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You’ve accepted a new job offer and resigned, but now your current employer has counter-offered. So, what should you do?
Before you accept a counteroffer, think about why you wanted to leave in the first place - it’s almost never about money alone. In general, the reason people accept counteroffers is because of the money on offer, and they don’t consider what the new opportunity can offer them that their current job can’t or hasn’t.
The key to deciding whether to accept a counteroffer is to think objectively and long term.
Although the money might seem like a good reason to stay right now, it might not be as appealing after a few months.
Whether it's uncooperative colleagues, a lack of career progression opportunities, or an unhappy work environment, there are many reasons people may want to leave a job. And, like we said, it’s not always about the money.
According to a national survey of employees that accept counteroffers, around 70% voluntarily leave their employer within a year of accepting the counteroffer. That’s a lot of unsatisfied employees.
Even though counteroffers often look like an attractive option, there are many reasons why you should think twice about accepting them.
Nothing changes except your salary. The underlying issues that prompted you to consider other job opportunities will remain – things and people don’t change overnight.
Consider whether there really is the progression that’s being offered….look around you at your peers.
Loyalty will now always be questioned, and this could affect your long-term future.
Does the job really offer you your long-term goal?
Counteroffers are usually just a stalling tactic to give your employer time to find your replacement at a lower salary.
If your employer is willing to adjust your salary when you “threaten” to resign, then your employer is knowingly underpaying you for your talent and efforts, which is an indication of non-appreciation of their employees.
Does this mean that your next salary review will now be delayed or in fact disregarded?
The same circumstances that now cause you to consider a change will repeat themselves in the future, even if you accept a counteroffer.
Protect your reputation…it’s a small word.
When promotion time comes around, your employer will remember who was loyal and who wasn’t.
When times get tough, your employer will begin the cut back with you.
At the end, if you decide to accept the counteroffer, our advice is to get everything you want in writing from your current employer, set up regular meetings to discuss, and set realistic timescales.