5 Things to Consider Before Accepting a Counteroffer
Have you made the decision to leave your current job for something better? Sometimes, upon hearing about your intention to leave, management will make a counter offer. This offer seeks to remedy the issues that pushed you to seek a new position in the first place.
Unfortunately, most counteroffers fail to make a less-than-satisfactory position more bearable. While the offer may include the promise of a wage increase or better hours, there’s usually a deeper reason behind your initial choice to walk away.
Maybe you need a job closer to home, a better work environment, or additional benefits. Maybe you just want a change of pace. Whatever the case, here are five reasons to seriously consider declining a counteroffer:
According to employers, the top reasons for issuing a counter offer include:
Keeping an employee with hard-to-find skills
Avoiding the loss of a tenured employee with important company knowledge
Avoiding the high cost of turnover
Lacking time to recruit and hire a new employee
There are drawbacks to making a counteroffer. The employee in question might be less loyal to the company. The relationship between the employee and management will be strained. And, many times, the concerns of the employee cannot be addressed in full.
According to the National Employment Association, a whopping 80 percent of those who accept counteroffers end up leaving their position within the next six months.
Leaving a long-term job often feels like leaving a relationship. Can you imagine telling your partner you want to end things – then taking them back after they’ve promised to change? Of couples who make this decision, few survive. The same is true in the corporate world.
This is because a certain level of trust and security has been broken. Once you hand in your notice and express a desire to leave, you can’t take it back. Your relationship is forever altered, whether you choose to stay or go.
For most employees, wage isn’t enough for retention. Employees who truly enjoy their work don’t mind making less, and employees who dislike their work aren’t apt to stick around for a raise.
Your counteroffer must include something of more depth, like improved benefits or a better work environment, to make a difference in your day-to-day experience. Since your employer is unlikely to offer these things for a single employee, you’re better off finding a company that matches your expectations from the start.
Once you share your intention to leave, management is far more likely to replace you. Even if you accept a counteroffer, your supervisor will feel compelled to search for your replacement in case you decide to leave again. When this replacement is found, you may be dismissed in favor of someone more “committed” to the company.
Our representatives at The Patriot Group take pride in pairing talented candidates with the right company. Contact our experienced team for assistance in your ongoing search.