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Simply by giving more lucrative offer.
While it is true that the employee would have weighted his/her options before submitting an official resignation, an employer may still be able to retain him/her.
It's is important to first gauge the reasons and actively listen to the concerns of the employee in question. This will give you insights about his/her priorities with the job. It could be the current job designation, growth opportunities, work culture, compensation, etc.
At this stage of the discussion as an employer you have to be calm and direct. You have to make sure you showcase the positives. The fact the employee has spent some tenure with the company can be used to persuade the employee. A professional always know the importance of tenure with a company.
Regardless of the interest/response the employee shows with the discussion, we should come across as forthcoming and respectful towards his/her final decision.
Once the employee submits his resignation letter, you need as a superior to talk to him and to check with him what the reasons behind his decision are. in a lot of cases it’s a waste of time to try to motivate when he submits his resignation since there is a lot of thinking before he do it.
but you still can talk to him directly and explain to him how his role has an impact on the operation of the company. You can also check with him if there are any tasks that are causing this decision.
Big companies always talking good care of employees’ retention. Since the cost paid to take the new employee up to the level is restored by the achievements and the value that he is adding in his position whatever it was.
So, all the motivation that is needed to be done - from my point of view – should be before any official resignation.
by attaching a new job offer letter(better than the existing one) with that resignation letter.