You might find yourself in a position where, with your notice in hand, your employer may try to keep you at the company. And in the effort to keep you, they may offer a raise, promotion, improved benefits, or some combination of the three. This leaves you in a difficult position.
There's no doubt that many job seekers may be tempted by this offer and it can seem like a great option. But, how do you know if it is the right option for you? There are several factors to consider before making a decision about the counteroffer, here are just a few:
Your relationship with your employer
After announcing you are ready to leave, your relationship with your employer or manager could potentially be harmed. Your employer may begin questioning your loyalty once they see that you've been seriously considering other jobs and have received an offer. 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.
However, if you have a good relationship with your employer, they are likely to understand that you are just trying to further your career. It is important to carefully consider the relationship you have built with your manager and employer and contemplate if their opinion of you will change.
Job security
Your job security can drastically decrease if you accept a counteroffer. 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 counteroffers as a tool to give them more time to find new talent for your role.
It may be worth asking about job security with your manager during counter-offer discussions to learn more about their perspective before making a final decision.
Original Reason
Getting asked to stay when you hand in your notice can feel quite flattering. However, it is crucial to consider what your original reason for leaving in the first place was.
If the original reason you decided to look for other opportunities was because of compensation, it is likely that the counteroffer will be a solution. Additionally, within the counteroffer discussions, there are some factors you can ask your future employer to include that would make you choose to stay. For example, a more flexible schedule or additional days working remote are likely factors they would consider adding to the agreement to keep you on the team.
On the other hand, if you wanted a new position at a different company because you didn’t feel valued or you didn’t fit into their culture, the counteroffer is probably not going to change that. Overall, if you conclude that the reason you decided to leave in the first place isn’t going to change, it is not worth accepting the counteroffer.
Opportunity Cost
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 grow, it is vital that you take advantage of the opportunity.
However, it can make it a more difficult decision if your current employer is offering a better career opportunity within the counteroffer. Consider the opportunities that may arise from a new position at a different company and a new position at your current company and weigh out the opportunity costs for each decision.
Some things to think about to help you decide more clearly are: Will the new opportunity at your current company further your career in the short and long term? 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 comes the decision!
If you have come to the decision that it is best for you to leave, tell your current employer how grateful you are that they wish to keep you, and how much you have learned in your current position, but that you are ready to move on.
But, if you have weighed out the factors above and have decided to stay, make sure to clearly discuss with your manager the parameters in the counteroffer so you all understand what is expected on both sides.
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 your needs.