20 Oct How to Manage a Counter Offer
So you decided to find a new job and were successful! Congratulations! Now you’ve found, applied and interviewed for a role and been offered the position the hard part’s over, right? Well, maybe not. Half of candidates that resign receive a counter-offer from their employer. This is where an employer offers improved benefits, such as a promotion or pay rise, in order to tempt the employee to stay. So what should you do if this happens to you?
- Request a meeting with your line manager
Request a meeting with your line manager to discuss in detail any concerns you had about the company culture, your workload or opportunities for development that led you to seek a job elsewhere in the first place. Is your employer going to address all of these concerns with their counter-offer?
- Consider why you may be receiving the counteroffer
You can also use this time with your manager as an opportunity to establish why the counter-offer is being made to you. Are you a valued employee the company want to support in any way they can in order to retain your talents or do you believe the offer is being made merely to avoid recruiting and training costs of your replacement?
- Compare the pros and cons of your two offers
Now you understand the two offers available to you, it’s time to objectively compare them against each other. Consider not just the salary, but which opportunity will benefit your career in the long term. Which organisation aligns with your own values? Which offers the development and progression opportunities you’ve been looking for?
- Speak to your recruiter
Your recruiter will be very familiar with counter offers and both organisations. They also have your best interests in mind and will be able to provide an objective, informed independent opinion before helping you navigate negotiations and acceptance of whichever offer you ultimately choose.
- Revisit your reasons for moving on
It can be tempting to take an offer of a pay rise and stay within the comfortable, familiar surroundings, systems and teams you have grown used to. It’s important, however, to revisit your initial reasons for looking elsewhere. 80% of candidates who accept a counter offer from their employer end up leaving within six months. If the company culture or team dynamic is irreparable then it might be time to move on.
- Make your decision
Now you’ve considered all your options, it’s important to make a swift decision so you’re not keeping anyone waiting too long and alienating your future managers. As a general rule, try to do what is best for you for the long-term.