It’s always tempting to accept a counteroffer from your employer when you have been offered another role – better the devil you know! But remember, there is a reason you are looking for a change and these are the key things to consider before you accept……
Statistic – 70% to 80% of people who accept counteroffers leave/are let go within a year
Why the counteroffer?
Your company may have made the counteroffer in panic, desperately not wanting you to leave because of the headache it would give them to replace you. However, the consequences of that may make them think that maybe you are not 100% committed to the company. It often changes your relationship forever and sometimes your standing with the company. You are no longer part of the inner circle, and you might be at the top of the list if your company needs to make cutbacks in the future.
Remember the reason you wanted to leave your organisation in the first place
There’s a reason you started job-searching. Whilst more money is always a motivator, more often there are other factors that drove you to look elsewhere. Personality fit, dislike of your boss, boredom, lack of recognition, insane deadlines and so on. Those factors aren’t going to change. And it will likely start bothering you again as soon as the glow from your raise wears off.
Think about what it took for you to get a pay rise
Even if you get more money out of your company now, think about what it took to get it. You needed to have one foot out the door to get paid the wage you deserved. And there’s no reason to think that future salary increases will be any easier. The next time you want a raise, you might even be refused altogether on the grounds that “we just gave you a big increase when you were thinking about leaving.”
Think about your reputation with the potential new employer
If you go all the way through their hiring process only to accept a counteroffer from your current employer, the new employer is going to be very wary of considering you again in the future, and if it’s a really good company, you might be shutting a door you’d rather keep open.
Of course, there are times when accepting a counteroffer makes sense and works out but be sure that it is 100% the right decision for you. And make sure before you apply for a new job, think about what your real motivations are for doing it. If it isn’t because you genuinely want to move on, look at other avenues first. Have a discussion with your manager and explain that you feel undervalued. Sometimes it’s just a discussion that needs to be had, but if that doesn’t work, you know your only option is to find a new job and Utility People are always at hand to help you find the role you deserve.