The Counter Offer - Worth Considering?
Posted on Wednesday, August 27, 2014 by Nick Bynoth — No comments
You’ve decided to change jobs. It was not an easy decision. A lot of thought went into it but you finally decided that now is the right time for the next move in your career.
You’ve put together your CV, spoken to people you know within the industry, updated your LinkedIn profile, registered with a couple of well-chosen recruiters, applied for jobs, taken time off from your busy workload to attend interviews, sweated over presentations and interview preparation and after months of effort your dream job offer has just landed in your inbox. It’s time to give notice…..
But now, the MD wants a word……..
The counter offer from someone’s current employer is one of the most common reasons for turning down a job offer.
A higher salary, enhanced commission structure, more flexible hours, the promise of extra responsibility or career development, a better car and perks. The counter offer can take lots of different forms and can seem very attractive but should you take them seriously.
What is the motivation behind a counter offer? Why are you suddenly worth more today than you were yesterday? Why did you have to give notice in order to be appreciated? What does it say about how your company sees you and how will they think of you in the future?
What has really changed?
Counter offers are flattering and can seem tempting. It’s the easy way out, the path of least resistance. Stay where you are, selling products that you know to a customer base that you are familiar with and earn more for it. Why not?
Sounds good…..but what’s the downside.
Firstly. Why did you decide to change jobs in the first place? Has the counter offer dealt with the reasons?
If you decide to accept a counter offer from your current employer you may well find yourself feeling just as dis-satisfied in a few months’ time because the original reason will still be there.
Sure, the extra money, longer holidays etc. will all make it feel better in the short term but whatever prompted you to start job hunting will still be there and…..six months or a year from now you will likely regret your decision.
Does this mean that you should never accept a counter offer?
Absolutely not. But….accept it for the right reasons, take the time to think about why you were unhappy and ask yourself if those reasons have really been addressed. Has your boss really listened to and addressed your concerns or have they just come up with a short term fix to keep you on the team while they plan how to cover the situation next time you hand in your notice.