You might find yourself in the position where, with your notice in hand, your employer may suddenly realize how valuable you are to the company. And in the effort to keep you, they may offer a raise, promotion, or improved benefits, or some combination of the three. This leaves you in an awkward position.
There's no doubt that many job seekers may be tempted by this offer and it can seem like a great option. Yet, it's important to examine carefully why you've decided to look for another job in the first place. Maybe the culture of the company wasn't a good match for you, or you didn't feel valued. Perhaps you didn't feel challenged enough or were left without much opportunity for advancement.
There are several reasons why you should not accept that counter-offer, here's just a few:
You will have a different relationship with your employer
Your employer may begin questioning your loyalty and you won't be treated as trustworthy once they see that you've been seriously considering other jobs and have received an offer. After all, you just informed them that you would be leaving and are only staying because they have provided you with additional compensation.
As a result, future advancement may become difficult, as your employer may presume that you will leave soon anyway and may pass you over in terms of training and career advancement opportunities.
You will lose your job security
Your job security can drastically decrease if you accept a counter-offer. Since you have already expressed an interest in leaving the company you are currently working for, you are likely at the top of the list if they ever need to lay anyone off. Unfortunately, we have also seen companies use counter-offers as a tool to give them more time to find new talent for your role.
They benefit from the offer, not you
Getting asked to stay when you hand in your notice can feel quite flattering. It is important to keep in mind, however, that your employer is more often than not trying to keep you on board for their own benefit.
Employers would be better off paying you more than attracting, recruiting, and training a replacement. The company is actually saving money by retaining you even though it may seem that they are paying out more.
It's important to ask yourself: why were you not paid that much earlier? Clearly, if you are worth that much now, you were worth that much before handing in your notice.
Not moving to a new position could cost you opportunities
Your current role might make you feel bored or frustrated if you're not challenged or given opportunities to grow. If another employer is seeing your potential and is willing to help you realize it, it is vital that you take advantage of the opportunity. Despite the fact that it may be out of your comfort zone, you are almost certain to benefit from it much more than your current position.
Consider the opportunities that may arise from a new position or company. Are you confident that staying at your current job will provide you with the same level of career development as moving to a different position? Are there any opportunities and experiences that you will gain from your new employer that your current employer cannot provide?
Now that we've covered why accepting a counteroffer is a bad idea you might ask yourself, how do I decline it?
It's simple! Tell your current employer how grateful you are that they wish to keep you, and how much you have learned in your current position. However, your new position offers better career advancement or greater work-life balance, and money is not the primary motivation for your decision.
We are always available to provide you with additional guidance or information. A team of our expert recruiters will assist you in finding the right job that best suits your skills and interests with an organization that will meet all of your needs.