Counteroffers

When leaving a current position, one should be prepared for a counteroffer from their existing company. In essence, a counteroffer is a proposal made by your existing employer in reaction to another offer you have received. These counteroffers will normally try to beat the offer you received with higher salary, better benefits, more paid time off, and other perks you may have not received before. It may seem fantastic at first, you would be able to stay at your current company while receiving these great bonuses! While it may seem great on the surface, they value you and want you to stay, counteroffers are risky and almost always wind up with you eventually leaving that company anyway, and it’s best to accept the original offer you received. While everyone is different and has different considerations, a few things to think about when pondering a counteroffer include:

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Loyalty/Relationship

The relationship will change if you choose to accept a counteroffer and continue working for your existing employer after deciding to leave. No matter how positive the prior relationship was, your allegiance will constantly be called into doubt. Unfortunately, this can impede your professional development at this organization, as future promotions might go to someone they perceive as being loyal. Additionally, the prospective employer you were going to work for was thrilled to have you, but now that relationship is damaged, it is doubtful they will be able to hire you in the future.

Long-Term Implications

One must take into account a few long-term effects. Professional development is the first and most important. Several important inquiries regarding professional development to ask oneself include:

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●????What is the highest position I may possibly hold at this business?

●????Will I still get promoted, or will this stop my advancement?

●????After wanting to go, do I see myself staying here permanently?

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The safety of a job is another long-term effect. Your devotion will be questioned, as previously indicated, and if you accept, you probably won't stay more than a year. Last but not least, if you accept the counteroffer and opt to stay with the company, will you be the first to be fired if there are future layoffs or downsizing as you were already planning to?

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Underlying Issues

A counteroffer may appear alluring at first, but it frequently fails to address the fundamental problems or the reasons you were considering leaving. In the long term, receiving a raise won't make much of a difference, particularly if you leave this company after only a year. It's critical to sit back and consider everything that has transpired up to that point if you get a counteroffer. Will this resolve every issue you were having before? Will you now have more obligations than you had originally planned? It's crucial to consider these problems and not accept anything right away. It is almost always more advantageous to leave the existing employer and pursue the next opportunity.

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There is no "correct" response when it comes to the subject of counteroffers, but it's crucial to pause and consider it for a moment before accepting it. Make the choice that is best for you and your career by considering where you want to be in 5, 10, and 15 years from now, and make the decision that’s right for you!