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There is no doubt that Counter Offers made by Law Firms to their existing Employees have become increasingly prevalent in this current market and can almost be described as an ever growing 'predictable' trend. This reaction has been spurred on because a vast amount of quality Law Professionals have been made aware of their ‘market value’ and subsequently (more often with a sense of guilt) have been naturally tempted to interview at other firms willing to pay their worth.
Undeniably this contentious subject warrants some attention. Let's question the thought process behind the endless counter offers Employers readily dish out when they are faced with their 'valued' Employee's resignation."Counter Offers…are they genuine 'late' gestures of appreciation to Employees or simply 'well timed' pay rises in disguise?"
Interpretations of this may vary but surely it is a valid question to ask? Why is it at the point of their resignation, and only then, that these hardworking Lawyers are deemed worthy of receiving a salary review? Some manage to get a well-deserved pay rise! The question is why are firms continuing to play such a risky game? Where is the logic in this especially when their Lawyers continue to plump up the firm’s figures...?
It is a topic that continues to cloud even the smartest of Lawyers decisions. Incredibly what was initially a definitive decision to move on now takes a sudden turn and some Lawyers receiving counter offers even perceive this gesture as flattery!! The outcome of this has at times resulted in Lawyers choosing the ‘safer’ option and subsequently deciding to stay in their current firms.
On reflection are Counter Offers simply proving to be a waste of everyone’s time? Ultimately the only outcome that is ‘crystal clear’ is that Lawyers deciding to stay can almost certainly wave goodbye to another rise for the foreseeable future!
Written by Brenda Shanahan.