HOW TO HANDLE A COUNTER-OFFER

Celebrating International Women's Day with Louise Shute

In celebration of International Women's Day, we continue our series by highlighting the inspiring journey of female leaders in finance who are making a significant impact throughout their career.In this installation we are thrilled to feature an interview with Louise Shute, the Chief Financial Officer of Hollybank Trust, a not-for-profit care provider dedicated to supporting individuals with complex needs. Since joining Hollybank Trust in 2019, Louise has been instrumental in driving financial sustainability, operational efficiency, and strategic growth. Her leadership goes beyond numbers, focusing on ensuring that every financial decision aligns with the organisation's mission to provide outstanding care. Join us as we dive into her career-defining moments, the traits that have contributed to her success, and her invaluable advice for the next generation of female finance leaders. 1.Please can you provide a summary of who you work for and your current role?I am the Chief Financial Officer of Hollybank Trust, a large not-for-profit care provider that delivers specialist care and education to individuals with complex needs. Since joining in 2019, I have been responsible for overseeing finance, IT, estates, and HR, ensuring financial sustainability, operational efficiency, and a strong, well-supported workforce. My role is not just about numbers—it’s about making sure every financial decision supports the organisation’s mission. I work closely with the executive team and trustees to strategically plan for the future, secure funding, and drive initiatives that enhance the care we provide. This includes leading acquisitions, driving digital transformation, and optimising resources to ensure we remain sustainable and continue to deliver outstanding care in an increasingly challenging financial landscape.2.What have been the one or two most defining moments in your career to date?A few pivotal moments have shaped my career and leadership style: Building a finance function from the ground up – One of my most challenging and rewarding experiences was setting up an entire finance team from scratch for a large care group. Bringing the finance function in-house, creating new systems, and ensuring financial stability in a complex organisation gave me invaluable leadership experience. Leading an acquisition – More recently, I successfully led the acquisition of a care business, ensuring financial due diligence, securing funding, and integrating the new business into our operations. This was a defining moment in navigating the complexities of growth while maintaining financial security. Driving digital transformation – Overseeing our transition to a nearly paperless organisation has been a major milestone. Introducing new financial, HR, and operational systems has made us more efficient and forward-thinking, ensuring we are well-equipped for the future. Beyond these, every year brings new challenges in the not-for-profit and care sector, where funding is tight, costs are rising, and financial sustainability is an ongoing battle. Navigating these challenges while keeping the organisation strong and adaptable is something I take pride in.3.What are the most important personal traits, values or characteristics that, being a female finance leader, has really helped to contribute to your success?Leadership isn’t just about making decisions—it’s about bringing people with you. The qualities that have shaped my success as a finance leader include: Compassion and genuine interest in people – I care about my colleagues and take the time to listen, understand their perspectives, and create a supportive environment. Decisiveness and resilience – In finance, tough decisions need to be made. I can balance strategy with reality, ensuring we remain financially stable while protecting the organisation’s core values. Strong communication – Finance can sometimes feel like a separate world, but I ensure complex financial insights are communicated clearly to teams, trustees, and stakeholders so they can make informed decisions. Positivity, even in difficult times – The financial landscape for care providers is constantly evolving, and it’s easy to focus on the challenges. I believe in staying solution-focused and adaptable, ensuring we embrace change rather than fear it. A positive outlook helps to motivate teams, find creative solutions, and maintain momentum even during difficult periods. I wouldn’t say I’ve faced direct challenges as a woman in finance, but finance leadership remains a male-dominated space, especially at board level. Many women struggle with imposter syndrome, and I think it’s crucial to own your expertise, trust your ability, and bring your unique strengths to the table.4.What is the one piece of advice that you would share with the next generation of female finance leaders as they look to build their careers?My biggest piece of advice is: do what makes you happy. You spend so much of your life at work—it’s essential to enjoy it. If you don’t, don’t be afraid to seek out something that challenges, excites, and fulfils you. Beyond that, a few key lessons I’ve learned: Be true to yourself. Work for organisations that align with your beliefs, morals, and values. Build a strong team. Surround yourself with capable, driven people—it will make all the difference. Keep learning. I haven’t had an official mentor, but I invest in seminars, courses, and networking to continuously grow. Finding a mentor or widening your professional network can be invaluable. Stay adaptable. Finance, technology, and the business landscape are evolving rapidly. Staying open to change and embracing new ways of working will set you apart. Above all, believe in yourself. Women often doubt their abilities more than men, but confidence comes from experience. Keep learning, keep leading, and don’t be afraid to step up and take your seat at the table.Louise’s journey is a testament to her power of resilience, compassion, and strategic vision in leadership. Her dedication to Hollybank Trust's mission and her ability to navigate the complexities of the not-for-profit sector have set a remarkable example for aspiring female finance leaders. Her advice to stay true to oneself, build strong teams, and continuously learn resonates deeply, reminding us all of the importance of passion and adaptability in our careers. We hope her story inspires and empowers the next generation of women to pursue their ambitions with confidence and determination. While women are making strides in leadership roles, a significant gender gap still exists. In 2024, 36% of new CFO hires in FTSE 100 companies were female, a notable increase from 2023 when only 14% of new hires were female [1]. Despite this progress, women hold only 25% of CFO positions in the FTSE 100 [2]. These statistics highlight the ongoing need for greater gender diversity and support for women in finance. Looking for your next career move in finance or accountancy? At Sharp Consultancy, our expertise lies in matching your potential with the perfect temporary, interim, or permanent position. With a well-established presence in Leeds and Sheffield, our seasoned team of consultants extends their services across Yorkshire and beyond. Don't wait for opportunity to knock, reach out to us TODAY and let's chart your career path together.

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Retaining top talent is a challenge for any business; what do you do if your current employer responds to your resignation with a tempting offer to stay? And if you are an employer trying to recruit a new team member, how do you ensure that your preferred candidate accepts the role?

What to do if your current employer tries to get you to stay…

Think about why your employer has waited until you said you were leaving to offer you more money or a promotion. Do they recognise the value that you bring to the organisation and if not, why not? If they do, have they been taking you for granted and would you be better off starting afresh elsewhere?
What is the relationship like between you and your current boss? If you stayed, how do you think this relationship would be affected?
What were your reasons for looking for a new role? If your current employer is offering you more money, does this change any of those reasons or will they arise again a few months down the line?
Recruiting new staff is a time consuming and often expensive process so it is understandable that your employer wants to retain you and may offer a higher than market rate salary to ensure you don’t leave. However, if the issues that made you look for a new role in the first place still remain, you could find yourself priced out of the market should you decide that you do need to move on at a later date.
Are you prepared to give your current employer the opportunity to address your concerns? Are they willing to listen to your reasons for leaving and can they put workable solutions in place? What value do you place on your relationships with your colleagues and clients? Do you find that the culture of your current workplace matches your own values and outlook?

How to avoid a counteroffer being made to your chosen candidate…

Ask why they want to leave their current role. Try to get a clear idea on their motivations and understand more about what they are looking to gain from a move. If their reasons are solely focused upon achieving a pay rise or a promotion you may find yourself in a bidding war further down the line.
Understand the market rate for candidates at each particular level; whilst you need to present an attractive salary package, you do not want to be paying an inflated rate for someone who may not be able to deliver what you need. And ensure that you highlight other benefits and conditions which will have a perceived value such as flexible working, option to buy additional holiday and subsidised travel.
Remember that the interview is a two-way street and it is as much about you selling the role, company and opportunity to the candidate as it is about them showing that they are best person for the job. Listen to their reasons for looking to leave their current role and demonstrate how you can help them achieve their ambitions.
Move at a timely pace. Speed can often be of the essence when it comes to securing your preferred candidate – once you have made the decision, move quickly through the stages and ensure references and any paperwork are actioned quickly. Keep in touch with the candidate or recruitment consultant so there’s no opportunity for them to doubt that you are having second thoughts.
Put your best offer forward at the outset so you don’t leave the door open for a counteroffer to be made. In the same way that questions will be asked of a current employer, if you are only increasing your offer because a counter has been made, it may not reflect well on you. If you do find yourself in a bidding war over a candidate – either with their current employer or because they have received another job offer – know when it is right time to walk away; you want people who are keen and enthusiastic about the opportunity you are offering.

Sharp Consultancy specialises in the recruitment of finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for temporary, interim and permanent roles across the full spectrum of positions throughout Yorkshire and beyond. CONTACT US today and speak to a member of our team about your next career move.