Of course recruiters, internal and external, hate losing out to counter offers, and will cite various statistics on why you should never accept one. In this post I’ll try to give you a different angle to consider, and discuss the truth about counter offers.
So to see what’s right for you, let’s start at the beginning.
The beginning
You’re currently employed but have decided to explore your career options. First of all, what are your motivations to find a new job?
Most people, believe it or not, don’t move jobs just for money. It’s more likely your motivation for finding a new job is for the career opportunity. Maybe you dislike your current employer’s culture or perhaps you dislike your manager. (I could insert some stats here but will resist.) You may have hit the glass ceiling, and need to move company to progress your career.
Whatever your motivation is, you’ve got yourself a new job offer, or expecting one. Congratulations. So it’s fair to assume you’re either planning your resignation, and doing some research on counter offers. Or you’ve already resigned and been made a counter offer, and want advice on weather you should accept a counter offer.
Counter offers | I’ve resigned but don’t really want to leave
If you’re happy to accept a counter offer then we have to assume you like your current employer. So either your motivation to move was just for money or you’ve been given increased responsibility or a promotion. Perhaps you’re thinking, I’ve resigned but don’t really want to leave. As a result you wondering whether to accept a counter offer.
If you like your current company and don’t really want to leave, the chances are you get on well with your boss. Your motivation to find a new job was for more money or responsibility perhaps. If this is true, rather than go through the job search process and resign, discuss your ambitions and / or frustrations with your boss first. Try to negotiate a salary review, or discuss your ambitions for carer progression with them. Find out what future prospects are available to you, before you start looking for a new position.
When you resign, you’re holding a metaphorical gun to the head of your manager. They will respect you more if you approach the subject without doing so. Alternatively, if you’re resigning in the hope of getting a counter offer, it could well backfire on you.
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I’ve been made a flattering counter offer, should I accept it
If you dislike your current company culture, boss, line manager or you’re stuck in a role you feel is no longer right for you, then no matter what money is thrown at you to stay you shouldn’t accept the counter offer.
Counter offers can be flattering, and come in all different shapes and sizes. From more money to future promises. Whilst the extra money will be nice initially, if your motivation to find another job was because you’re not happy with your current company, the extra money won’t change anything. Likewise, the promises made may never materialise. Even a promotion will mean you’ll be staying at a company you dislike.
As a result you’ll be looking to move company again fairly soon.
The truth about counter offers | Conclusion
In conclusion, the truth about counter offers is this.
If you’ve taken the time to explore the job market, and have been made a job offer, but you’re willing to accept a counter offer, I suggest the new company and offer isn’t the right career move for you. You should therefore turn it down and not resign. Either continue looking for the right opportunity or if you don’t really want to leave your current company, speak with your boss as suggested above.
As the facts and stats suggest, in most circumstances you shouldn’t accept a counter offer. I know, you’re probably thinking as a recruiter I’m bound to say that. In reality what I’m saying is that you shouldn’t put yourself into the position of even considering accepting one.
The metaphorical gun you hold to your boss’s head, in order to be counter offered, will change the dynamic of your relationship and not for the better. So, discuss your frustrations with your boss and negotiate the changes, role and / or salary you want. If that fails you can start looking for a new position, knowing you’ve already explored the option of staying. The reality is to achieve your ambitions you have to move on.
Alternatively only resign for the company, position, prospects and package that you’re 100% committed to. Therefore any counter offer is irrelevant, and you won’t want accept it.
If you’d like further careers advice, or to find out how we can help you achieve your goals, get in touch.