It’s a real blow when valuable workers hand in their 2 weeks’ notice. Whether you had your suspicions or the resignation came out of the blue, you feel like you have to take action pronto—especially if those leaving are key players and have extensive knowledge of the company.
But recruiting and training skilled professionals takes significant time, money, and effort. To avoid these hassles, it’s not surprising employers have resorted to making counteroffers for years in order to retain employees. But is that really a smart move? Let’s look at some data points.