COUNTER OFFERS
The aim of counter offers is to convince you to remain in your existing job and decline your new job offer. Is it wise to accept a counter offer?
Counter offers can be confusing and even though a counter offer can be very enticing, generally it’s not the wisest career move to accept one. Statistics actually show that most people who are counter offered and accepted, even up changing jobs within 6 to 12 months.
Counter offers can take a number of firms e.g. an uplift in salary, a promotion, a job title, a change in your role, different work, more or different responsibilities.
Every-one’s situation is unique and the motivators for looking for a new role are personal to you, so it is important to consider the pros and cons of accepting a counter offer. However, below are some reasons as to why accepting a counter offer can be a mistake.
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1.?????Underlying issues aren’t resolved by the counter offer: usually there are several reasons why you want to leave your current employer. It could be work hours, lack of resources, micro-management, unreasonable KPIs, leadership style. An increase in salary can entice you to stay but in 3 months’ time, those same issues will cause you to be unhappy again.
2.?????Your loyalty will be questioned: it does not matter if you have a strong relationship with your employer, if you are receiving a counter offer as a response to your resignation, your loyalty will be questioned as an employee both then and in the future. Resigning breaks the initial trust that was once there, and down the track will probably hinder future success in the job. Moreover, your employer will always be questioning how long you will stay with the company.
3.?????You are not appreciated as an employee: if you hand in your resignation and your employer gives you an increase in salary, it may suggest that you were not fully appreciated in the first place. The counter offer is proof that they could have afforded the increase in salary all along. If it takes you to threaten resignation for your employer to treat you better, you might need to evaluate your employer’s integrity.
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4.?????It may be a long time before you get another increase in salary. Think about it if you were leaving your employer because you were being underpaid and the only way to get an uplift was to threaten resignation, then the odds of getting another raise in the future will be slim.
5.?????If times get tough you will probably be the first to go: when the economy dips, employers will generally hold on to the employees who have shown loyalty rather than holding on to the employee who has been shopping for new opportunities.
It’s very flattering when your employer makes a counter offer. The reality is that recruiting a replacement can be time consuming and costly. It’s more time and cost effective to attempt to attempt to reverse an employee’s decision to leave than to find a replacement with the right skills and cultural fit.?
Although a counter offer can be enticing, it’s important to keep a clear head, take a step back and consider your options. You obviously wanted a change, and your motivation must have been very genuine to apply for new roles, go to interviews and end up securing an offer (or multiple offers). These are not the actions of someone satisfied in their current role. You had checked out months ago.
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If you decide to stay, your resignation will not be forgotten. You might have to strive harder than your colleagues to prove your loyalty as a long-term employee and post resignation may not be easy.
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