Our team got another Job Offer, what to do?
"It's common if we don't want to hear that someone on our team has another job offer in hand."
Don't panic when the reality people leave jobs, just make the most of the situation. When the employee ends up taking the other offer, it should be a moment of self-reflection for you as a manager to learn more about your own organization, your team, and of course-yourself.
Listen and keep it cool
It's normal if you might feel frustrated or blindsided to react to your employee's news. Instead, solicit more information by simply say, "Tell me more." This will not only buy you time so you can "get your wits together" but will also give you the information you need to gather the material facts about the offer. You can immediately make as much time as possible to let the person tell you in great detail about the company, the sector, the boss, the colleagues, and the job. You might also asking questions focused on what we calls the "4 Ts": the Task (what they will do), the Time (when they will do it), the Team (who they will do it with), and the Technique (how they will do it. This conversation should ideally happen face-to-face. If the person has sent you an email and you work in the same location, hustle right over to their desk. If you aren't in the same office, consider getting together or at least setting up an online quick meeting. Because nothing beats personal presence for openness, which is what both sides badly need in a situation like this.
Call out clear reasons
Careful, sometimes an employee will use an offer as leverage to get a raise or promotion out of you. You can often figure out whether the person would really leave by asking the detailed questions mentioned above and watching for non-verbal cues that indicate genuine excitement. Make sure they don't plan on following through, don't be afraid to call their exact reasons. If it's real enough, then the employee is probably going to leave anyway, and if it's not, you've got some information about the quality person you're dealing with.
Don't ever burn the bridges
If your valuable employee decides to leave, don't hold any grudge. Instead, set up a time for an exit interview so that you can gather more feedback and suggestions on the job, the organization, and yourself as a manager. In parallel, you may, you can plan a proper farewell celebration, or lunch with the rest of the team. It's quite important to thank the employee, and celebrate when you and your company have helped someone develop and grow, even if the time to work together has come to finish line.
Prevent the next off-boarding
Other benefit of your employees getting other job offers is the competitive intelligence you get as a result. You can gather information about: What are other employers offering? What is likely to make other people leave? This will help you as a leader to improve your retention efforts. Keep it informal, running list of your most valuable employees, in terms of competence potential and values and also check in with them regularly to make sure there are no other hidden risks.
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You're not sad to see the employee go: do find out why the person is leaving, because this information could help you retain the rest of your team too - but then just wish the person well and start planning for their transition out. You can use this opportunity to promote another high potential employee who may ready for the job, or otherwise, if you really have no qualified internal candidates, hire someone better.
?The employee's value consideration
Once you've listened and better understand the competing job offer, what you do next will depend on how badly you want to retain the person. As a leader you should have a clear idea of where people fit in terms of their value to the team and the organization. You already taking steps to retain those who are high on the list and managing out those who are low on the list, you need to carry on that work here.
The employee is a star: make every effort to understand how the other opportunity compares to what you can offer, and the highlight the benefits of staying. You may educating the person about what they will gain if they stick with you, whether that is further learning, future increases in salary or bonuses over time, or more opportunities for promotions and growth. Consider making changes to the employee's role or offering them more training. You might be tempted to counter-offer, against it because in most cases it can backfire. The only exception should be when the departure would cause you huge damage. Counter-offers give only a temporary gain because the employee realizes that you as a leader been holding out on them and the word gets out that this is how you get more money.
Just remember this
Do:
Don't: