Being a Recruiter, we try to educate candidates through the entire process, from the first call/meeting to an offer stage. Surveys over the years have indicated employees are better off leaving their current position once a new exciting opportunity presents itself.
The truth is that over 80% of employees who accept counter offers leave within the first year of accepting this new offer or they are let go/laid off.
So, you’ve accepted an offer to work for a new company and its time to hand in your notice with your current boss. You do all the things you’re meant to: given notice, offer to help with a transition and thank them for everything they have done. Before leaving and your Manager accepting this, your employer hits you with a counter offer. This offer includes more money, a superior title and responsibilities. So, where do you go from here?
While this is very flattering, why did it take this situation for this amazing offer to appear? The chances are that your boss/company have an ulterior motive as this can hurt the group, practice and his own objectives, plus how long was the money in the pot for them to offer this now. They could be doing this to keep you there so that they can train a new employee, as it costs more to go through the process of recruiting another ‘you’ and filling the gaps.
Before accepting any counter offer, you need to consider these key points:
- Why were you looking to move in the first place?
- Have you had to quit to get a raise?
- Will the fundamental issues truly change?
- Relationships might be lost between your employer and peers?
- Job security will diminish?
- You accepted another offer already? (Your new employer demonstrated belief in you and offered what you wanted)
- Where has the money come from to get this counteroffer?
- How long will you stagnate for now?
Circumstances that made you want to leave will reappear and will not go away.
Before handing in your notice, you need to fully compare all companies, offers, roles and etc. If a good friend went to you with this situation, what would you recommend they do about accepting the new offer?
Reasons you want to join your new company / reasons to leave your current company
Reasons not to join your new company / reasons not to leave your current company