Counter offers are on the rise but what is right for your career?
The Counter Offer / Stay Interview
Whatever your reasons for leaving your job – be it better salary, work life balance, company ethos, commute etc – a counter offer from your current employer could stop you in your tracks and make you reconsider your career options. Why start working for a new company if you can stay with one you’ve already built up a rapport with? On the other hand, getting a counter offer could mean that your employer was always able to make the changes but not willing to do so. Your decision will ultimately depend on your individual circumstance and, hopefully, these tips will help you decide.
Broken trust - is it worth holding up your career for this?
Although the new benefits your current employer is prepared to offer may seem appealing, your decision to leave could create trust issues for both parties. Your company is aware you are willing to be disloyal to them, while you may not believe that things will change since it’s taken your decision to leave for your employer to make another offer. This could impact your future career prospects and depending on the type of line manager you have, they may make life difficult for you. Imagine going back in to resign for a second time too. That is an awkward conversation.
Lack of recognition - your career deserves more than this
You may be questioning why your employer is making the counter offer now? Why weren’t you recognised for your career achievements before? Or maybe you brought up these issues and they were dismissed until you found other options? Many professionals who have found themselves in a similar position often begin to look for other jobs later down the line. This is because the solutions promised are unfulfilled or delivered below their expectations.
Is it just about the money?
Your decision to leave your employment isn’t always about the money. You may not enjoy working within your current team, find the pressures of the job affectjob to affect your mental health or simply feel the need to change direction. The counter offer may not always meet your needs and more money doesn’t automatically equal increased job satisfaction. If your company is only prepared to offer a higher salary without fixing the issues you actually care about, you’ve probably made the right decision to leave.
What’s best for your long term career?
Look at your long term career goals and consider whether staying with your current employer will support these in the long run. Leaving your comfort zone can be tough and nerve racking, however, there are reasons that have led you to this decision. A counter offer may only be a temporary fix and could stifle your professional growth in the future.
Solution: Discuss your issues before deciding to leave
The best way to avoid job dissatisfaction is to create an open line of communication with your employer. Don’t be afraid to voice your concerns early on, without coming across aggressive or threatening to leave. Always backup your points with research – for example, if you feel you are being underpaid, find out the market rate is for your role. In some industries, counter offers are the norm and will not hinder your career. However, if you have got to a point of searching and finding better offers and your employer has not offered any solutions for your concerns, it might be time to leave.
Nearly half of senior executive and HR leaders surveyed in 2019 agreed that accepting a counter offer may hinder your career and many professionals end up looking for better options within a few months. This is something to remember. If you had a reason to leave the company and it wasn’t just financial, then will the business really make those changes? The most important thing to do is to value you, your skills and your worth. If it takes a business until you resign the time to offer you what you should have been paid in the first place, why did they choose to undervalue what you had to offer.
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