Only people who have not experienced the above situation would say that it doesn’t exist.
Search and selection
The Company, looking to build its operations in an overseas country, has created a new position of General Manager. The Company undertakes a full briefing with a specialized Consultant of the Executive Search Firm which focuses on searching for suitable candidates. From an initial list of 50+ prospects, five candidates with experience in agreed sectors of interest are shortlisted, plus a candidate referred directly by the Client. Initial interviews are undertaken virtually with final face to face interviews conducted at the company premises.
The Client and Search Consultant hold some discussions regarding a proposed salary package for the preferred candidate. The offer is subsequently made to the individual who gives a verbal commitment that he is happy with the offer. The candidate is then scheduled to attend overseas meetings with his direct Line Manager and at the conclusion of the meetings, takes the opportunity to notify his Manager of his intentions and tenders his resignation.
However, clearly not wanting to lose a valued employee, the candidate’s employer makes an attractive counter-offer. It creates a new position of Vice-President which carries an enhanced and attractive salary and benefits package and asks the employee to give the offer serious consideration before making the decision to leave.
The candidate evaluates the pros and cons of both offers, liaising closely with the Search Consultant who undertakes a comparison of both integral projects (new responsibilities and challenges domestic & global, the business sectors where both companies are tied to, professional development as well as compensation packages). Clearly, professional career decisions should not be rushed or taken lightly and must be looked at rationally, taking into account a number of considerations.
Keen not to lose the candidate, the decision is escalated to the CEO who is prepared to make an upward adjustment to both the salary and benefits package. A hiring bonus is also included, together with a parachute payment which protects the candidate for a period of up to three years in the unlikely event that his position was terminated, for no fault of his own, within the three year timeframe.
The decision has been made
The opportunity to work in the sector in which the Client is focused, allied to the national and international responsibilities which the new challenge represents as well as the attractive offer which signified to the candidate how keen the Company was to secure his services all led to him making the decision to accept the offer. At the same time, he left his existing employer on good terms and served his full notice period, during which time he was able to successfully conclude the projects on which he was working and to hand over his workload professionally and thoroughly to his colleagues.
Article written by Jorge Segovia, CFR Global Executive Search Mexico