Thinking of Taking a Counter Offer?

It may seem like the perfect situation, you feel like you aren’t ‘valued’ enough in your current position, so you decide to have a look around. After enlisting a recruiter and meeting prospective employers – you get offered a job with a bigger pay packet. However, when you hand in your notice to your boss they offer you a raise to keep you.

Should you take counter offer?

The Inspire Selection Team guides you on what can happen if you do and how to manage this tricky situation.

The risks

Whilst it is always nice to feel wanted, and a pay rise and the offer of more responsibility with your current employer could look like an attractive proposition, in reality accepting a counter offer often comes with more downsides than upsides in the long term.

According to studies, the average employee stays with his company less than a year after accepting a counter offer, accepting a pay rise only solves one area of dissatisfaction, the underlying issues, the reason you were looking for a new career in the first place, will still be there.

Once you have made your employer aware that you were looking for an opportunity your loyalty could always be in question, if strategic decisions are being made, such as redundancies, company loyalty may play a major factor deciding who will stay and who will go, and it’s not just the employer relationship that may be damaged, once the word gets round, you may never enjoy the same relationship with your co-workers. Essentially and ultimately your relationship with your employer is now almost entirely based on cash and the knowledge that you can be bought.

Importantly you should consider whether you want to remain in a company where you have to threaten to leave them before you are rewarded for your hard work.

Considering your position

So if you are feeling undervalued in your job the Inspire Selection team suggest the following tips:

  • Talk to your boss many people are nervous of telling their boss they are unhappy, but it doesn’t need to be negative, asking their advice and discussing your combined long term plans can help you decide if there is a future for you in the business.
  • If issues cannot be resolved – be open and honest with your recruiter about your motivation for a move and why you are seeking a new opportunity. Speak openly about your current compensation plan and what kind of offer you are willing to accept, be honest and don’t change your mind or you’ll lose your credibility.
  • After interviewing, have a detailed de-brief with the recruiter. Now is the time to pull out of the process if the opportunity is not right for you, after having all your questions answered, if you are excited about the opportunity discuss what package you’d be happy to accept with your recruiter.

The only reason for turning down an offer after this point is if the company does not match your requirements in terms of benefits.

By truly understanding your motivations for your move, your position in your existing company and by working with your recruiter to find the ideal new opportunity, you can be sure that you are moving roles for the right reason and a counter offer won’t persuade you to stay.

When you hand in your resignation, you need to be confident that the new opportunity is the right one for you.  After all, If you are easily persuaded by the offer of extra money, then you haven’t done a good job of finding the right opportunity.

If you need any more information on how to deal with counter offers please do not hesitate to contact a member of the Inspire selection team.

Recent Posts

Alexa! – Will ChatGPT take my job?

We were lucky enough to hear the team at Mercer present their 2023 Global Talent trends report at a recent career networking event. One fact that stuck out is that 50% of workers will need reskilling by 2025, but does this mean that our jobs are at risk? As artificial...

Document Attestation

In the UAE you will need to get documents and certificates attested before applying for your visa. Attestation is a procedure of authenticating a document by an authorised person, a department or an authority using their seal and signature to guarantee it’s...

5 Tips to Staying Motivated During a Long Job Search

Searching for a job can be exhausting. You spend your time working hard on time-consuming applications, networking and interviewing, then the rejections and lack of feedback can chip away at your self-confidence and destroy your motivation. It’s hard to stay upbeat...

The One-Click Job Search….. it doesn’t work

We recently joined The University of Manachester for their MBA careers event where we were selected to be part of an expert panel and Q&A session. The common thread was that many job seekers find a job online, hit ‘quick apply’ and expect to get the job. The...

Stand out in a competitive marketplace with personal PR

Six seconds is the average time employers spend reading a CV. And during these competitive times, ticking all the boxes your previous job required is far from enough. People are seeking more value - whether it’s from brands on social media or from an employee in the...

Ten Top Tips for a Successful Video Job Interview

CONGRATULATIONS! You have an interview! We understand that interviews can be stressful at the best of times, but the switch away from face-to-face interviews to those conducted by applications such as Zoom and Microsoft Teams throws up more challenges (for generic...

Survey Results – Will job seekers drop their salary?

We are seeing a regional trend of jobs being offered to market at lower salaries than ever before and overall packages being squeezed. We recently ran a survey asking our vast LinkedIn network whether they would take a salary cut. ***A quick note here about Inspire...

Career Development Training

You’ve decided that you want to start a new career, or perhaps you’ve been looking for a while but that perfect opportunity hasn’t arisen yet.  Perhaps you are between jobs and you now have time to improve and develop on your career/life skills. Now is the ideal time...

The Magic of Kindness

Today is World Kindness Day: Everybody could do with some kindness at the moment and whilst the world has been stumbling to catch up through a global pandemic, we have been overwhelmed to see acts of kindness within our...