Should you accept a counter offer?
You’ve finally plucked up the courage, you’re in your boss’s office and you’ve just handed in your notice as you’ve received a fantastic new job offer which you’re going to accept. It’s an exciting position – more responsibility, a new challenge; somewhere you can really develop. But your current employer plays their trump card, and make a counter offer. They’ll match, or even beat, your new offer in terms of salary and conditions.
So, what do you do? You now have two job offers on the table…which one should you take? Well, many people would be extremely tempted to take the easy route and accept the counter offer. However, statistics show this is likely to be a mistake! According to The Guardian, it is thought that over 60% of people who accept a counter offer are back on the job market within six months.
In some cases, accepting a counter offer can be a good move. But before you jump in and say yes, it is important to look at the pros and cons of each of your offers.
1. What caused you to look for a new job in the first place?
Maybe your current job role wasn’t challenging you enough; were you ready to step up and take your career further? It might be that you were frustrated, and that dissatisfaction led you to seek a new opportunity. Unless the sole reason for you looking for a new job was a higher salary, it is unlikely that any of these other reasons are going to change. Chances are, within a few weeks of accepting the counter offer these other reasons will still exist.
2. Resentment
Once you’re back in the same role it could be likely that negative thoughts are creeping in. Did they only give me the pay rise because I handed my notice in? Why wasn’t I valued before this? It could make you wonder why you didn’t deserve this raise before – shouldn’t your amazing work and skill be enough for them to appreciate you?
3. You’ve already accepted a new offer
Let’s not forget this new job offer you have worked hard for – you’ve accepted it and are ready to go. It doesn’t look too professional to then change your mind. It could make you look indecisive and unreliable, and could ruin your chances at the company should you ever want to work there again.
If you find yourself in this situation, wondering what to do when a counter offer is on the table, make sure you take a step back and think objectively. Where do you want to be in your career, and what company can get you there?
If you’re considering a change of roles and wish to discuss our available opportunities, as well as career advice and how best to prepare for counter offers, then get in touch today on 01489 774 010 to speak to a member of the Highfield Professional Solutions team.