Tampa, Fla., July 11, 2024 – A new Hudson Talent Solutions survey reveals that many professionals are skeptical about how effective counteroffers are in convincing them to stay in their current role.
When asked if they would stay at their current job if offered a counteroffer, a staggering 73% of respondents said no.
The survey explored the effectiveness of counteroffers in detail. While 57% of respondents had received a counteroffer when they announced their intention to leave, only 27% found it sufficient to stay. Most professionals indicated that a 30% increase in salary would be the minimum acceptable counteroffer to consider staying, with 32% stating that no counteroffer would make them stay.
“Counteroffers are often seen as a quick fix to employee turnover, but our survey shows that they rarely address the underlying issues,” said Hudson Talent Solutions CEO Jake Zabkowicz. “Organizations need to focus on creating a supportive and engaging work environment rather than solely relying on monetary incentives to retain talent.”
The survey highlighted several key insights into job satisfaction and the reasons professionals choose to leave or stay at their jobs. The top reasons professionals leave their jobs include having a bad boss (35%), salary and benefits (32%), and needing more of a challenge (17%). Conversely, the primary reasons for staying with their current employer are great co-workers and management (32%), an increase in salary and benefits (25%), and engaging, rewarding work (21%).
When asked about their preferred working environment, a significant majority (84%) favored a hybrid model with some level of remote work, while only 3% preferred working onsite five days a week.
The survey also found that nearly half (46%) of professionals have left their job without having another lined up, indicating a strong willingness to take risks for better opportunities.
About the Survey: The global survey of nearly 350 professionals took place in late June 2024.
Survey results
Has an employer ever given you a counteroffer when you told them you were leaving for another job?
- Yes: 57%
- No: 43%
If you did receive a counteroffer from an employer, did it incentivize you to stay?
- Yes: 27%
- No: 73%
What is the minimum salary percentage of a counteroffer that would cause you to stay at your current employer, even if you were less than happy with your job?
- 10%: 8%
- 30%: 44%
- 50%: 16%
- No counteroffer would make me stay: 32%
Are you looking for a new job?
- Yes: 49%
- No: 32%
Have you ever left your job without another one lined up?
- Yes: 46%
- No: 54%
What is your preferred remote vs. office environment?
- 100% remote: 13%
- Onsite 1 day per week: 6%
- Onsite 2 days per week: 27%
- Onsite 3 days per week: 43%
- Onsite 4 days per week: 8%
- Onsite 5 days per week: 3%
Have you changed employers since 2021?
- Yes: 51%
- No: 49%
Has your boss ever talked you out of leaving for another job by promising a better work environment?
- Yes: 44%
- No: 56%
What’s the biggest reason to leave one employer for another?
- Salary/benefits: 32%
- Bad boss: 35%
- Too much stress: 14%
- I’m bored, need more of a challenge: 17%
- Can’t work remotely: 2%
What’s the biggest reason to stay with your current employer instead of taking a new job?
- Challenging, rewarding work: 21%
- Increase in salary/benefits: 25%
- Great coworkers, management: 32%
- Company culture: 11%
- Can work remotely: 11%
About Hudson Talent Solutions
Hudson Talent Solutions is a leading global provider of flexible and scalable recruitment solutions. We service all levels of client organizations, from entry-level to the C-suite, focusing on mid-market and enterprise-level organizations worldwide. Taking a consultative and collaborative approach, we partner with talent acquisition, HR, and procurement leaders to build diverse, high-impact teams and drive business success. Learn more at hudsontalent.com.
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