The low unemployment rate almost guarantees that at some point, you’ll find a new job—and receive a counteroffer from the company you’re trying to leave. But should you consider taking the counteroffer and staying in your current job? Let’s look at the issue from all sides to make sure you don’t make a bad decision during your job search.
Understanding the Counteroffer
In your heart, you know it’s time to go. You may even still feel a connection to your job, if it’s only to the people you work with. But deep down you made the decision to look for a new job, find one, and then tell your employer you’re leaving. Here’s where it gets complicated.
Instead of gracefully letting go, your employer makes a counteroffer to entice you to rescind your resignation. The offer may have a promotion in title or pay (this is what usually happens). You’re left with the uncertainties of the new job as well as the sure thing back in your current role. What should you do?
Accepting the Counteroffer
The first thought that should come to mind when receiving an employer counteroffer is—why in the world didn’t they give you the raise or promotion while you were still on the job? If you were good enough to make more money now when you’re leaving, why weren’t you good enough when you were still firmly in the position?
The counteroffer from your employer may feel flattering. You were obviously doing a great job. But if you take the offer, what will really change in your situation? There’s an emotional pull inherent in any counteroffer and the employer is counting on that to rope you back in. However, the data shows that less than one year after a counteroffer is made, one-half of the employees that chose to stay are back out looking for a new job again. Why? Because the fundamental underlying structures of the company are still the same. More money won’t pay away the dysfunction you’re trying to leave. Too, don’t think the employer won’t remember that you tried to get out and they talked you into staying. Do you think that your employer may consider you less than loyal as a result? You should—because they probably will. This will color your ability to move up the ladder in the future.
Is It Ever Okay to Accept a Counteroffer?
There are situations where employees resign with the goal of a counteroffer. You may even have a new job already lined up. Either way, this strategy is a clear gamble—what if the employer doesn’t make a counteroffer? A counteroffer could give you a better salary and job title but it’s a pretty risky way to try to get a promotion.
There are probably better ways to approach the salary negotiation process without putting your entire career at risk. Even if you get a counteroffer, we believe if may ultimately do more harm than good. Not only will your employer remember that you threatened to leave later on, you ruin your reputation with the company that was trying to bring you on board. Not to mention that accepting the counteroffer could damage the relationship you’ve built with your recruiter.
Contact Lingo Staffing
If you’re considering an alternative to your current position, Lingo Staffing would like to speak with you. Our teams work hard on behalf of our job candidates to ensure they find the right fit in their next position. Call on us to find out how we can help you today.