No business owner wants to lose a valuable employee. But if that employee resigns to accept another company’s offer, evaluate the situation thoroughly before making a counteroffer. Some experts say that if an employee resigns, it’s best to look for a replacement. That’s because most of the time, money isn’t the sole reason an employee looks for another job. He or she could have a personality conflict with a direct supervisor, a draining commute, or a stalled career—problems that won’t go away with a raise. Other hiring experts say that counteroffers provide a way to retain employees and avoid the expense of hiring a replacement. Before deciding the best path for your small business, read on to hear what our experts have to say.
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