You received a counteroffer — should you take it?

You have accepted an exciting new position after weeks of interviews and tendered your resignation. Whew! The hard parts are over. Or so you thought. A couple of days later your boss calls you into their office and presents you with a counteroffer. What now?

Before you make any decisions, ask yourself the following questions:

WHY DID I WANT TO LEAVE?

Compensation is almost never the sole reason for deciding to resign. When contemplating a counteroffer, reevaluate all the reasons that prompted you to passively explore other job opportunities in the first place. Does the counteroffer address those concerns, or does it merely provide a band-aid in the form of a salary increase?

WHY AM I CONSIDERING STAYING?

Our initial response to receiving a counteroffer can be emotional and impulsive. A salary increase and/or promotion can make it hard to remember why you wanted to leave in the first place, as you’ll likely experience a great deal of satisfaction at feeling wanted and in-demand. Moreover, the unknown can be a bit scary, and many are fearful of change. Take some time to carefully consider your options before making your decision. Writing out a pros and cons list can be beneficial as it is a simple, but powerful decision-making tool that will help you remove emotion from your decision-making process.

WILL ACCEPTING THE COUNTEROFFER MAKE ME HAPPY?

If the prospect of taking on a new, more fulfilling role has you feeling eager and excited, then that is a telling sign that you should reject the counteroffer. While sticking to what you know may be tempting, you may end up with feelings of regret for not seizing the new opportunity.

WILL I BE TRUSTED??

The cat is out of the bag and your employer now knows you have gone in search of greener pastures. If you stay, your employer will likely question your loyalty, both now and in the future, as you have already demonstrated your willingness to quit. And moving forward, you may be viewed as less committed, which of course can have negative implications. It is important to consider how you will overcome your questioned loyalty, or if it is possible at all.?

HOW WILL I BE PERCEIVED BY MY COLLEAGUES??

Your colleagues may have a negative response upon learning that you’ve considered leaving the team. People will feel jilted, even if you stay. Trust and acceptance among your immediate colleagues may be irrevocably lost. It is possible they may even feel resentment for not receiving the same benefits as you.?

WILL THE SCOPE OF MY RESPONSIBILITIES CHANGE??

An increase in salary often comes with higher expectations. You may be asked to take on more responsibility or work longer hours to justify your raise. If your initial reason for seeking out a new opportunity was because you felt you were not being compensated fairly for work you were already doing, you may end up in a similar circumstance shortly after accepting a counteroffer.?

HOW WILL MY FUTURE WITH THE COMPANY BE AFFECTED??

If your counteroffer includes a salary increase, consider the source of the raise. Are you simply receiving an advance on a raise you would have received in the future anyway? Will you be given a raise at all on your next review? Remember, companies have budgets that include stringent salary guidelines.?

Furthermore, managers have long memories and likely won’t forget your lapse in loyalty. Accepting a counteroffer could stifle your career and you may be overlooked for promotions in the future.?

IS THE COUNTEROFFER GENUINE, OR ARE THEY BUYING TIME TO FIND MY REPLACEMENT??

It is vital to consider whether your employer genuinely wants to retain you, your skills, and your expertise, or if the counteroffer is a short-term solution while they locate and select your replacement. Recruiting can be a lengthy and expensive process; typically taking much longer than the standard 2-weeks’ notice that is given when a position is resigned. Vacant positions disrupt business and cost money in other ways too, including lost productivity costs and negative impacts on employee engagement and morale. So, before you accept a counteroffer, make certain they’re keeping you for the right reasons.