Career Corner: Considering a Counter-Offer

You’ve found a new Governance, Risk and Compliance role that you like the look of. You’ve submitted a CV, dazzled your potential new boss across two rounds of interviews, and they’ve made you an offer. You let your manager know that you’re handing in your notice because you’re heading off to this new job – and they make a counter-offer.

What do you do?

Immediately, ask for some time to think about the counter-offer, don’t make an instant snap-decision. There are a lot of factors to consider and you need to examine all of them.

Start with asking yourself why it was you were initially looking for another job. Was it just because you were underpaid? If the salary was the only factor then it becomes a simple question of who is offering more. But the salary is very rarely the full story of why someone is looking at other jobs. Were you being repeatedly passed over for promotion? Were you seeking a greater challenge, more engaging work? Was it a question of a mismatch with the office culture around you? A higher salary provided by a counter-offer isn’t going to fix any of those things, and we find that candidates who accept a counter-offer and stay put are soon on the move again when the reality of their unchanged workplace settles in.

As you weigh up your options, consider the wealth of information you have available about your current workplace, and examine the long-view. Is there a clear ladder of promotions you can work up? How often do people in your division get promoted? What’s the senior team like? Can you see yourself progressing to the top in this company across a large stretch of your career? If you’ve spent a significant amount of time with your current employer, you should have a good idea of what a long career with them will look like, and you need to think about if that’s something you want. What prompted you to look outside of your current company in the first place?

On the other side of the equation, find out everything you can about your potential new employer so you can consider all the factors outside of the base salary. Arrange a conversation with your hiring manager and/or recruiter and drill down on the kind of information that would help you make this decision – How much scope is there to define and grow your role? What are the progression opportunities like and are staff regularly developing and moving up? What are the wider goals of the company, what direction are they moving in and does that align with your personal vision for the future of your career?

That kind of big-picture thinking should guide how you decide to respond. An immediate salary hike is obviously appealing but there are so many other factors that make up your job satisfaction, and it’s important to not push all of those to a side in the moment. You should also think about why has it taken handing in a notice to get this salary increase? So often a counter-offer is a knee-jerk panic-response from an employer realising that you would create a big hole in the team – and they may well decide to manage you out over the next year as they try to find a replacement for your role who will be back on the starting salary. Take the time to gather and assess all of the information, and make the decision that’s right for you, your future plans and your overall career goals.

Come back to the original reason you started looking for another job – it’s almost never just about how much money you’re taking home.

Career Corner: Promotions & Pay Rises

Almost every hard-working professional is looking for career progression. It’s human nature to seek new challenges and, in turn, greater rewards. Yet many people feel very unsure about how to navigate potentially difficult conversations with their managers about promotions or pay rises.

The most important thing in any situation is to be prepared. Why do you feel you deserve the thing you’re asking for? Outline this in a quantifiable way and present evidence – identify specific areas where you have personally made a difference and show what you’ve achieved, ideally with indisputable figures, whether that’s increased revenue or a decreased number of risk incidents.

Try not to lead with vague generalisations (“I’ve worked hard for a long time”) or one-off moments (“I came up this new process”) but instead to build up a picture of how you’ve contributed positively across the previous 6-12 months, highlighting individual actions but linking those together to show your role has been helping the company in an ongoing manner.

If you’re asking for a promotion, you need to have a very clear understanding of how the more senior role differs to your current one. Research the specific responsibilities and requirements of the role you’re asking to be promoted to, and before you even arrange a talk about it, try to demonstrate the necessary qualities in your current position.

Record all of the ways you go above and beyond – and then set out to take that one step further by creating a detailed plan of what you aim to achieve in your first year in the role you’re seeking. Again, focus on hard figures as much as possible – the world of Governance, Risk and Compliance can seem a little more ambiguous than other areas within the Financial Services sector but you need to find ways to quantify your goals and achievements to solidify your case. “Building a positive compliance culture” is hard to measure and therefore hard for management to act on, “reducing customer complaints by X%” is something concrete they can work with,

Finally, when it comes time to have the talk, enter the meeting with a positive attitude. Modern managers don’t want to see an entitled employee demanding more money and power – they want to hear about how you are helping their whole company and want to be rewarded fairly, or how you’re seeking the next rung on the career ladder so you can contribute even more and on a larger scale.

If you enter a pay rise or promotion discussion with a calm, friendly manner, a thorough bank of evidence and a clear position on what you want and why – and you find yourself passed over, brushed off and feeling undervalued? That’s when it’s time to start looking to advance your career somewhere else.

Presentation Preparation

With the specialised, technical nature of many GRC roles, it’s not uncommon for the interview process to include a presentation element. Candidates who aren’t used to presenting can feel out of their depth, leading to them getting nervous and further harming their performance.

As with interviewing, presenting is a professional skill just like any other and with practice, you can perfect it. Here are some areas to think about:

  1. If you’ve been asked to present on something that you’re not already intimately familiar with, do some serious research. If you’re discussing a topic you already know inside and out, check up on any recent developments in the field.
  2. Once you’ve got your information together and organised it into a logical order, practice running the presentation in full. Once you’re talking out loud with your slides in front of you, you’ll probably immediately be aware of points that sound clunky, areas where you’re spending too much time or topics you’ve missed. If you can, rehearse it in front of one or more people you can trust to give you honest feedback on these things – they don’t need to be experts on the subject matter, anyone can tell you whether you’re delivering information in a clear and engaging manner.
  3. You should know your presentation well enough that you’re not constantly looking down at notes. You should absolutely keep notes on hand, and there’s no harm in glancing down to check occasionally, but it’s important to be talking to your audience, not reading to them.
  4. Be careful with current industry buzzwords or complex technical jargon. Some presentation guides will tell you to avoid these completely and convey all your ideas in general easy to understand language. The crucial thing is to get the language right for your specific audience. If you’ve noticed during your initial interview or follow up communication that the company you’re dealing with is very formal and frequently uses technical terms, make sure you’re operating on the same level.

The big thing is to be prepared. Do the work ahead of time, don’t wait until the last minute to throw something together. Remember that if you’ve been asked to present it’s a very good sign that they’re interested in you, so you have every reason to be confident.

[For more tips on interviews and other aspects of the job-seeking process, check out Kind’s Candidate Guides]

Interview Excellence: Five Steps to Success

We all like to think we know how to deliver a killer interview performance, but it can never hurt to review your technique. No matter how experienced you are, a bad interview can seriously damage anyone’s chances of securing the job they want and you can never be too prepared.
Areas to consider include:
  • Punctuality and Timing. There’s more to this than just not being late – although that is crucial. Think about timing when arranging the interview, as far as possible go for a time that allows you plenty of room for error in travel and locating the office. Arriving 10-15 minutes early is polite, any more than that can make you seem disorganised and some hiring managers find a very early arrival extremely off-putting.
  • Be prepared. Know your own CV inside and out – we all think we know our own career history but make sure to have a thorough read of your own resume ahead of the interview and consider any parts of it that might prompt further questions. You also need to thoroughly research the company, if it’s a subsidiary or part of a group study the parent company, the sister companies and the wider business as well.  Have an answer ready as to why you want to join this specific organisation, it’s never enough to just want A Job, be prepared to explain why you think the company is better than their competitors and why you think they’re specifically a good fit for you.
  • Have some STAR examples ready to go. Competency-based interviews continue to be very popular, and for senior candidates who haven’t had to interview for a decade, they can come as a shock. Competency interviews consist of questions in the style of “Describe a time when you achieved a difficult goal, what steps did you take or “Tell me about a time when you failed to complete a task on time”.  Make sure you think through situations where you’ve displayed your best qualities, and organise what happened in terms of Situation, Task, Action and Result, always giving positive reasons for your actions.
  • Ask questions. It’s in every single interview guide for a reason. Turning an interview into a genuine dialogue is a great way of standing out from other candidates, and it allows you to make sure the company is right for you as well as proving you’re the person for the job. Ask for details of the role beyond what you already know. Ask about the team you’ll be working with.  For smaller companies when you’re interviewing with a founder or MD, they’ll relish any opportunity to talk about their business’s values and their work philosophy. If you feel the interviewer will be receptive to it, ask if they have any reservations about you as a candidate. It shows confidence and gives you an opportunity to directly allay any fears they have about gaps in your experience or skill set.
  • End on the right note.  Take the opportunity to restate your interest, tell them that based on what you’ve learned in the interview you’re sure it’s right for you, and ask if there’s anything else they need from you. Make sure to ask what happens next, but be tactful – “What’s the next stage of the process?” shows you’re serious, “When will I find out if I’ve got it?” makes you sound entitled and aggressive.
Interviewing well is a skill just like any other, and it takes practice and research to deliver the best interview performance you can. Be prepared, stay calm and remember that it’s a two-way conversation and that the worst that can possibly happen is an awkward silence.
If you’re seeking career advancement within Governance, Risk and Compliance, contact Kind Consultancy, and our specialist team will help you find and secure the right job for you.
Lynsey Moore
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