Should you accept that counteroffer?
Leaving your job seems quite simple once you hand in your notice, right? Well, what if your boss decides to throw a spanner in the works and gives you a counteroffer.
Before you even think about the offer consider:
• Why are they only offering this now?
• Did your boss not realize you were unhappy? Or are they just keeping you whilst they look for someone else?
• Do they value you as an employee?
Why they’re giving you a counteroffer?
90% of candidates that accepted the counteroffer are no longer employed with the same company in 6 to 9 months later, according to a study by Martin Varnier Research (Wall Street Journal).
The common issues of a counteroffer
- Nine times out of ten, it’s to save themselves, not because they value you as an employee. You, deciding to leave reflects poorly on them and questions raised as to what was done wrong.
- Budget will also come into things, it’s expensive to replace someone especially a high-level employee. It’s cheaper for them to give you a counteroffer whilst they look for your replacement.
- If you do accept the counteroffer don’t expect things to go back to how they were. When your boss finds out you’re thinking of leaving the trust will be lost and can also be lost with a colleague too.
- If you are leaving to find better conditions or benefits, then your potential employer isn’t where you should stay long term. A well-managed company should be able to communicate any issues and take steps to rectify this before a counteroffer is even considered.
It shouldn’t be necessary for you to have to threaten to leave to receiver the conditions you need. Will you have to do this every time? Not really a realistic thing for you to do.
Consider some of these questions
It is easy to stay in a company that you know with people that you know, rather than moving onto to something new. Also, if they know you well enough, they’ll also know how to get you to stay.
- Does the counteroffer address the reason you are leaving?
- How badly is the trust broken?
- What do you want out of your career and the next steps?
- How well do you handle change?
Reasons to accept
- The offer addresses the reason you’re leaving
It is rare that someone wants to leave solely because of the salary. But if that is the reason, you’re leaving then it’s an excellent reason to accept. If you are unhappy with the conditions or benefits and counteroffer isn’t likely to change that. An offer will only change the surface-level aspects. - Security
It will most likely be a more stable choice. There won’t be any changes, so if you like a routine, this could be a reason to stay. However, if you are unsatisfied with your job role, then a change would be best, especially if you want to develop your career.
Relocation
If you get an offer which means you must locate but you and your family enjoy where you live to sacrifice this might not be worth it. In this case, the counteroffer is in your favour and would be better if you accepted.
So, should you accept the counteroffer?
The second you express you want to leave your employer might start looking for someone new. Nothing is keeping them from letting you go. If you have accepted an offer elsewhere you could be burning bridges for a new opportunity if you decide to take the counteroffer.
Whether you choose to stay or leave, it should always be best for you. Evaluate why you want to leave, before the counteroffer. Ensure that you can grow, whichever your decision is. Think through your options carefully, but also follow your gut.
Check out our latest blog on 6 Ways to have the right tone in your interview
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