You’ve been through the job search process, you’ve gone on a few interviews, and finally, you've received an offer. It’s exactly what you wanted, in terms of both the role and the salary. But then, your current employer makes a counteroffer. They up the salary, give you a few more perks and try to convince you to stay.
It’s a tough decision to make – do you take the counteroffer and stay with the company you know, or do you accept the original offer and start a new chapter in your career?
Here are 5 things to consider before making your decision:
Will anything change?
If you're unhappy enough to resign, the chances are the counteroffer won't make you happy in the long run. That's because the underlying reasons for why you wanted to leave in the first place are still there. Maybe your workload is too heavy, you're not being challenged enough, or you're not being compensated for your efforts. No matter the reason, if you're not happy at your job, a counteroffer is not going to fix that.
If you're considering resigning, don't be swayed by a counteroffer. It may seem like a good solution at the moment, but it's not going to make you happy in the long run.
Why are you suddenly worth more than you were yesterday?
It's no secret that the hiring process is costly and time-consuming. And for employers, it's often easier and cheaper to simply give existing employees a raise rather than going through the hassle of finding and training new hires.
A counteroffer with a pay raise may seem like a good thing, but it's important to remember that your employer is only doing this so they don't have to go through the hassle of hiring someone new.
It could damage your relationship with your employer.
You may think that by accepting a counteroffer from your employer, you're getting the best of both worlds. But taking a counteroffer may damage your relationship with your employer and leave you in a worse position than before.
Here's why: when you accept a counteroffer, you're effectively telling your employer that you were willing to leave for a better offer. This puts them in a difficult position and can make them question your loyalty. Additionally, your employer may now feel that they must keep a close eye on you and may be more likely to micromanage your work.
While a counteroffer may seem tempting, it's important to weigh the pros and cons carefully before deciding. In many cases, it's best to simply move on to a new opportunity.
You might end up regretting it.
Research shows that around “92% of all people, who accept a counteroffer, left their company within 36 months.” And even if you don't leave, you may face negative consequences like decreased job satisfaction and decreased productivity.
So, if you're mulling over a counteroffer, remember that it's not always what it seems. You may think you're getting a raise, but in the end, you could end up costing yourself your dream job.
You will already have a new offer from a company that can see your value.
You are talented and hardworking. You know your worth and you are not afraid to ask for what you deserve. This company understands that you are an asset, and they are ready to invest in you.
They see the potential in you, and they are willing to bet on your future success. Don't turn down this opportunity by accepting a counteroffer from somewhere you were willing to leave.
If you're considering taking a counteroffer from your current employer, think twice. It's usually a bad idea that will only make you unhappy in the long run.
If you’ve decided to leave in the first place, go with your gut instinct and take the new opportunity at a company that has already shown they value you.
Are you looking to take the next step in your career? Head to our Job Search page and apply for your dream role today.