Counter-offers

Counter-offers

Let’s say that you’ve recently accepted a new role and you’re excited about what’s to come. 

Now, there is still the small task of handing in your notice at your current employer…

What happens next?

You give plenty of notice and say thank you for all the opportunities and experience you have been given. But before you know it, a counter-offer is landed on you!

One that could include more money, better work, or both!

In today’s competitive industry we are seeing more and more employees being presented with a counter-offer when they hand in their resignation.

What you do next will have a long-lasting impact on your career.

Take a moment to think about the reasons you have been searching for a new position, will the counter offer really address your issues? Although it may seem like a quick fix, will you really benefit in the long run?

“50% of candidates who accept counteroffers are actively looking again within 60 days – all sectors” (Source: UK Recruiter)

Retaining staff is always in an employer’s best interest, so when your notice goes in you can expect to see an incentive to make you stay. Although change can seem daunting, there are some important factors to consider;

1 – What are the reasons behind their counter-offer? Are they in YOUR best interest?

Do they have financial concerns? It’s much cheaper to keep an employee by offering a pay rise or promotion than it is to recruit and train a new member of staff. You can certainly expect this to be a contributing factor.

This doesn’t change the reasons why you have been unhappy at work and gone to lengths of attending interviews and securing a great new opportunity!

2 – Trust

Your employer’s opinion of you may have changed a lot! If you have been looking for a new job, you can expect your employer to see you differently in future situations. You’ll have to prove your loyalty and commitment to the company – especially if you only stayed for a pay rise or financial benefits.

3 – Why did you want to leave in the first place?

There would have been reasons why you were looking to leave. It could have been salary, the role and responsibilities, progression, company culture, boredom, bonuses, working hours and the list goes on! Will these issues really be resolved if you stay?

4 – Pay rise? Why now?

If salary is your main motive, why has it taken the threat of you leaving for them to meet your expectations?

Do you want to work for a company that doesn’t reward employees for their work but only to try and make them stay?

If you accept the counter offer, don’t be surprised if you’re overlooked for a while when it comes to future salary reviews and promotions.

Remember, the role you are moving to is a starting salary, not the end salary!

5 – The new job

Don’t forget, if you accept a counteroffer, you will also have to break the news to the company which has taken time and made an effort to meet with you.

By staying with your current employer, you consequently must turn down a job you’ve already accepted. This will certainly hamper any future opportunities with that company.

Taking the next step

Handing in your notice and moving on is scary, and at times it can seem easier to stay with your current employer. Remember the points above when going through the process and always feel welcome to contact us for more advice