HOW TO HANDLE A COUNTER-OFFER

Sharp Consultancy's Salary Survey 2025/26: Resetting the Landscape: Strategic Shifts in Finance Recruitment

It would be remiss not to start by addressing the elephant in the room — 2024 was a challenging year.While there were many reasons for this and numerous industries were affected, recruitment likely bore the brunt of it, particularly in the 6 months post-election(s).Whilst key roles and critical hires remained unaffected, certain head counts and processes were scrutinised and investment paused with internal restructures and automation utilised to reduce costs, in some instances, at the expense of employees. We subsequently saw an increase in candidate activity, with the talent pool strengthening. As those pressures eased in Quarter 4, recruitment processes saw improvement and green shoots have emerged. Optimism is on the rise in key hiring processes, albeit with a caveat. The cloud of additional cost increases in April, which is still dissipating. The senior finance and C-Suite market remains relatively unaffected, both regarding opportunities and candidates, it is the levels below that we have seen more change. In the evolving landscape of working dynamics, the volume of hybrid working is gradually waning despite sustained interest from candidates, presenting fewer job opportunities. While the blend of office and remote work remains desirable, it is no longer the predominant factor, indicating a notable shift in priorities for clients and candidates’ acceptance alike. Conversations with candidates underscore a growing desire around the importance of having a supportive mentor or manager and many professionals are increasingly open to a full-time return to the office if it guarantees enhanced guidance and avenues for professional advancement. "The salaries throughout transactional finance have stabilised across the region."Throughout the professional practice market, some similar trends have been observed but there have been noticeable differences in the past year. Salaries across the range of candidates in professional practice, from AAT to fully Qualified (ACA/ACCA) individuals are still rising and those firm’s able to offer competitive salaries alongside stronger training contracts are beating out the competition in a candidate market with a growing focus on study support packages and career advancement opportunities for Part-Qualified candidates, indicating an increase in demand from employers and the volume of available job seekers. The salaries throughout transactional finance have stabilised across the region, in what feels like the longest period of stability seen since Q4 2020 and we expect transactional finance salaries to remain stable throughout 2025/26, with anticipated salary increments to be moderate compared to the significant increases observed throughout the last 2 years. AI & Systems (process automation) continues to impact accountancy and finance, in particular, across larger functions but this has increased the need for wider interim support to assist with the transition and implementation especially with large, automated processes. Whilst 2025-26 will not be the same marketplace for recruitment as seen in previous years, there is certainly a growing level of optimism and whilst a more settled market may be seen as a negative in some areas, for those that have weathered the peaks and troughs over a longer period of time, it will feel very normal and a strong setting for both employees and employers to take advantage and thrive, with an increasing emphasis on growth and development.Download the full Salary Survey here!

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Retaining top talent is a challenge for any business; what do you do if your current employer responds to your resignation with a tempting offer to stay? And if you are an employer trying to recruit a new team member, how do you ensure that your preferred candidate accepts the role?

What to do if your current employer tries to get you to stay…

Think about why your employer has waited until you said you were leaving to offer you more money or a promotion. Do they recognise the value that you bring to the organisation and if not, why not? If they do, have they been taking you for granted and would you be better off starting afresh elsewhere?
What is the relationship like between you and your current boss? If you stayed, how do you think this relationship would be affected?
What were your reasons for looking for a new role? If your current employer is offering you more money, does this change any of those reasons or will they arise again a few months down the line?
Recruiting new staff is a time consuming and often expensive process so it is understandable that your employer wants to retain you and may offer a higher than market rate salary to ensure you don’t leave. However, if the issues that made you look for a new role in the first place still remain, you could find yourself priced out of the market should you decide that you do need to move on at a later date.
Are you prepared to give your current employer the opportunity to address your concerns? Are they willing to listen to your reasons for leaving and can they put workable solutions in place? What value do you place on your relationships with your colleagues and clients? Do you find that the culture of your current workplace matches your own values and outlook?

How to avoid a counteroffer being made to your chosen candidate…

Ask why they want to leave their current role. Try to get a clear idea on their motivations and understand more about what they are looking to gain from a move. If their reasons are solely focused upon achieving a pay rise or a promotion you may find yourself in a bidding war further down the line.
Understand the market rate for candidates at each particular level; whilst you need to present an attractive salary package, you do not want to be paying an inflated rate for someone who may not be able to deliver what you need. And ensure that you highlight other benefits and conditions which will have a perceived value such as flexible working, option to buy additional holiday and subsidised travel.
Remember that the interview is a two-way street and it is as much about you selling the role, company and opportunity to the candidate as it is about them showing that they are best person for the job. Listen to their reasons for looking to leave their current role and demonstrate how you can help them achieve their ambitions.
Move at a timely pace. Speed can often be of the essence when it comes to securing your preferred candidate – once you have made the decision, move quickly through the stages and ensure references and any paperwork are actioned quickly. Keep in touch with the candidate or recruitment consultant so there’s no opportunity for them to doubt that you are having second thoughts.
Put your best offer forward at the outset so you don’t leave the door open for a counteroffer to be made. In the same way that questions will be asked of a current employer, if you are only increasing your offer because a counter has been made, it may not reflect well on you. If you do find yourself in a bidding war over a candidate – either with their current employer or because they have received another job offer – know when it is right time to walk away; you want people who are keen and enthusiastic about the opportunity you are offering.

Sharp Consultancy specialises in the recruitment of finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for temporary, interim and permanent roles across the full spectrum of positions throughout Yorkshire and beyond. CONTACT US today and speak to a member of our team about your next career move.