One of the hardest decisions that you may make in your next job search will involve what to do if your current company brings a counter offer to the table.
The legwork to find a new employer, having your resume perfected, and enduring the dreadful interview process has finally paid off and you have just been offered your next opportunity. You put in your notice to your current employer and just before you depart, they throw in the monkey wrench. The counter offer!
You finally got your voice heard and your company realizes your value so the counter offer may seem enticing. The best advice you should take is to never accept it and here are the reasons why.
1. What type of company, or people, do you work for if you have to threaten to quit or resign before they give you what you are worth?
2. Where is the money for the counteroffer coming from? It’s usually your next raise early. All companies and people have strict salary guidelines and budgets to consider. They get paid more when they keep the budget low.
3. Your company may immediately start looking for a new person at a cheaper price or someone they will have to pay as much as they have offered you.
4. You have now made your employer aware that you are unhappy. From this day on your loyalty will always be in question.
5. When promotion time comes around, your employer will remember who was loyal and who wasn’t.
6. When times get tough, your employer may begin the cutback with you.
7. The same circumstances that now cause you to consider a change will repeat themselves in the future even if you accept a counter offer.
8. Statistics show that if you accept a counter offer, the probability of voluntarily leaving in 18 months or being let go within one year is extremely high.
9. Accepting a counter offer is an insult to your intelligence and a blow to your personal pride knowing that you have been underpaid for a number of years.
10. When you resign, you have created a “crisis” situation in your boss’s mind. The boss immediately feels
c. Sense of loss
d. Sense of failure (He did think he could keep you on board for less money than he now offers.)
Remember. With your boss feeling this way, he usually has only one thing in mind. That is – keep you on the payroll until he can find your replacement.