Counter-offers are notoriously tricky. From looking for a new job, to being offered a position, you suddenly find yourself presented with a counter-offer from your current place of employment.
What should you consider?
What are the pros and cons of accepting a counter-offer?
To help you make an informed decision, we’ve split the opinions of our specialist consultants into reasons to and reasons not to accept a counter-offer.
Reasons to accept a counter-offer
If you don't really want the job you’ve been interviewed for
The motives for looking for a new job very often involve getting a better deal. This deal could be a better salary, a shorter commute, new opportunities or less working hours, but if the job itself is not what you want to be doing, then you shouldn’t take it.
Counter-offers can open doorways to negotiation with your current employer, which could give you the perks that you are looking for, whilst keeping you in your current job role. Navigating a job offer should be done carefully however, and we have tips for that here.
If you feel your loyalty will be rewarded by staying
Choosing to stay with your current employer could help to replace some of the loyalty that may have been lost when you applied for other roles. There is a lot to be said by not burning bridges throughout your career, but you also shouldn’t stay in a role to make your employer happy.
If staying will lead to opportunities
If an employer thinks they may lose you, you may find that new opportunities are presented to you to re-awaken your current role, that may have become stale.
If new opportunities lead to more responsibility and the potential for increased pay, promotion or an uplift in skills, then accepting the counter-offer could be a great career move.
If you feel truly valued in your current business.
Eleven Recruitment consultant, Emma Bloomfield says: “If leaving your current role is for reasons out of your control, receiving a counter-offer may open a window of opportunity to discuss the matter with your employer. If you feel truly valued, and your employer can help to make your experience better, then choosing to stay can be positive.”
Whilst receiving a counter-offer may sound like a win-win situation, understanding the reasons behind the offer is a necessity. In fact, more than 60% of UK-based employees who accept a counter-offer leave the organisation in question within six months anyway, highlighting the fact that sometimes, counter-offers shouldn’t be accepted. But what else should make you think twice before accepting?
Reasons to decline a counter-offer
If your employer didn’t show you recognition before – what makes you think things will be different if you stay.
Feeling valued at work and being shown signs of gratitude can make employees 50% more productive and feel more satisfied in their role, resulting in lower levels of staff turnover. If your employer didn’t give you recognition before you were offered another job, then be wary that any promises of recognition could be short-lived if you accept a counter-offer.
Is it a panic move by your employer?
“A counter-offer may be a panic move from your employer at the thought of having to replace you” says Emma. “Hiring can be expensive and time-consuming, so consider whether you are being offered something that benefits you, or whether it benefits your employer.”
Are your reasons for leaving still valid?
Counter-offers can give you a moment to stop and think about whether leaving your current role is the best move for you. However, as attractive as the offer may be, consider whether your original reasons for leaving are still valid.
You don’t want to be part of the 60% who still end up leaving after 6 months, as in that time, you may have missed a great opportunity.
What motivates you?
Considering what motivates you will easily help your decision when it comes to your career. Are you motivated by opportunity, work-life balance, money or values?
If you feel stifled in your current role, need a new challenge or want more responsibility that your current job cannot offer to you, then moving could be your best bet, but always try to leave on good terms.
“An amicable resignation will help you to avoid burning bridges and can leave the doorway open if you decide to return to a previous place of work in the future” says Emma.
If you’d like more advice on your next career move, our team of specialist consultants would love to speak to you. Contact us here.