Handling Counter Offers

“More than 60% of UK-based employees who accept a counter offer end up leaving the organisation in question within six months anyway…” – Helen Pedder, ClearSky Business

You’ve just landed yourself the job, a new environment, with new challenges, a new start. As you hand in your resignation letter, your current employer gives a counter offer out of the blue. What do you do?

 Why am I receiving this now?

While the prospects of a higher salary may seem tempting, remind of yourself of why you wanted to leave in the first place. Were you feeling under-appreciated and deserved the raise without the threat of leaving? Are you moving to a rival company? Would they terminate your employment if they could find a replacement who will work for your old salary? Write a list of pros and cons to help balance out the risks and benefits.

 How would I be viewed?

If you choose to stay in your old job, your credibility may be affected with your current employer. Your loyalty may be judged if you have only chosen to stay for more money when you have just expressed your desire to leave. This could result in you being overlooked for any promotions in future.

 Your would-be employer would also be affected. After initially accepting the job offer but eventually turning it down, this may cause problems should you wish to work with them again and they question your sincerity. 

What have I got to lose?

A simple solution would be to make a list of pros and cons, think about: location, salary difference, management and any benefits you might be gaining or losing. Also consider negotiating between both parties if you are in a good position to do so.

Will they keep their word?

If your current boss promises to make changes in order to keep you on board, ask yourself what the likelihood is that this will actually take place. It might not just be the better salary that has made you look elsewhere, but perhaps the working environment or unwelcoming colleagues. Ask your boss how they can ensure these problems will be tackled, and if possible, get this in writing.

 

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