with non-Swiss ownership

French-speaking region

  • Similar volume of vacancies during January to March 2023 as we saw in the same period of 2022
  • Slight reduction in roles advertised by Swiss-owned international companies, but a corresponding increase in roles advertised by non-Swiss-owned international companies

Hybrid thoughts

  • Requiring 4-5 days’ attendance in the office does impact the diversity of candidates attracted to the role
  • We have seen very little evidence of fully remote roles being offered

Job-seeking process

  • Candidates are happy to look at attractive opportunities, but those in work are being selective about the roles they consider and are less likely to apply directly to advertisements given the limited amount of information available through that method
  • Given the high volume of roles available and the difficulties companies expect when replacing staff, top talent is being recognised more and more by their current employers - therefore, they are more selective about the roles that they would consider externally

What do we expect in Q2?

Business sentiment is still positive, so we expect to see a very busy quarter again for Finance recruitment. We also predict continued pressure on salaries as the battle for talent remains fierce.

Having access to current market information, whether you are job-seeking or recruiting, is more important than ever before.

If you would like to discuss your own career situation or hiring into your team, we would be happy to speak with you. Please reach out to Mark Robinson, Insight & Optimisation Director, for a confidential discussion: [email protected]

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The Key to Success in Today's Recruitment Market

The Key to Success in Today's Recruitment Market

Thomas Powell, Recruitment Consultant, takes a look at the Finance and Accountancy recruitment market in the Netherlands and shares the key to success...

In today’s recruitment market, demand for talent is heavily restricted and continues to be candidate driven across the junior to senior level.  

To be at the top of the competition, it is crucial for you, as the hiring manager, to offer the candidate the right opportunity with clear plans of progression - not a sidestep where they are doing the same role for more reward.

We are noticing that the biggest motivation to move in today’s market falls to the following:

  • Lack of responsibility in their current role - in turn, looking to move to take on more responsibility and have each day be a new challenge where they learn and add value to a company
  • Looking for progression, wanting the step up - candidates in the mid to senior market are constantly looking for the step up in their career and will rarely make the sidestep for additional compensation

How can you do this when recruiting into your team?

First, what profile are you looking for? If you have a strong desire for a particular level of experience in local reporting, you know this is non-negotiable for your business.

However, think about why someone who does this role already would move to your company to do the same role. Think of ways this person can progress and move up in the company.

To retain the best talent in your company, this is what you need to be outlining. This is where you sell yourself to the candidate.

As recruiters, we hear, “This role will have progression opportunities” all the time. Be direct about what progression opportunities are available and ask the question of why the candidate should move.

Secondly, identify a success story. If you have a profile that may fall slightly below the criteria - maybe they don’t hold enough Dutch GAAP or don’t have enough payroll processing experience - offer the training and development to the candidate.

While this can take time, look at how attractive your role becomes and look at the success story you can create in your company. You as the manager have achieved this and, in turn, this profile is likely to stay with your business in the long term, given the time and value you have invested in them.

This is where EMEA Recruitment can add value. We are a candidate-driven business and skilled in mapping the candidate’s motivation to the right business, where they will add value to your organisation and thrive.

If you’d like to speak to me about how we can assist you in your search for talent, please get in touch with me at [email protected]

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Successful Hiring in an Evolving and Competitive Market

Successful Hiring in an Evolving and Competitive Market

Over the last quarter, we have seen 14% inflation in the Netherlands. However, we have seen a buoyant market, despite a rather unstable financial climate.

Even with the cost-of-living crisis, hybrid vs. office debate, and a looming recession, we are still seeing candidates change roles.

It is still a candidate-driven market, so companies are having to put forth a strong value proposition to attract the right talent.

  • Is your business financially in line with the market?
  • Are you offering the right benefits?
  • Do you need to re-evaluate your recruitment process?
  • How is the candidate’s journey?

These are all questions businesses must answer before entering the marketplace.

There is a growing concern in the market, due to inflation, which has caused a rise in salaries. Businesses may have to offer competitive salaries outside of their yearly reviews to current staff for retention, alongside competitive pay to attract new staff.

Candidates are also looking for a business that can offer career development and provide a flexible working environment, which allows for a good work-life balance. Therefore, hybrid working is key to successfully retaining staff.

Recommendations:

  • Make a clear choice - Is your compensation in line with the market and/or does your business have enough differentiators to compete with the marketplace?
  • Career development – Are you creating an environment where candidates can grow and progress their career?
  • Flexibility – Since the pandemic, the market is not just driven by high compensation, but also hybrid working.

EMEA Recruitment support

EMEA Recruitment is focused on working closely with both passive and active candidates. The aim is to ensure that we are clear on the drivers and motivators for candidates to move. This way, we are sure that the candidate we put forward for your roles are aligned with your value proposition.

Currently, most of our roles are filled through the headhunt approach, with candidates who may not be currently looking for a role. This success results from the insight we gain into our candidates’ longer-term aspirations.

Our focus:

  • Career consultation and advice – Understanding the vertical and horizontal growth of candidates.
  • Focusing on the employer and candidate journey – Understanding the timeline of the recruitment process to maximise chance of securing the ideal candidate.
  • Understanding what makes a candidate stand out.
  • Understanding a company’s value proposal and what makes a potential employer unique.

For more information on our approach, please contact Michael Bentil, Senior Consultant, in our Finance & Accountancy recruitment division in the Netherlands.

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Q1 2023: HR Netherlands - Recruitment Market Review

Q1 2023: HR Netherlands - Recruitment Market Review

As we move into the New Year, it’s been interesting hearing the thoughts of our network regarding their recruitment plans.

We may be experiencing high levels of inflation - as well as some economic challenges – however, the tone amongst many of our clients remains positive.

Although there are economic uncertainties, we still have a labor market with significant competition for talent and individuals who still have an appetite to explore new opportunities.

We ran a poll last month asking our network if they would consider moving roles in 2023 - 71% said they would. Although there may be a perceived risk attached to taking a new role, making a move in this market often accomplishes a substantial salary/package increase, so remains attractive to many.

If we compare the approach to recruitment versus last year, we have seen an even greater emphasis on headhunting - especially the need to reach out to passive candidates. Those interested in a career move no longer need to apply for roles, as they are proactively contacted about new opportunities, so including this approach in your sourcing strategy is essential.

In terms of market trends, we have seen an uplift in specialist areas, including HR analytics. Many organisations continue to experience significant digital transformation and are looking to data to drive better business decisions. The use of HR analytics - especially talent/workforce analytics - is helping organisations tackle some of the key issues around talent management and retention.

We also see an increase in the number of reward opportunities in the market, as organisations review how they compensate employees in a bid to retain top talent.

If you’re hiring into any of these areas in your business in 2023, we can help you find specialist talent. We would also like to discuss some of these topics further with our network, so please get in touch with Katie Insley, if you’re interested in market insights as we enter a New Year.

Latest Event

Driving your ESG Agenda with Responsible Rewards

On the topic of Compensation and Benefits, we had the pleasure of hosting our quarterly event with guest speakers Xavier Baeten, of Vlerick Business School, and Frederic Barge, of Reward Value, who shared their insights and expertise in the field of Responsible Reward.

Attendees were introduced to a wide range of Sustainable Development Goals and a Responsible Reward framework, giving steps to follow when modernizing a remuneration policy to drive a company’s Environmental, Social and Governance agenda.

This was coupled with a deep dive into executive compensation and how developments in the current model can act as a catalyst of social change.

A recording of the event is available, so do reach out to Katie Insley, Associate Director in our HR team in the Netherlands, via email: [email protected] if you’d like to receive the link.

At EMEA Recruitment, we operate as a true partner to our clients and are keen to ensure topics covered in our events are of value to our network. We are therefore always keen to receive your feedback on topics you’d like us to address in the future.

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EMEA podcasts

The EMEA Recruitment podcast welcomes guests from across our network and beyond to share their career journeys, advice, and inspirational stories. 

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Being a Woman in Finance - Susanne Rothstein

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