Should You Accept a Counter Offer?
We are likely to change jobs at least once in our lives whether it’s for a new opportunity, better salary or because of incompatible work dynamics. When you resign, your company may use persuasive tactics in the form of a counter offer to make you change your mind. A counter offer is an enticement to make you stay in your current position. Not wanting to lose you, your employer may offer you more salary, responsibilities or better benefits.
The offer may be attractive and more promising than the new job but are counter offers really worth it?
Pros of accepting a counter offer
Money is the only reason
You may really enjoy your working environment and the people you work with but money was the reason for wanting to leave your job. If your employer presents a fair offer because they genuinely care about you and your contribution to the company and more importantly they have reassured you that there will be no repercussions, it is worth considering.
You may live closer to your current job or it is more convenient for you to remain where you are. You may not like to be taken out of your comfort zone and do not have to relearn systems. Familiarity of company ethics and culture may seem appealing to stay in the role. Remember, complacency will never challenge you and open the door to new opportunities.
An employer may have not known you are unhappy in your role. A counter offer could be in the form of a new job title with more responsibilities and challenges.
Improved conditions for all staff
In some cases, the employer may have been getting complacent and the reality of you working elsewhere could make them reflect on all staff members and their happiness within the company. A pay rise may not be realistic for everyone but they could look for other ways to motivate employees for staff satisfaction and retention.
Cons of accepting a counter offer
The problems are still there
It is unlikely that you would have been looking elsewhere if you are happy in your current role. A more attractive pay offer does not make the real problems go away. Statistics show that that 80% of people who have accepted a counter offer will not be at their current employer in six months.
It’s more convenient for them
If you feel underpaid, under challenged or do not get along with your coworkers, it is likely that these problems have already been addressed with your employer. If you have previously asked for a pay rise or new projects and the outcome was unsuccessful, you should question why they are offering one now. The answer is probably not because they value you more as an employee but it is easier to keep you at a higher cost than to go through the recruitment process, and that is not a reason to stay.
The dynamic will change considerably
If your employer has reluctantly raised your salary to keep you in the job, they may question your loyalty to the company. If you have actively looked for another role and accepted then changed your mind to stay with the company for more money, you have already admitted you are unhappy and now the focus is on your financial gain.
Closing the door to new opportunities
When a counter offer is accepted, you are repressing the opportunity to experience new working cultures and styles of management. An employee who is passionate about their role will want to experience new roles and duties to reach success.
If you are not satisfied with certain areas of your job, speak to your employer before you search elsewhere. Write down a list of the pros and cons of staying in the company. Be honest to yourself and remain impartial. If your employer does not respond to the issues you have raised but presents you a counter offer on resignation, it is for their benefit not yours. Accepting a counter offer is a short-term benefit for long term issues.