Although employee retention concerns continue to mount, a new survey suggests counteroffers aren’t the answer when it comes to keeping the best and brightest. In a survey by Robert Half International Inc. (NYSE: RHI), 78% of chief financial officers said they don’t extend counteroffers to keep employees from leaving.

The survey hints one reason may be because this tactic can have a ripple effect; among the 21% of CFOs surveyed who do make counteroffers, roughly one-third said doing so necessitated raises for other employees in the department.

“Counteroffers are not an effective retention tool,” said Paul McDonald, senior executive director for Robert Half. “Offering more money to someone to prevent him or her from quitting doesn’t typically solve the issue that prompted that person to resign in the first place. It can, however, upset the company’s salary structure, prompt loyalty concerns and foster resentment among the rest of the team who may feel that they, too, must threaten to quit to receive a raise.”

The survey is based on interviews with more than 2,200 CFOs at companies in more than 20 of the largest US markets.