You feel you are taken for granted at work and/or that you are not valued as much as what you should be. You therefore seek other employment. Upon handing your notice in, your boss makes a Counteroffer to keep you. This could be a pay rise, promotion, better benefits or a combination of all three. Suddenly you are in a situation where you don’t know what to do.
There are pros and cons to accepting a counter offer. One of the most common reasons that employees will accept a counteroffer is being offered more money. This will work well if you are happy within your current role, you like the company and you get on well with your colleagues. You get to stay in the place where you are comfortable, and you are getting paid a fair value for the work that you undertake. It’s important to be careful when accepting a counteroffer, as the employer could then question your loyalty to the company and it may be perceived that you are only interested in financial gain.
“You look to leave your current employment and your boss throws in a curve ball counteroffer to try and make you stay. Confused on what to do? Here are the pro's and cons to accepting a counteroffer. “
To be frank, accepting a counter offer when you are unhappy and don’t feel that you are being treated fairly will not change the situation. Studies have shown that those who accept a counteroffer stay in the role for less than a year. The reality of the situation is, that you are being paid more to feel undervalued. You accepted a new job offer for a reason; there was something that was on offer that appealed to you. If your current employer is matching your new package, take the time to consider why it has taken for you to say you’re leaving for them to offer you this.
If you choose to stay, don’t be surprised if the working environment changes. No matter how hard you try and keep information between you and management, word eventually gets out. This could cause colleagues to distrust you and cause rifts as they will wonder what you were offered to stay.
Common Mistakes made when accepting a counteroffer.
Deciding on whether to leave your current employment or accept a counter offer can be a bit unsettling with a lot of back and forth. Relying on your employer’s word when your reason for leaving is due to the working environment or a colleague is risky, as you cannot guarantee that they will follow through with their promised. You need to be honest with whether you think that this promise will be delivered, as if these are not followed through then you will be back where you started, and you will have blown any chance of reconciling with other company.
Another common mistake is that employees now expect there to be a counter offer from their current employment. Some employees will use a new job offer a leverage to be able to get what they want with their current employer. If you decide to do this, tread carefully as this could backfire, and you may end up moving to a company that doesn’t benefit you in terms of more money or a better position.
If you are faced with having to make the decision as to whether you accept a counteroffer or not, it will all boil down to the want versus the need. To help make things clear for you, take the time to think about what you want within your role, and weigh up which company will be able to give you as much of that as possible. Remember the reason why you were looking for a new role in the first place was because you were either not fully happy with your current employer or the role itself. Don’t let a counter offer cloud your judgement and make you regret making the wrong decision.