Of course it’s flattering. Who wouldn’t want to receive one? But the reason you receive a counter-offer is not the complement you would always imagine and every candidate should think very carefully before accepting one.
Why do companies counter-offer their staff?
That extra few thousand pounds will come in handy, and the possible promotion sounds very tempting, but many firms counter-offer simply because of the time and cost associated with having to replace a member of staff. There are advertising, recruitment and training costs, time lost spent interviewing and the time lost covering the work of the outgoing employee with no guarantee of success. Furthermore it often becomes a matter of pride; losing a member of staff feels like a firm has lost control. That they can no longer offer the right environment for that individual. And that can have an impact on the rest of the team.
What do I need to think about?
Why has it taken your potential exit for your employer to start talking about pay rises, training and promotion? The best businesses have the highest rates of staff retention because they stay ahead of the game and ensure that their employees are regularly appraised to ensure their needs are being met. If it needs your resignation to spark action, are they the right firm for you?
It is also important to remember that far from advancing your career it can in fact hold you back. Six months down the line and an opportunity for progression comes up. It is between you, the person who was all set to leave, and person B, the office stalwart, loyal to the core. Who stands the best chance? For most businesses, it will be person B as otherwise what message does it send out to the rest of the workforce?
The most important thing to do at this stage is remind yourself of why you took the objective decision to move on. Following a resignation your subjective, human emotions play havoc. You realise that the boss who drives you mad is nice really. That the dysfunctional admin function are trying their best. That staying put is the safe, risk free option. Most humans do not like change and the thought of starting again at a new company can suddenly stop being exciting and turn nerve-racking. However you took the sensible, fact-based decision to move on and as tempting as it is to play it safe follow your head, not your heart.
A recent survey published via Linkedin suggested that 90% of employees who accepted a counter-offer were back looking for a new job within 12 months. You have been warned!