How to deal with a Counter Offer

In today’s environment, skilled specialists are in high demand, and their departure for roles with greater opportunities poses challenges for their current and former employers. This has led to intense competition among employers to attract top talent and retain their existing. As a result, counteroffers have become more commonplace in recruitment processes, wielding significant persuasive power and often causing candidates to reconsider their reasons for leaving.

It can be difficult for those who are actively seeking a new role to know if the new role they have invested time into, is worth moving for. I’ve seen counter offers at all levels from entry level roles through to C-suite and know first-hand the predicament and stress it can cause candidates.

You may have heard the phrase that 'finding a job is a job in itself.'

What happens when you commit to a search, you find your dream job, but you’ve (unexpectedly) been counter offered to stay in your current position? This presents you with a dilemma which makes you question all of your original motives, and ultimately what you should do.

It’s no wonder that counter offers (or buy backs as they can be referred to) are becoming harder to turn down. They often deliver the promise of more money, more autonomy, a new portfolio and a new challenge at the comfort of a familiar firm. ?

Why am I being counter offered?

You are an asset to the firm and you’re difficult to replace, so why are these promises being delivered when you are leaving?

Why has your career not been enhanced when you are loyal to the firm, as opposed to when you have decided to leave?

Everything you ‘think’ you want?

In some cases, a counter offer is a genuine plea for someone to stay and it can work out for the best, with you and your employer living happily ever after! In most cases the harsh reality is, that it’s for convenience.

The hassle of finding a replacement, training them and embedding in the firm can be very inconvenient for employers and so they will do what they can to keep you.

What should you do?

Ask yourself this question; what prompted you to start your job search, what are your reasons for leaving. At the beginning of your search, understand your objectives, reasons for looking and write them down. And remind yourself of these throughout the process.

These reasons should be at the forefront of your mind when you resign – they are after all what led you to put in the effort to find your next career move.

Counter offers are flattering, there is no denying it – but irrespective of the motivations of your employer wanting you to stay, remember your reasons for leaving! Once you have the counter offer, do give your employer the respect they deserve and listen to what they have to offer, then:

• Assess the counter offer vs new role and see which suit your motivations and career aspirations
• Communicate with your potential new employer and tell them the situation
• ?Speak to someone you trust or a third party to gain their perspective
• ?Do not stay for comfort! Why did you start looking?