You have finally reached the point in your life when you want to spread your wings and find greener pastures. It is time to look for new job and move on. You presently work with good people, but the offer is just to irresistible to turn down. A few days after you turn in our resignation letter, our boss approaches you and makes a counteroffer. It’s a surprise that now leaves you with a question of should you keep working there or should you leave? Sadly, it is not a simple question to answer.
A recent survey about resignation practices, almost 40% of HR leaders and senior executives agreed that when an exiting employee accepts a counter offer from the employer being left, it is not good at all. Even so, 80% of HR superiors and 78% of senior heads say that it is sometimes good to accept a counteroffer. These instances are rarely the same and it is difficult to identify the specific times they may happen.
It is undeniable that counteroffers are part of today’s company life. In the past years, there have been an increase in counteroffers, though no statistical hard data is available to prove it. These counteroffers are stressful for everyone concerned. There is tough competition for great talent and resignees are often tempted by unexpected counteroffers. If you suddenly find yourself in the same boat, here are considerations to help you:
• Money is vital but it should never be the sole reason for leaving or staying. The declaration to leave the company is often greeted by the question of money. In the study mentioned earlier, several executives said that it is an acceptable reason for leaving, but it should not be the only reason. Despite the promise of many companies that they help manage the careers of their employees, they usually don’t. Because of this, it is acceptable for employees to manage their own career by choosing the right job and employer.
• Think about the consequences of accepting the offer. If you accept the counteroffer, 60% of HR heads and 80% of chief executives say that the trust will be diminished. Also, the reputation of the board and executives will be compromised. The same goes for the rejected new company. Moving forward, 67% of HR heads and 71% of chief executives say that the higher-ups of the current company would end up questioning their employee’s loyalty. Watch out for the damage that comes with renegotiation an offer after accepting it.
• Keep an eye on the track record. Contemplate if your career will, indeed, benefit from that counteroffer. Sadly, counteroffers usually do not work. If they do work for the employee, it would only be for a short while. The employee who wanted to leave then held back would leave anyway after a certain period.
• Pay attention to the decision. When your boss tells you that they have been contemplating on giving you a better position, think about accepting it. This is a genuine reaction that could benefit your career. Ask yourself if you believe your boss would eventually give you the position if you stayed. If you think this is just a tactic to hold on to their employees because of the sheer difficulty experienced replacements, then it would be best not to accept the counteroffer.
• Step back a while. If certainty still isn’t there for you, it would be best to seek the advice of a trusted mentor to assess your situation. Your reputation is at stake. Once you are completely sure about your decision, you can easily reject the counteroffers (fake or otherwise) if doing so is for your good.
. Taking or rejecting the counteroffer can definitely shape your career and your future. Discern and then decide.