Having thought long and hard about your career progression, gone through an extensive job search, fine-tuned your CV and outperformed stiff competition in a gruelling interview process you’ve secured your dream role. All that’s left to do is hand in your resignation letter and work out your notice.However, far from responding angrily your boss explains how valued you are and offers to match or exceed your new package…
This is the incredibly common and often tempting position that candidates frequently find themselves in. The employer is considering the cost of replacing the employee and realizing that a salary rise for the employee is far more cost effective than finding a replacement and training them up to the standard of the departing employee.
The employee often feels a misplaced sense of guilt for “deserting” their boss or “leaving them in the lurch” after what has often been a positive relationship. These factors mixed with an inevitable sense of trepidation about joining a new organization mean that the counteroffer is frequently considered “too good to turn down.”
However conclusive research indicates that accepting such a counter offer rarely leads to a positive outcome for the employee. Statistics show that 80% of people who elected to accept a counteroffer are not with their company six months later.
Before accepting a counter offer think long and hard about how your company has valued you. If you were worth £X yesterday, why are they suddenly willing to now pay you £Y today? Also take some time to think about the negative consequences involved in accepting the counter-offer and the position it places you when the next salary or promotion review comes around. Pay-rises issued after a threat to quit are often used as an excuse to skip the next rise.
Furthermore, you have now made your employer aware that you are discontent in your position. After your acceptance, your loyalties will be in question.
Think carefully about all these facts before making a final decision. Though the offer seems appealing, your initial reasons for wanting to leave the company still exist. Evaluate your reasons for leaving your current position, the reasons you accepted your new position and what your career goals are. A mistake in your career path could cost you your professional development.