6 reasons why accepting a counter offer is rarely a good idea! So, you’ve accepted an offer to work for a new company and its time to quit your current job. You do all the right things: give notice, offer to help in the transition, say thanks for the opportunity. But instead of just shaking your hand and wishing you good luck, your boss hits you with a counter offer – one that includes more money, more holiday, and better benefits.
It can be easy for candidates to be dazzled by a hike in salary and commitment from their current employer. However, the chances are your boss has ulterior motives. Employee resignations can hurt a manager’s record. Or, maybe, he or she wants to keep you on long enough to find a replacement. Perhaps it’s their motive because it’s far more cost effective to pay you a bit more than it is to recruit, hire, and train a new employee.
In some instances, accepting a counter offer may be a good move. However, once the dust has settled statistics show that 80% of people either voluntarily leave within 6 months or are let go in a year. We see this first hand, candidates that accept a counter offer from their current employer are active again – more often than not within 6 months. So before you say yes, consider these reasons why you might want to consider declining.
1. If you have previously requested a pay rise and not received one you have to ask where the money is coming from for your counter offer? It is likely this was simply the money allocated for your next bonus or raise, diminishing the true value of the counter offer.
2. Don’t forget your original reasons for looking for a new role – if company culture played a part in this a pay rise will only temporarily mask this issue. You also have to question the company ethics if it takes you to tell them you’re leaving to realise how much you’re worth.
3. From this point on your employer will question your loyalty – after the initial euphoria at you staying they won’t forget that you came close to jumping ship. Be aware that in months to come this could affect future promotions and potential for progression.
4. It’s not just your employers that will change their behaviour towards you but colleagues may see you in a different light and your relationships may suffer – ultimately adding to your workplace unhappiness.
5. Going back on an offer you accepted from another company can hamper your impression on the new company as well. Even though the acceptance could just be verbal, it is still viewed as an agreement between you and the new company. If you decide to stay with your current company and things again don’t work for you as promised/expected, you’ve burned a bridge with a company that may have been a much better fit.
6. As mentioned above, once the dust has settled statistics show that 80% of people either voluntarily leave within 6 months or are let go in a year. You will be first in the firing line if cutbacks are made as they know that your commitment is not truly there.
The advantage of being on board with Cherry Pick People is that we can help you manage this process to get the best outcome and guide you through every step of the way. Feel free to get in touch with Lema for advice on 020 3587 7687 or by emailing email@example.com