5 Things To Consider When You Get A Counter Offer
Your job search has gone well. You've aced the interviews, you've worked through the technical tests, you've wowed the partners and you've finally got the offer you were looking for at the firm you've always wanted to work at.
But when you want to resign, your current workplace offers you more. More money, more holiday, more opportunity.
Now I'm not going to say what you should or shouldn't do - there are plenty of other guides giving you very clear advice out there:
Instead, here are five insights into the counter offer to take into consideration before you make that career defining decision.
1. Why are they providing the counter offer?
Now, you're probably thinking that the offer is simply because you're too good to lose. And that might be part of it. More likely, however, is that they can't afford to lose you - or at least, they don't want the expense.
The money spent on a pay rise could be significant to you, but tally it up next to the costs of recruitment, training and the lost time from both your vacancy and your boss' time spent away searching for your replacement and it's comparing pennies to pounds.
You're probably the cheaper option. How does that make you feel?
2. Why not sooner?
If your employer can offer you a pay rise, along with any other benefits, it's likely they won't say that it's only to keep you there - counter offers often come with the statement that your wage increase is deserved, and you had it coming a long time.
This coincidence asks more questions than it answers. If you deserved it all along, why weren't you rewarded before you stated your intent to leave? If it was always in the budget, were you underpaid the whole time?
*Responses do not total 100% due to rounding
3. Immediate repercussions
The company already knows that you're unhappy - you've been looking elsewhere for a while, and there are interested parties staking their claim on your future - and they know that won't change.
Yes, a pay rise can satisfy you in the short term, but they will be keeping you on with the intention of replacing you with someone of a lower salary.
A £3,000 increase over the three months it takes to find a replacement is economically viable. They're getting a great deal out of you - and when they do get rid of you for both of your sakes, you'll have helped them find your successor and missed your boat at a company who already saw your full value.
Perhaps you do stay, and it's a long-term stay. You've already shown to the company that you're unhappy, and they know that. What they also know is that you're not committed to the role - otherwise, you wouldn't have looked elsewhere.
This puts a lot into question.
First of all, their commitment to you is now resting on a hairpin. When promotions come around, will they choose the person who looked elsewhere over those whose loyalty was never in question?
And what about the other side of the coin? If cutbacks or redundancies are necessary, whose rope is going to be cut first?
5. Reasons for leaving haven't changed
At the end of the day, unless you were only moving on because you were unsatisfied with your wage, nothing is going to change. You'll still have the same frustrations, but now they're exacerbated by your lack of loyalty to your company.
And if salary was the only reason for leaving, it brings into question your employer's faith in your ability. If it takes you leaving for them to recognise your value, perhaps it's time to find someone who sees your worth from day one.