Let’s talk counteroffers.
According to a study conducted by Achievers, 67.5% of managers have extended a counteroffer to an employee once informed there’s a new opportunity available. Needless to say, counteroffers are quite common. In fact, many companies have processes in place dedicated to counteroffers.
Based on these stats, let’s assume your current company presents you with a counteroffer. There’s no doubt this situation can be very tricky. Nevertheless, counteroffers pose the question of “do you stay or do you go?” So do you stay where you’re unhappy or venture out into new unfamiliar, but exciting territory?
With extensive experience in the recruiting industry, counteroffers are customary in our field. Our subject matter experts partner with the industry’s top construction candidates who are presented with counteroffers almost weekly.
Here are our top three reasons why you shouldn’t accept a counteroffer:
1. The Underlying Issue Is Not Solved If you accept the counteroffer
Everyone has a reason for leaving their current role. Whether that be there’s little to no room for growth, poor management, or you’re just genuinely unhappy with the job. At this point, you’ve tried everything and you may be feeling defeated. You’ve taken the initiative to talk to upper management about the issues you’re experiencing and your concerns about advancement within the company. Yet at the end of the day, you do not feel heard.
As a result, you’ve found a new position, put in your notice and they present you with a counteroffer. Yes, if you accept you could be making more money. Now you must reflect if the main issue is really solved, or are they just putting a bandaid over a major internal issue?
2. Job Security
According to statistics from Forbes, “the average person who accepts a counteroffer leaves their job within six months.” Whether your employer uses this time to find your replacement or you choose to leave because nothing has changed, either way, you are still without a job. Before making the decision to stay, ask yourself is it really worth enduring the job search and interview process again? After all, think of all the time involved in exploring new possibilities of employment. You don’t want that to go to waste.
3.Your Loyalty & Dedication Could Be Questioned
Although a higher compensation at your current employer may be appealing, the opportunity for advancement is equally important. After all, accepting a counteroffer may tarnish your reputation with your current employer. This in turn could cause the employer to question your loyalty and dedication to their firm because they’re aware you’re unhappy. When discussions about promotions and advancement arise, this could potentially leave you to be the last person they think of when making a decision. Do you really want to take that risk by accepting a counteroffer?
Career advancement does not come easy, however, being aware of some of the obstacles such as counteroffers can help lead you in the right direction to have a better and more successful career. In conclusion, before you decide to accept a counteroffer, be sure to ask yourself the following questions: