Often when one of your employees hands in their notice after having been offered a position with another company you may be tempted to ask them to stay - this is also known as a counter offer.
Often you will offer them-
Whilst at the time this may seem like the best solution - it is not always a positive thing.
Are they Worth it?
Whilst in the short-term it seems like a more cost effective way than to go through the whole process of hiring someone else this is not always the case. If you didn't think that person was up to the job in the first place the chances are that they aren't.
Think about the reasons why the candidate wants to leave the company-are any of those reasons going to change long term. In the short term you can fix those feelings of restlessness, however eventually they are going to come back. 80% of candidates accepting counter offers will leave or are asked to leave within 6 - 12 months of initially handing in their notice.
It is also important to think about the opportunities that could arise with the prospect of a new member of staff. If one of your employees is getting restless the chances are a few others will be too. By bringing in someone new with fire in their belly, looking for a new challenge you can inject some of this enthusiasm into your current employees. It may seem like a costly exercise in the short term, however in the long term it will end up being the cheaper option.