SHOULD YOU EVER ACCEPT A COUNTER OFFER?
When you start to look for a new role, you must know going into this one thing is for certain, in 2018’s market you will end up with multiple offers and one of those will be from your current employer. I am going to talk about the pros and cons of counteroffers. Which are the good ones and which are the knee-jerk reactions purely to save cost and time. Most candidates that we act for are subject to a counter offer when they come to resign. Each counter offer we see plays on different wants or needs of an individual; more money, reduced hours, promotion etc. Unfortunately, it is far too common that we see individuals accept the counter offer. They are happy for a short time but are back in touch with us as fundamentally, nothing has materially changed, and it was just a quick fix. When should you start to think about counter offers? Before you look for another job! The moment you are not happy with the location, salary, job responsibilities, reporting lines, staff etc. This is the moment that you should be speaking to your employer and having an open conversation about things that can be fixed. Ultimately this will save you, us and any potential employers a lot of time. The last thing you want is when you are 8 weeks down the line for them to tell you they can change the one thing that you are not happy with. Think seriously about your reasons for leaving the business. Be open with your Manager and make sure you have explored all your options internally before you come to market. When is it a good counter offer? Never. If you have done the above and spoken to your current employer, you should never get to this stage. If you are valued then they will change what needs to be changed before you resign. When is it a bad counter offer? Once you have resigned! If you receive an offer from your current employer that is because of you resigning, then it is too late. Often a counter offer is a better time/cost saving exercise over an above replacing you. Your resignation is a complete frustration to your current employer. Ultimately, they want to provide you with what you need so that you return to work and continue with your role as normal. To replace you your employer will have to factor in the below costs; An increase in salary for the new incumbent A recruitment fee The cost of no one in the position The cost of training someone new Ask yourself the following questions… Would you have received your salary increase/promotion if you hadn’t handed your notice in? How will this discussion of you handing in your notice affect the relationship with your boss? How will that affect the future of your salary, bonus and promotion prospects long-term? Does the offer get rid of your original reasons for wanting to move? What about the great job/s that you have been offered, will you be missing out on a great career move? Handing your notice in can be an emotional thing to do. You went through so much to get to the stage of getting an offer, you were proactive to change things that you could control. You saw things at your current firm as deal-breakers that couldn’t be fixed, so you found a role better suited to your long-term plan. Don’t let emotions, flattery or extra cash effect your judgment. So stay strong and set on your decision, tell your current boss that you politely decline the counteroffer and start the countdown of starting your new job! For more information about this article, or to speak to Sarah about your recruiting needs, please call 020 7269 6345 or email firstname.lastname@example.org