what to do when you receive a counter offer

Congratulations, you lot've received a task offering. And now that y'all've handed in your resignation, your current company is fighting for you and offering you lot more than money. Should y'all stay? Or should yous go?

Deciding whether or not to accept a counteroffer can be difficult and there are many factors to consider. Your choice is likely to have a significant impact on your career and so shouldn't be taken lightly.

Why do companies make counter offers?

Has your current company made a counter offer because they're worried about losing a valuable staff member or for other reasons? Employers may also offer counter offers because recruiting a senior level employee is expensive. It can toll every bit much as 213% of a senior executive's bacon to detect a replacement. For an employee making £85,000, this could amount to £181,000 when you lot factor in a drib in productivity and recruitment and training expenses.

So, it's not surprising that nearly 50% of employers offer a counteroffer when employees resign. Counteroffers are even more mutual in candidate-driven markets like construction and IT, where a skills shortage makes information technology very difficult to observe and recruit a new employee.

Why You Might Have a Counteroffer

Over 50% of employees take counteroffers. At the time, information technology can seem like the right determination as you lot won't have to principal the working methods of another visitor or build relationships with new colleagues. Y'all already know your current company and how to exercise your chore. The extra money doesn't sound bad and certainly, it'll be easier to stay.

Yet, eighty% of employees that accept a counteroffer leave inside six months and 90% within a year. Proving that money isn't ever enough to overcome the problems that made y'all desire to look for a new job in the first place.

Why You Shouldn't Accept a Counteroffer

Unfortunately, in that location are more than reasons to turn down than accept a counteroffer.

Your Happiness

Simply 12% of employees resign due to money. So, chances are you're looking for a new task for other reasons and these reasons don't simply become away with a higher salary. Why did you desire to leave in the first place? You need to carefully think about your original motivations and whether the increase in pay compensates enough to make you happy staying at your current visitor.

Damaged Employer Relationships

Accepting a counteroffer is likely to damage your relationship with your current employer. Afterward all, you've only told them you were leaving and are now only staying because they offered you more coin. This might cause them to question your loyalty and whether you'll resign the second yous receive a better offer.

Nearly employees that accept a counteroffer often stop up feeling "pushed out" of their current organization. And, sometimes, companies go as far equally to create a contingency plan and start looking for someone to make full your position before you lot can find a improve offer.

Will Things Really Modify?

You lot probably started to await for a new job because you felt underappreciated and restricted. Maybe you were passed over for a promotion or simply weren't given the opportunities to progress. At some betoken, you probably voiced these concerns to your employer, simply they weren't finer addressed. It's likely that these issues will continue after y'all accept the counteroffer and will eventually crusade you to resign -- this time for adept.

Are You At present Expendable?

Our example studies prove that later on accepting a counteroffer, your job security drastically decreases. If your company needs to make redundancies, you'll probably exist at the top of the list. Later on all, you lot already expressed a desire to go out and aren't as loyal or committed to the company as other employees. Even worse, your current employer may have only given you a counteroffer to buy them fourth dimension to discover a new employee to replace you.

The Value of New Opportunities

As commonly said, "at that place's no reward in life without hazard". This saying certainly applies to whether or non to take a counteroffer. Turning downwardly a counteroffer and moving onto a new visitor could accept your career to the next level. Your new visitor might offer improve career development opportunities or, at very to the lowest degree offer you a chance to tackle a new claiming and reach a new personal best.

Making a Terminal Decision

Deciding whether or not to accept a counteroffer can exist challenging. Information technology'south important to think near each of the previously discussed points and make a list of pros and cons. Y'all may find that y'all need more information about your potential new employer. In this instance, it's oft best to speak to your recruiter, so you have all the facts you need to brand the best choice for your personal and professional growth.

Other Relevant Blogs

5 Reasons Candidates Are Rejecting Your Job Offers

Discover some of the most common reasons candidates may be rejecting your chore offer -- counter offers might not be the simply culprit!

How to Make an Impact in Your First 90 Days

Our latest article helps yous tackle first-24-hour interval nerves and make a good impression during the first 90 days at your new job.

Your Guide to Moving from London to Scotland in the Financial Services Sector

Detect key insights and tips for moving N in our guide on relocating to Scotland. Nosotros'll help you find the right area, get settled and more than.

watkincamither.blogspot.com

Source: https://www.changerecruitmentgroup.com/knowledge-centre/why-you-should-and-should-not-accept-a-counteroffer