Counter Offer Advice

MANAGING A COUNTER OFFER

Once upon a time, you handed in your notice and looked forward to your leaving party - but it’s not quite that simple anymore. Today when you resign, you can expect a counter offer - but beware, after the initial flattery and extra cash have lost their appeal, you may still be left feeling exactly as you did when you started looking for a new job.

Furthermore, a counter offer that improves your financial package can simply mean that you receive your standard pay rise early - so it could lead to disappointment later in the year. Plus, once you have handed in your resignation, your loyalty and commitment may be called into question, and as a consequence, you may find yourself being passed over for promotion. So, accepting a counter offer can seriously damage your job prospects too. And even when the counter offer includes the promise of promotion, it may still never materialise - and unless you have it in writing, you will be left high and dry.

The facts speak for themselves. A counter offer is often the most cost-effective and productive solution to your resignation. Persuading you to stay may be cheaper than recruiting your replacement - so for your company, it’s not about you - it’s sound economics.

And if you find yourself being tempted, remember this: national statistics show that 89% of all employees who accept a counter offer leave within the next 6 months.

So if you receive a counter offer, don’t be surprised - but don’t be fooled either. And don’t forget you can always discuss the offer through with your McCarthy Consultant.

Accepting a counteroffer can have numerous negative consequences. Consider these top 10 reasons to say “no” to a counteroffer:

Reason No. 1:

What type of company do you work for if you have threatened to resign before they give you what you’re worth?

Reason No. 2:

Where is the money for the counteroffer coming from? Is it your next raise, early? (Many companies have strict wage and salary guidelines that must be followed).

Reason No. 3:

Your company will immediately start looking for a new person at a lower salary.

Reason No. 4:

You have now made your employer aware that you are unhappy. From this day on, your loyalty will always be in question.

Reason No. 5:

When promotion time comes around, your employer will remember who was loyal and who wasn’t. Which list do you think you will be on?

Reason No. 6:

When times get tough, your employer will begin the cutback with you.

Reason No. 7:

The same circumstances that now cause you to consider a change will repeat themselves in the future, even if you accept a counteroffer.

Reason No. 8:

Statistics compiled by the National Employment Association confirm the fact that over 80% of those people who elected to accept a counteroffer are not with their company six months later.

Reason No. 9:

Accepting a counteroffer is a bribe and a blow to your personal pride. Were you bought?

Reason No. 10:

Once the word gets out, the relationship that you now enjoy with your co-workers will never be the same. You will lose the personal satisfaction of peer group acceptance.

You need to think carefully about all these facts before making a final decision. Evaluate your reasons for leaving your current position, the reasons you accepted the position, and what your career goals are. A mistake in your career could cost you your future, professional growth and money. Usually when it comes down to it, you’re better off saying “no” to a counteroffer.

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