Appoint an "Interview Coach." Ideally this person should be the Hiring Authority who the candidate will directly report to. The Interview Coach should handle the "wrap-up sessions" at the end of every interview. They are also responsible for recapping all the candidate information gathered during the interview sessions, and shared with the Interview Team. This is also your "closer," the person capable of asking for an "acceptance."
Due to the competitive labor market, it is inevitable that quality candidates will be enticed to stay at their current employer. To assist you in minimizing the potential of losing a candidate at the "11th hour" we have placed special emphasis in this area.
As to the timing of when to address the counter offer, it is most effective when done during the initial phone interview, after completing your prescreening of the candidate's "needs and wants" and identifying a reasonable match. Additionally, it is critical to readdress this issue while taking feedback after every interview and absolutely before you present the offer.
As to the technique of addressing the counter offer, it is based upon the concept of utilizing the candidate's own feelings about their "needs and wants" and what you have to offer in contrast to their present employer. We call this "boxing in" the candidate.
As to "Boxing In" on a counter offer commitment, this entails getting a firm commitment from the candidate that they will ideally not accept a counter offer or, at a minimum, is a low risk. Otherwise you will not pursue this candidate.
These following articles will provide you with a more detailed map on "how to" deal with the counter offer, each from a different perspective (candidate, hiring employer and current employer).
Since Tax-Talent has "front-loaded" the candidate with an enormous amount of detailed information on your company and the Job Specifications (needs and wants), you can immediately begin to pre-qualify the candidate.
A. Pre-qualify that your "needs and wants" can be met by the candidate
Refer to the Job Specifications to confirm your "needs and wants." "Needs" are defined as the criteria a candidate must possess in order to be successful in the position. "Wants" are defined as the criteria you would prefer the candidate to possess. Rank these and confirm "needs" as those things you cannot live without. Pre-qualify the candidate on technical abilities and personality/cultural fit. It is important to understand the "why" behind each question you pose to the candidate.
Sample Questions (Example: Looking for a Manager of International Tax Planning)
"John, in your present position approximately what percentage of time do you spend between Federal, State & Local and International tax?"
"Of the amount of time you spend in International Tax, what percentage of your time is spent on planning? And then how much time is spent in transactional vs. operational planning?"
"Let's do the same for compliance. How much time do you spend on compliance preparation and compliance review?"
"Tell me briefly tell me about a transactional planning project you were most recently involved in, what role did you play in the project, who took the lead, and how it might relate to the key objectives of the position?"
If the candidate is not presently doing the type of work you need experience in, ask about their previous positions. It may be they have the background you are looking for but their present position does not afford them the opportunity to use these skills.
B. Pre-qualify the candidate's "Needs and Wants" in relation to what you can realistically offer
1.
Establish the "Needs and Wants" of the candidate, and then determine if there is a match with what your position offers. Candidate "Needs and Wants" can be classified as: type of company/work, location/commute, compensation, and any special benefits.
2.
You will also do the first of several checks for the candidate's susceptibility for a counter offer.
Sample Questions:
"If you were to make a change, by what criteria would you evaluate the opportunity?"
(Determine the degree to which your opportunity matches these)
"Why is the planning so important to you?"
(You need to know why this is important so you can feed this back to the candidate when reviewing how your opportunity meets their "needs and wants."
"What are the top 5 criteria by which you would evaluate an opportunity?"
(Have the candidate list them by priority (e.g. Manufacturing company $1 billion in sales or larger. Ask them why manufacturing is important, and why $1 billion in sales a criteria. Keep asking "why" and "what" until you have all the answers.)
"What are your long-term career goals and why do you think this opportunity is a step to achieving these goals?"
"What is it about your present opportunity that you would change?"
(Listen to what the candidate is saying. Can you offer them any of these changes? Here is the first "counter offer" prevention step you can take. Once they describe what they would like their present position to have then ask the next question.)
"Have you given your present employer the opportunity to remedy this?"
(You are checking for the candidate's susceptibility to accept a counter offer.
If they have spoken with their employer, ask what the outcome was. If they haven't approached the employer, this is a good time for them to do so, without the candidate indicating they are considering other opportunities. When this conversation takes place and the company does not respond to the candidate's satisfaction, they should then feel sure of their decision to leave. When this occurs tell them to call you back to proceed with the interview process. The goal is to get the candidate to get an honest answer from their employer regarding their issues before you set a face-to-face interview. Caution the candidate not to act as if this is a threat to leave. It's in the candidate's best interest to get honest feedback now rather than wait and get a response when they are turning in their resignation.)
C. Confirm Candidate Interest
Before going any further confirm the information you have gathered so far with the candidate. Review what the candidate has told you would be important in evaluating a new opportunity. Review how your position can meet these "needs and wants". Basically summarize how you see a potential "match," and get acknowledgment back from the candidate that, at this point, they agree.
D. Identifying and addressing potential "deal breakers"
Note the areas where candidate and company expectations do not match, these could be potential "deal breakers." You may choose to address these in detail in a follow up second phone interview, or in a face-to-face interview giving the candidate time to talk it over with their spouse or just to think it over themselves.
Family Issues Are there any dual career issues that will be affected by relocation? Are there any special educational needs that should be considered? Are there any elder care issues that would be affected by relocation? Have you discussed relocation with your family? What was their reaction?
Housing (if applicable) Do you own or rent? (If the candidate rents then ask) When is your lease due? What would it cost to break the lease?
If they own a home ask: What is the square footage and lot size? What year did you purchase your home? What was the purchase price? What is the estimated selling price, and what is the estimated equity? What is the condition of the current housing market where you live? Do you anticipate any problems selling the home? Are they willing to sell it on their own? What is your expectation on relocation assistance? (Send the candidate to the Internet to evaluate housing options in your area. This information was included in your Job Packet)
Compensation What is your current base salary? Do you receive a cash bonus, and on what criteria is it based on? When is the bonus paid? Have you any unvested stock options? What is their vesting date and approximate value? What are you expecting a prospective employer to offset against these options? Are there any components of your compensation package we have not discussed? (car, country club membership, etc.)
Benefits Describe your present health, dental and optical insurance coverage? What are your out-of-pocket expenses? What type of retirement package do you have? (401K, matching %, and vesting period or, Pension and vesting period or, Profit Sharing Plan and how much so far?) What is your present vacation policy? What is your upcoming vacation schedule? What are their vacation expectations?
Other Interviews "Before we go any further, I need to ask if you have any other interviews or offers pending?"
(If the answer is yes, then ask)
a. If there are any offers pending or recent interviews identify the candidate's interest level. Specifically, how does the candidate believe the position meets their "needs and wants?"
b. Ask the candidate for feedback on your opportunity. Then review the potential matches you see your opportunity provides. If you are both satisfied that there seems to be a potential match then proceed. If however, you or the candidate have identified potential "deal breakers," this is the time to discuss the issues and have the candidate think them over and set up a time for a follow up phone interview.
E. Testing For Counter Offers
You have already read the three (3) articles on Counter Offers prior to the phone interview. You have addressed the issue of the present employer possibly meeting the "needs and wants" of the candidate either by sending the candidate back to speak to the present employer or confirming that this has already occurred and you decided to move forward with the interview. This is the time in the interview you can test the candidate's susceptibility to accept a counter offer.
Sample Questions
"Is there anything else that your present employer could offer that would motivate you to accept a counter offer?"
"How will your company respond when you resign?" "What can your company do to change your mind?"
Assuming you hear the candidate say their employer does not have the ability and/or willingness to offer what you can, ask for a verbal commitment that the candidate will not accept a counter offer.
As long as the candidate's response is "no" to the counter offer then move forward. Of course, if their answer is different, then ask the candidate to take a few days to think about this scenario and approach their present employer giving them an opportunity to meet the candidate's "needs and wants." Ask the candidate to call after this has occurred and let you know the outcome, so you can either move forward with the interview process or not.
F. Confirming Candidate Interest and Wrap Up
Reconfirm the candidate's interest level. Analyze the information you have gathered (candidate "needs and wants," their ability to do the job, counter offer risks, possible deal breakers) and if you are satisfied with a potential match, schedule the candidate for an initial face-to-face interview.
Sample Questions
"Based on our conversation so far, I believe we have a potential match between what we can offer and your "needs and wants." What are your thoughts?" (Ask for details to their answers on a potential match. If the candidate voices any concerns on "mismatches" address them now if possible, if not then a second phone interview might be necessary.)
The Interview Coach should recap all the information gathered in the Phone Interview for incorporation into the Initial Interview Packet for other Interview Team members.
Detailed evaluation of CANDIDATE'S "needs and wants" potentially being met by what you can reasonably offer 1. Identify candidate expectations on compensation (base salary, unusual benefit requests, bonuses, reviews, details on options) 2. Type of work this candidate wants to do and timetables 3. Career advancement expectations and timetables 4. Identify housing/relocations issues 5. Identify if the candidate's family has any "special" needs (parents or children)
With the information provided in your Job Profile (Job Specifications and Candidate Profile), and data you gathered in the Phone Interview, you can now begin to "qualify" the candidate in a detailed manner. Also reconfirm any potential "deal breakers" that have been addressed in initial and/or secondary phone interviews. It is not unusual to find things may have changed and issues need to be revisited and clarified.
The Interview Coach should provide a recap of the information gathered in the Phone Interview to all members of the Interview Team.
Candidate assessment can be affected by first impressions and whether the candidate and interviewer get along. Personality in the interview isn't always a predictor of performance, and is not a true indicator of work personality. Some candidates are temporarily nervous, talkative and others outgoing and on their best behavior during interviews. Our phone interview neutralizes some of this but here are additional steps:
How To Minimize
In the Initial Interview (face-to-face) wait 30 minutes before making any decisions (this increases objectivity and accuracy).
Measure your first impressions again after 30 minutes, and then revisit your first impression. Compare them with your original assessment and evaluate your reaction.
Use the candidate's past performance and accomplishments to evaluate their ability to achieve the key objectives of the position. Look for technical ability, and past experience that relates to your key objectives. Look at past job moves to show upward growth in responsibility, technical areas, compensation, and how the moves fit into the candidate's stated long-term goals. Reconfirm all information that was gathered in the phone interview. Reconfirm percentages of time spent in Federal, State and International tax, as well as time spent in sub-specialties.
Sample Questions:
"John, we've already spoken about the amount of time you currently spend in International Tax, now let's look at your last two positions. Can you give me a percentage breakdown of the amount of time you spent between Federal, State and International tax? Of that time, breakdown by percentage, the time spent in transactional planning vs. operational planning." (Do this for all the positions the candidate has held, with the exception of the ones covered in the phone interview)
"Let's talk about your greatest accomplishments. Can you relate two or three major accomplishments that involved transactional planning issues, and explain your role?"
Then ask,
"Why were you chosen for the role?" "What was the business impact?" "What was the timeframe of the accomplishment?" (duration with dates) "What were your biggest challenges?" "Is there anything that you would have done differently, and why?"
(Do not accept generalities. Ask for specifics with measurable examples. Look to evaluate the trend of leadership, technical ability, initiative and results for each accomplishment.)
"Don't perceive this as a put down, but just as a measuring stick for me. What are your likes and dislikes about your present boss?"
OR
"Of the different types of management styles you've been exposed to, which one do you prefer to work for and which one do you least prefer, and why?" (Identify the personality and management style the candidate responds best to.)
"In your past positions what were some of the personality types of your co-workers that you enjoyed working with and least enjoyed working with?" (Identify how this candidate will fit into the personality of the department)
"Let's review the reasons for your past job moves. Describe how each move has enhanced your career?"
(Look for anything that might be a potential "red flag." Probe any answers that are not specific in nature, especially in regard to frequent job moves. Ask for detail when there is a significant time lapse between jobs.)
By obtaining detailed information on what the candidate's "needs and wants" are, you will be able to factually compare them to what you can reasonably offer the candidate. The candidate's "needs and wants" involve compensation, benefits, housing, and relocation. Taking the time now to obtain this detailed information will save time in the long run, and again reduce the risk of counter offers. Again reconfirm information gathered during the phone interview. Repeat the "needs and wants" and long-term goals the candidate expressed during the Phone Interview. Don't be surprised if things have changed or "you must have heard incorrectly or misunderstood." This is why reconfirmation is extremely important for all information that could lead to a deal breaker.
Use the information gathered during the phone interview and go forward with obtaining details on housing and relocation issues.
1. Housing Issues:
If the candidate is renting
a. Reconfirm when the lease is due for renewal and what it would cost to break the lease? (These were initially covered in the Phone Interview)
b. Ask them to describe the size of their apartment (number
of bedrooms, baths, approximate square footage)
c. Do they share the rent now?
If the candidate owns their residence (compare information given here to Phone Interview Information)
a. Reconfirm the year the home was purchased, the purchase price, the estimated selling price and the equity. (These were initially covered in the Phone Interview)
b. Ask the candidate to describe their present home:
Bedrooms ____, Baths ____, Approximate square footage ______, City or Suburb Location _______, Size of Lot ______
c. Major dollar improvements involved?
d. What is the current housing market like in their present city?
e. Present mortgage balance? What is the interest rate?
f. Ask the candidate for feedback from the Internet information you sent them to in the Phone Interview
Reconfirm information candidate presented during Phone Interview as to their relocation expectation or relocation assistance.
a. Moving costs, do they have any special items such as a boat, antique furniture, etc.
b. Real estate fees on sale of home
c. Closing costs on sale
d. Closing cost on purchase
e. Temporary living? How many days?
New location requirements. (You can refer the candidate to the Internet information supplied in your Job Packet)
a. Home size and style preference
b. Commute time (Candidate and spouse if applicable)
c. Schools
d. Crime rate
e. Special health services (special medical needs of immediate family members
"What would you like to have in your new residence?" Bedrooms ____, Baths ____, approximate square footage _______, city or suburb location, new construction or older home preferred?
2. Family Issues
Identify if the candidate's family, or significant other, has any "special" needs: (Reconfirm information gathered during the Phone Interview)
a.
Reconfirm any information regarding the spouses' transfer to the new location.
b.
How many children, and their ages. Reconfirm, from info gathered during phone interview, any special educational needs they may have. (Advanced student, slow learner)
c.
What activities are the children involved in? Ask for feedback from the Internet information you directed them too. Did they find similar activities/interests groups at the new location?
d.
Has the issue of relocation been discussed with the children, and if so how did they respond?
e.
If the candidate has not discussed this issue yet, ask Why? When do they plan on talking to them?
Family History
a.
Does the candidate have any family living in or near the new location? Where do they live?
b.
Spouses' family lives where?
c.
Reconfirm any elder care issues discussed during the Phone Interview.
d.
If elder care issues are involved, reconfirm what type of family assistance the candidate provides.
e.
If there are siblings, has the candidate discussed their relocation with them? If no, encourage the candidate to do so immediately (this could be a potential "deal breaker" if elder care issues are involved)
3. Compensation
Identifying the candidate's expectations on compensation and benefits not only allows you to recognize if there is a match on dollars, but also identifies if the candidates level of performance is consistent with what they are being paid. It identifies if they are in line with their profile, either a "fast track" or "B" player. The candidate's past percentage increases and bonuses can be a precedent for future expectations.
It is critical that you understand exactly how the candidate is valuing their current compensation to ensure they are getting full value of their present situation. If you understand the full value of the candidate's present compensation in relation to the market, you will be in a better position to negotiate with the candidate.
Reconfirm all information gathered during the Phone Interview to be sure that nothing has changed since that conversation or that facts and figures were not misunderstood by either party.
a.
Reconfirm current base salary.
b.
Reconfirm cash bonus, and what criteria the bonus is based on.
c.
Are you paid overtime? If so, how many hours do you expect to put in this year?
d.
What do you expect this year in overtime compensation?
e.
What were you paid last year in overtime compensation?
f.
When was your last base salary review (month/date)?
g.
Your increase was ______%?
h.
What is the date of your next salary review?
i.
What type of dollars are you expecting in base, bonus and overtime? Why do you think this will occur?
j.
What is the date your bonus is paid on? (Be careful to get specific dates, most companies require employees to be employed at current company to receive a cash bonus. The closer you are on timing the more diligent you must be.)
k.
Do you need to be employed with your company to receive any part of a bonus? If the candidate answers YES, then ask Are you willing to walk away from your bonus? If the candidate's answer is NO, then depending on your search time in relation to bonus date, you have reached a "possible deal breaker." Your decision now is, "Do I go forward or stop?"
l.
Identify any stock options or restricted stock grants the candidate may receive. These are considered part of the candidate's compensation. Ask for vesting and or exercise dates. If the candidate does not have the information readily available, make arrangements to confirm this information outside of this interview.
Benefits
a.
Reconfirm with the candidate, the type of health, dental, optical, and prescription plans they currently have, and the monthly premium costs to the candidate.
b.
Reconfirm the type of retirement package the candidate currently has (401K, matching % or Pension and vesting period or Profit Sharing Plan - what have they received).
c.
Reconfirm the candidate's current vacation policy and their upcoming vacation schedule. Ask the candidate about desired vacation days (testing here for flexibility).
d.
Identify any miscellaneous perks such as car or car allowances, educational reimbursements, club memberships or any other items that might fall under this category.
D. Assuming you want to move forward, it is time to sell the position by explaining the "match;" Why should this person be interested in your opportunity?
Keep in mind A and A+ candidates normally are relatively happy, and due to the quality of their work, their employers tend to meet whatever "needs and wants" they have. They generally are attracted by what you have to offer that their present employer cannot provide.
You have gathered in-depth information on the candidate's "needs and wants." Parallel what you can offer to the candidate's "needs and wants." What you have to offer is in your Job Packet. You have the opportunity to expound on this with the in-depth information you have gathered.
E. Counter Offer - "Boxing-In" and asking for a verbal commitment
"Boxing In" entails getting a firm commitment from the candidate that they will ideally not accept a counter offer. You have pointed out the pros of your opportunity as opposed to what the candidate has presently.
1.
Reconfirm that there is nothing that the candidate's present employer could offer that would motivate the candidate to accept a counter offer. Ask the candidate, "What will you say when you go into your boss and resign, and they come back with the same dollar offer plus a promise to make changes?" The answer should be, "There is nothing they could offer that would make me accept a counter offer." You have gotten a verbal commitment.
2.
If the candidate responds that they would want to think about the counter offer, it's a safe assumption that this is a high-risk candidate and you should not move forward with the interview.
F. Determine the candidate's interest level (ask for candidate feedback).
Recap your "needs and wants" and ask the candidate if they feel there is a match. Ask for specific examples don't accept generalities. Ask the candidate, "If all "needs and wants" were being met on both sides, when could you start?"
G. How do you stack up against the competition?
1.
Reconfirm with the candidate that there are no offers pending. Also ask about any recent interviews. Even though you confirmed this during the phone interview, you are in a fast paced employment market and things can change overnight.
2.
If there has been a recent interview ask about its' timing and status, and details (type of position, location) about the opportunity. Specifically, how the candidate believes the position matches their "needs and wants," in relation to what you are offering.
H. Interview Timetable
Discuss your timetable for completing the interview process with all candidates. The candidate should leave the interview knowing exactly what to expect next and the time frame in which it will happen. In this fast paced marketplace, you cannot afford to move slowly or without a definite timetable for your hiring process. Top quality candidates are at a premium, and an expedient well-orchestrated interview/hiring process will ensure you are attracting and retaining quality tax professionals.
A. Balanced analysis of company original "needs and wants" against original candidate accomplishments and or abilities, and what the company has to offer against the candidate's specific "Needs and Wants"
Refer to the original Job Specifications and Specific Accomplishments (contained in the Job Packet) and use these to rank the candidates. Compare each candidate's accomplishments (past performance) and abilities to your Job Specifications and Accomplishments. Then compare what you can realistically offer the candidate in relationship to the candidate's "needs and wants," which you identified during the Initial Interview. If there is a match between the company "needs and wants" and candidate accomplishments and abilities AND what the company can offer and the candidates "needs and wants," then that candidate should be moved to the Short List.
B. Identify risk value of counter offers and specific deal breakers ($'s, interest level, relocation, etc.)
Candidates who have made the Short List based on company and candidate "needs and wants," now need to be evaluated on the counter offer risk and any deal breakers. At this point, any identified unresolved deal breakers (salary expectations, benefits, relocations issues, housing issues, special family needs) non-committal answers regarding counter offers identifies a candidate as a "high risk." Since the objective is to address and find solutions to deal breakers as soon as they are identified, any that are still remaining might be considered irresolvable at this point. Candidates who now appear on your Short List should be cross-referenced for counter offer susceptibility or irresolvable deal breakers.
C. Identify the top 2 candidates
1.
Using the exercises above allows you to narrow down your list of candidates. Of course you will want to choose the strongest in technical and past experience but equally important is the match between what you can reasonably offer and the candidate's "needs and wants."
2.
When you find this all around match you have found your top candidate(s). Although we suggest the top two (2), the ideal situation would be a backup to these two if possible.
REMEMBER THAT YOU ARE WORKING WITH TIMING ISSUES HERE. TO ASSURE THAT YOU ARE ABLE TO GET THE BEST CANDIDATE STAY WITH THE TIMETABLE YOU PRESENTED THE CANDIDATES DURING THE INTERVIEW PROCESS. STAY IN CONTACT WITH THE CANDIDATES UNTIL YOU ARE READY TO PRESENT YOUR OFFER.
The Interview Coach should have all phone and initial interview recaps in the interview packets for all members of the team. For many this will be a second interview, but for some members of Upper Management this may be an initial interview.
Be cognizant regarding timing. In this "talent war" marketplace, top quality candidates are in great demand. Waiting just a week sometimes can cause you to lose your top candidate. Move the interview/hiring process along as quickly as possible.
A. Reconfirm details of your job specifications ("Needs and Wants") and key objectives
Provide a review of the job specifications and key objectives of your position. Specifically identify your expectations of this position over the next 12 months. Then ask the candidate to choose one of the objectives and describe how they would go about accomplishing this.
Ask the candidate what they see as the positives and negatives of this opportunity. How does the candidate see your opportunity in relationship to their present opportunity? What can you offer that they don't have now?
Use the candidate's feedback to point out the match between the company "needs and wants" and the candidate's "needs and wants." Once this has been established and you have agreement from the candidate.
Reconfirm that the candidate's family is supportive of the move (If relocation is involved, the candidate should have been contacted by the appropriate department and supplied with any additional information necessary to assist in making a decision. Tax-Talent has front loaded the candidate with information, pertinent to your opportunity, on location, schools, crime rate, housing, special services, cultural offerings, cost of living, etc.). All Tax-Talent My Tax Career Members have access to the Relocation Links, which provide information on moving, real estate, vehicle transportation, etc.
C. Reconfirm for counter offers, "boxing-in" and ask for a verbal commitment
1.
Reconfirm with the candidate, "Is there anything your current employer can do or offer you, at this point, that would cause you to stay where you are?" Assuming you receive a "No" answer then ask, "So what I hear you saying is that there is nothing your current employer can do to retain you, and you will not accept any type of a counter offer?" Make sure you get a firm answer from the candidate.
2.
If you do not get a firm answer to your first question or the candidate hedges on their response, you are dealing with a "risky candidate" and may choose to drop the candidate or continue knowing you have a high risk for a counter offer acceptance. The choice is yours. In this situation you want to be sure to have a solid "back up" candidate.
D. Reconfirm other positions you are in competition with
Although you covered this issue in the initial interview, you must do so again, especially in this fast paced market.
1.
Ask the candidate if anything has changed since you spoke last regarding recent or active interviews, or pending offers.
2.
If the candidate acknowledges another interview situation, then do exactly what you did in the Initial Interview. Identify their interest in the position, the timing, has an offer been made and most importantly does it meet their "needs and wants." How does it compare to what you can offer them in relationship to their long-term goals? (Use the candidate's own feedback, on your position, to make a more powerful impact.)
E. Confirm Candidate Interest - "Pre Close"
Ask the candidate: "Assuming the compensation package is acceptable, are you ready to join our team?"
If the answer is "yes" then move to Step F.
If the answer is "no" then get the specific reasons why not and determine if they can be resolved before moving forward.
F. Check On Timing For Decisions
Ask the candidate their availability since you will be making your decision on your final choices for the position. Let them know what the next step in your decision making process is and when they should expect to hear from you. (Keep the interview process moving along, stick to the timetable you have set with the candidates).
G. Overview of Your Orientation Process
Discuss your orientation process with the candidate. Make them aware of what they can expect the first 12 months they are on board. It should outline all the basic needs of the new employee, Assign an "Orientation Guide" to each new employee. The "guide" should:
1.
Ensure that the employee's desk/office is set up and equipped before the employee arrives for the first day of work
2.
Orient the new employee to the department by providing a tour complete with introductions to co-workers, etc.
3.
Acquaint the employee with the computer system
4.
Acquaint the new employee with department procedures
5.
Assist in any way to make the first week as comfortable as possible for the new employee
Ideally, the Hiring Authority whom the candidate will directly report to should present the Test Offer. This can be done either in person or by phone, however we recommend in person to solidify the commitment from the candidate.
A. Reconfirm the candidate's interest
Reconfirm that the candidates "needs and wants" have not changed. Review how their background meets your "needs." Reconfirm that the candidate clearly understands the expectations and key objectives of the position.
B. Reconfirm with candidate that they have all the information they need to determine if they want your position, other than the compensation package
At this time the candidate should have all necessary information to make an informed decision. However, check with them and ask if there is anything else, besides the compensation package that they need to make their decision.
C. Test for "counter offer" and ask for a firm commitment
Reconfirm with your top candidates that there is nothing that their present employer could offer, at this point, that would entice them to accept a counter offer. Repeat their answer and say, "So you're telling me there is nothing they could offer you to retain you?"
D. Present test offer
Assuming you have a verbal commitment from the candidate present a test offer. If everything is right for you, your "needs and wants" are being met, aside from the compensation package, there shouldn't be any reason you wouldn't accept our offer?
A. Reconfirm Candidate Has All Necessary Information
Reconfirm with your top candidates that they have all the information necessary to make a decision on your position. Be sure that all relocation issues, questions regarding benefits, vacation issues, have been addressed and answered satisfactorily. Once this is done, it is time to put your best offer forward.
B. Putting Out Your Best Offer
Just as you did with the candidate, be sure you have all the salary, benefit facts and figures, what the candidate may be leaving on the table by accepting your offer, vacation allowances you need to arrive at your offer. This is not a marketplace you want to do "horse trading" in. Tax-Talent provided a market evaluation at the beginning of your search process, to ensure your compensation package was in line with current market conditions.
C. Present with confidence and an assumption of acceptance
You've attracted and identified the best candidate for your position. Present your offer with a strong positive attitude. Again, the Hiring Authority, whom the candidate will be directly report to, should ideally make the offer. This can be done either in person or by phone depending on your preference.
Example:"We are really excited about having you join our company and we are ready to extend an offer to you. Before I do this, I want to make sure you are ready to receive the offer. Assuming the offer is complete and acceptable, is there any reason you would decide to stay at your current company?"
Assuming they come back with a "No" answer, continue with the offer presentation.
D. Give the candidate 3 days to respond
Once you've gone over the entire compensation package, answer any questions the candidate may have initially, tell the candidate you are expecting an answer within three (3) working days. Be sure to tell them that you are available to answer any questions or provide any information they may have. Give them phone numbers where you can be reached during this time.
E. Back Up Candidate
Keep your back up candidate warm until you have a confirmed acceptance, and the candidate has gone through resigning and a potential counter offer.
Counsel the candidate through the resignation process. Below are suggestions
on how you can counsel the candidate.
A.
The Resignation Letter and Unfinished Project List
Confirm with the candidate when he/she will be turning in their resignation. Review all the issues that will most likely arise in the next weeks.
1.
Suggest the candidate arrange a meeting to notify the appropriate supervisor of their resignation. Ask the candidate to check on the appropriate notice time they are required to give (usually two to four weeks depending on their level).
2.
Along with their letter of resignation they should attach an addendum of all unfinished work projects they are responsible for.
3.
Their supervisor will want to know why they are leaving and the best answer should be, "This is a better opportunity for me. I've made my decision and there really isn't anything to discuss. I've attached an addendum of work projects not yet completed. My plan is to spend my time wrapping them up." Most employees feel the need to explain and justify their decision, which is a mistake. Anything positive mentioned about the new opportunity would be perceived as a negative statement about their current firm. Remind the candidate the goal is to leave in good standing.
4.
If the tutorial process was followed the candidate had already approached the employer about their needs and wants and the employer was either unable or unwilling to correct this.
5.
The current employer will not stop trying to persuade the candidate to stay, with verbal promises of quick fixes to meet the candidates "Needs and Wants," and even using peers to apply pressure on the candidate. Remind the candidate that promises made under these conditions are rarely kept.
B.
How Not To Burn Bridges
Once the candidate gets through turning in their resignation they will deal with peer pressure. Peers will want to know the "where's and why's" of their leaving. To be fair to the present employer, suggest that when asked by fellow employees they simply say, "Joe, I'm going to be extremely busy the next few weeks rapping everything up, why don't we schedule a lunch meeting in a month and I'll tell you all about it then." The candidate's goal should be to make a "neat, clean" resignation and departure, focusing on their transition out and work project completion.
From the candidate's resignation to their start date there should be a process in place to assist the candidate with a smooth transition. Offer a strong Orientation Program with an assigned coach, and a mentoring program for the employee's entire career.
Staying In Touch Until The Start Date
Consider this insurance that your candidate will not succumb to employer or peer pressure to stay at their present position. Call the candidate, at home, once a week just to see if they need any information, etc. (especially if relocation is involved) or just to ask how things are going during the transition. This is a perfect time to introduce the candidate to their mentor. The mentor can also be an open line of communication during this period. Your role is to remind the candidate why he chose to accept your position, and what the new position has to offer them.
Mentor Program
It is essential that you have a mentorship program in place within your company. From the first day a new employee joins the company, there should be regular discussions with them as to how they and you are doing in reference to meeting each other's needs and wants. Mentoring is an ongoing process that should extend throughout the employees career with your company.
A.
Who Should Mentor
A mentor should be a higher level of experience and position than the mentee (Supervisor can mentor a staff person, Director can mentor a Manager). A peer within the department should NOT serve as a mentor. Individuals should not attempt to mentor too many mentees at one time. This will only lead to a lack of effectiveness. The top tax executive should assign a mentor to each new employee based on the level of the new employee, personality match between new employee and potential mentor, and also evaluate who has the time to be a mentor based on workload.
B.
Responsibilities of the Mentor
The job of the mentor is to assure that the company has an open two-way
communication for the purpose of understanding the mentorship needs and
wants on an ongoing basis and vice versa.
1.
The mentor must continually identify the "needs and wants" of the mentee and consult with them regarding the reality of those needs and wants. This should be done on a regularly scheduled basis. Sessions can be scheduled during the day, at lunch or after work. The mentor should probe as to how the mentee is doing and find out if they are happy, as well as provide feedback on how the mentee is meeting the company's needs and wants. It is critical that you get this feedback from your mentee, so if there is a problem, you can address it and correct it early. This is a way to ensure that both parties are working to meet each other's needs and wants as they evolve. Issues such as the challenge of the position in relationship to the employees "needs and wants," compensation, and advancement (again in relationship to the employees "needs and wants") can all be identified and communicated by the mentee. Mentors should never be part of the formal performance evaluation. Their role should be transparent but their impact profound.
2.
The mentor must motivate the department and/or company to meet the changing needs and wants of the mentee, providing their requests are reasonable. The mentor may also have to determine if the mentee should continue to stay. If the needs and wants of both parties are no longer a reasonable match, a parting of the ways may be appropriate.
3.
Don't underestimate the influence of your mentee's spouse on their success. Be sure to plan occasional social events where the spouse is included. If at all possible, have your spouse establish a relationship with your mentees' spouse, which could include an occasional lunch or dinner. This is especially important during the first six months after the mentee comes on board.
In today's fast paced tax arena the demand for skilled talent is higher than ever. Retaining good employees isn't an easy one-step solution. There are actions you can take to continuously improve employee retention, and with each improvement you will keep employees who would have otherwise left. To better understand what the key "employee" issues are within a tax department see Retention Survey.
Suggestion:
A. Mentor Program (see Section XII)
B. Develop a training plan for employees
C. Exit Interviews with each employee that leaves
A.
Mentor Program
See Section XII
B.
Develop A Training Plan For Employees
The mentor should consult and advise the employee on areas where additional training would meet both parties "needs and wants."
1.
Inhouse Training - Establish weekly luncheon training sessions and allow the staff to pick the topics
2.
External Training - Link to Tax-Talent.com's list of Tax Training Events for a complete listing of tax training events in the U.S.
C.
Exit Interview
First you must learn the causes for turnovers. Exit Interviews should be performed with each employee before they leave. We recommend a third party to do this (Tax-Talent.com Exit Interview Service). It is best to have someone conduct the exit interview that the employee will view as more objective. You want as much information from this employee as you can get, so find someone to do the exit interview who the employee will be more open and honest with... be prepared to hear the good and the bad (even if it relates to you as their Manager). You should ask many probing questions, some of which are listed below, before you ask, "Why are you leaving?" If you ask this question in the beginning you will probably only hear a standard canned answer.
Sample Questions
"Did the technical content of the job turn out to be similar to how it was initially presented before the start date?" (Get percentage breakdowns of compliance vs. audit vs. research/planning responsibilities. This information will be beneficial when creating a job profile when refilling this position.)
"What did you think the technical content of the position should be?"
"Did you report to the person you believed you should report too? Did they provide sufficient support?"
"How many hours per week and travel did you put in vs. what the requirements of the position were?"(This would address their quality of life)
"Did the position offer you the future potential you were interested in?" (This addresses their career path)
"Did you feel that the compensation was in line with the responsibilities?"
