Five things to consider when you receive a counter offer
So, you’ve got yourself a new job… you’ve handed in your notice and just as you start preparing for a new challenge, your boss offers you a surprisingly lucrative counter offer. This could be in the form of more money, more responsibility or a promotion. Deciding whether to accept or reject a counter is never an easy situation.
To help you decide whether to stay or go, I’ve put together 5 things you should consider when you receive a counter offer:
- What are your options?
You’ve accepted another job and if you turn it down to accept a counter offer – not only will your risk burning your bridges at the new organisation, you could also be missing out on a better opportunity.
So, the key question to ask yourself is, why are you moving on? What will the new job give you that your old job can’t? Then figure our whether you can achieve this by staying where you are. The old pros and cons list may help.
- Will accepting make you happy?
Think objectively & long term.
Although money might seem like a good reason to stay right now – it might not be as appealing after a few months?
If your reason for looking to leave was due to problem colleagues, lack of career progression or just an unhappy working environment – how is staying going to change this?
- What will your employer think?
After handing in your notice, the damage has been done. Even if you decide to stay, your boss may question your loyalty. This could put a potential strain on your working relationship & they may also avoid favouring you above other, seemingly more committed colleagues.
- Do they really want you to stay?
What are their real intentions behind offering you a counter offer? Recruitment can be a long and expensive process, so to try to get you to stay saves all the urgency and extra time & effort needed to recruit, not to mention the expense. They may not want to upset the team, as when someone leaves it can sometimes cause unrest and other start to look around for a new role. Plus, it has an effect on customers, staff turnover is rarely seen as a positive, and if the customers you deal with have a good relationship with you, how does your manager know that they will have the same level of relationship and be as equally as happy with a new point of contact?
- Are you valued?
If you have to hand in your notice to a company just to get a raise and a promotion, then is that the type of company you really want to work for? The promotion and raise your employer is giving you is not based upon your merit. If that was the case, then you would have already received it.
It’s a difficult one, and my advice would be to make sure you’ve weighed up all the options first. Think about your main motivations before making any final decisions.
The team at SDW are always on hand to talk through anything career or recruitment related, regardless if you have secured a role through us or not – we are always happy to help where we can.
Author: Steve Wyeth, Director & Founder of SDW.