Why you should think twice about accepting a counter offer.
Using a job offer as a bargaining chip with your current employer may seem tempting but all too often it ends badly. If you want a raise, then negotiate one on its own merits or prepare to move on. Many people these days hand their notice in for a number of reasons, but when are counter offered, they accept, forgetting all the other reasons you initially wanted to leave. If it is was so easy to give you a raise, why weren’t you worth one before?
Did you know? 80% of people who accept counteroffers either leave or are let go within a year!
Here are some things to consider after accepting a counter offer.
- Employers often make counter offers in a moment of panic but after the initial relief passes, you may find your relationship with your employer has changed for the worse. You are now known within the company as the one looking for other jobs, you may no longer be part of the ‘inner circle’ and if the company ever decides to make cut backs, you could be top of the list
- Even worse, your company might just want time to search for a replacement, figuring it’s only a matter of time before until you start looking around again. You might turn down you other offer and accept your employer’s counter offer only to find yourself pushed out soon afterwards.
- There’s a reason you started job searching in the first place. Whilst money is always a motivator, more often, there are other factors that drove you to look for another job, personality fit, your boss, boredom with the work, lack of recognition. These factors aren’t going to change, and will likely start bothering you again as soon as the pay rise wears off.
- Even if you get more money out of your company now, think about what it took to get it. You needed to have one foot out of the door to get paid the wage you wanted, and there’s no reason to think that future salary increases will be any easier. The next time you want a rise, you might be refused altogether on the grounds that ‘we gave you that big increase when you were thinking about leaving’.
- You may be told to take the other offer, even if you don’t really want it and then you’ll have to follow through. Using another offer as a bluff is a dangerous game.
- Finally, your new employer is very unlikely to consider you again for any future job offers.
If you have been counter offered and would like to discuss your options with us, call our team confidentially on 01423 701 321 or email us and we will call you at a time convenient.