I’ve been made a counter offer – what should I do?
A new job may seem like the best way to achieve your personal goals or to earn more money. But, what should you do if your current employer decides not to accept your resignation, and instead comes back with a counter offer?
I’m seeing this happen more frequently within the events and media space as employers are keen to hold onto talented and experienced team members. Whilst it can be flattering to receive a counter offer, it can also be a difficult situation to navigate. To help you make the right decision, this article looks at the best way to approach and handle a counter offer.
Why are you leaving?
When you receive a counter offer, you have to be clear about why you are looking for a new job in the first place. It may be surprising to know but looking to earn more money is not the top reason. According to research by the Office for National Statistics (ONS), two out of every three employees leave a job because of a lack of training and development opportunities.
Other reasons include not being able to fit in with the company’s culture, not getting on with colleagues and looking for a better work-life balance.
Whatever your reason is for leaving, you will have to consider if accepting the counter offer will change the way you feel about working there?
Why people accept a counter offer
There are several reasons why people accept a counter offer. This includes liking the feeling of familiarity and security that their current role gives them. Or, they are scared of change and don’t fancy being the ‘new-person’ again and having to get to used to a new way of working. Or, it could even be that they like their job and really want to stay where they are.
Is it a good move to accept a counter offer?
This is a difficult question to answer, as only you know what is right for you, but, research by ClearSky Business shows that 60% of employees who accept a counter offer leave within six months of doing so. Reasons given for this is that the underlying issues that led to the individual looking for a new job, never get addressed. Or, another reason, is that the trust between the employee and their employer has been lost and the relationship has turned sour.
Accepting an offer
Receiving a counter offer shows that your employer is keen to keep hold of you. This can put you in a strong position.
If you are asking for more money, go armed with evidence on why you think you deserve a pay rise. You should be able to find details of average industry salaries on sites like Indeed.com or Guardian Jobs. If you are having difficulty finding this information, by looking at your experience I’ll be able to advise you on what salary you can expect to receive.
If you’re looking for more responsibility, be precise on where your strengths lie and clearly communicate to your boss what responsibilities you are looking to take on. Most importantly, be open to negotiation as your current employer may not be in a position to offer you exactly what you want.
Making the decision
Deciding to accept a counter offer or move, can be very tricky. I tell my candidates that the best way to approach it is by being objective. List out the pros and cons of each role, paying particular attention to where you can add the most value. The best piece of advice I can give is, keep emotions at bay and be pragmatic.
If you’re having difficulty deciding if you should stay in your current role or move to somewhere new, get in touch on 0203 488 2620 or email me on helen@jbrecruitment.co.uk and I can talk you through your different options.