Counter Offers: Why They Can Be Risky
Seeking employment elsewhere opens a new door with new opportunities. However, once you give notice to your employer, you may find yourself navigating the tricky process of counter offers. You’ll want to be prepared for the powerful, persuasive tactics your current employer can use to convince you to stay. They could promise a new job title, a promotion, or a better benefits package. Most of the time you will be offered a higher salary to stay. Accepting the counter offer may be quite appealing, however, statistics from the National Employment Association show that 80% of employees who accepted counter offers still parted ways form their employer within 6 months.
Read further for reasons why accepting a counter offer might not be the best decision:
Understand your reasons for leaving and consider the future:
Be sure to understand your own motives for seeking a new opportunity. Is it because you feel you are underpaid, are extremely dissatisfied with your manager, or were you promised a promotion or career advancement that seems to be unattainable? It can be expensive and time consuming for your employer to replace you, so they may try to persuade you to stay with hard to resist offerings, however, you’ll want to carefully consider the motive and ask yourself a few questions. If you are so valuable, why hasn’t your employer acknowledged your contributions? If they previously promised you career advancement but didn’t deliver, will this counter offer actually follow through? If you do not feel it is a cohesive culture for you, what are the odds it will change in the next year? Take the time to thoroughly examine your needs while you make your decision to leave or stay.
If you decide to accept your current employer’s counter offer, understand the risks that might be involved. Now that you have expressed a desire to leave, your job security may be at risk. Your company could be uncertain of your commitment. This may cause them to only keep you in the meantime while they hunt for a replacement. While these risks aren’t always the case, you’ll want to consider your future and do what is best for you and your career. Will the counter offer fix the underlying reasons you wanted to leave your employer in the first place?
Whichever you decide to do – accept or decline a counter offer – be sure you carefully review your reasons for wanting to leave in first place. Ultimately, you need to decide what is best for you and your career. When it comes down to it, we spend the majority of our time at work so if you know you are unhappy and the likelihood of that changing is slim to none, it is time to move on. If leaving your employer for higher responsibility, pay, and title, then staying on for just a pay raise may only be a career set back. After assessing the advantages and disadvantages, your best bet is to choose what feels right in your gut. Only you know what will ultimately make you happy and successful in the long run – not your employer.