5 Reasons you Should Never Accept a Counter Offer
So you’ve decided it’s time for a move, you’ve met with recruiters, you’ve assiduously scoured the market, you’ve interviewed with several different companies and you’ve finally found your next move. The job feels right, the company is great right and the people are a breath of fresh air.
You hand in your notice, but then something strange happens. Your manager goes pale and defers acceptance of your resignation. They have to speak to their boss. A day goes by, then two, then it’s the weekend. Monday comes around and the Head of the department asks to speak with you… and here it is, the counter offer in all it’s cheap, shameful glory – awash with excuses and regret.
Here are 5 reasons you should say thanks, but no thanks.
1) The Statistics– According to the National Employment Association, 80% of those who accept counter offers end up leaving within the next 6 months anyway.
2) The Motive – what is your employer’s motive for getting you to stay? Is it because they value you or is it because it takes a great amount of time and effort to replace you? The fact that you chose to move in the first place is indicative that you weren’t valued properly. To replace you, your employer is likely going to have to run an exhaustive search, conduct numerous interviews, pay ~ 20% of your salary in recruitment fees not to mention spend hours and hours getting someone new up to speed.
3) The Trust – despite the platitudes, the trust is now gone. You’ve got a black mark against your name as someone who isn’t loyal and is a flight risk. If redundancies come, do you think you’ll be towards the bottom or the top of the list of people to go? Trust is a two-way street. Do you really trust that this is a genuine offer? Or is it a temporary measure whilst they come up with a contingency plan. How can you know for sure? You can’t.
4) The Money – Where has this miraculous pay rise come from? I’ll tell you where it’s come from, it’s come from your next bonus or your next pay rise. Don’t be surprised to find yourself heavily penalised in the near future. If you ARE going to accept the counter offer, make damn sure it’s at least a 20% increase on your current salary, because that’s the minimum it will cost to replace you.
5) Self Belief – Always back yourself. Your actions define you, and you handed in your notice for a reason. You have taken the initiative, don’t now surrender it. Smile, thank your manager, but stick to your guns. They will only respect you for it, and who knows – perhaps one day you’ll return.