Bidding Wars Should you match an offer an employee gets from another company?
Opinions expressed by Entrepreneur contributors are their own.
Competition for good employees is strong, so don't besurprised when your top people get offers from other companies. Thequestion is, Should you try to match or beat those offers? Only ifit's someone who's critical to your operation, says AlanWeiss, president of Summit Consulting Group Inc. in East Greenwich,Rhode Island. "You've got to make sure it's ahigh-value employee," he says. "Otherwise, don't doit."
Keep in mind, there's a strong likelihood that the issueinvolves more than just money. Before you make a counter-offer,Weiss says, "make sure it's a matter of money and notother things. If they're leaving for less than a 15 to 20percent increase, it's not the money; it's somethingelse-they don't feel like they have a career opportunity, theydon't like the boss, whatever."
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