So after weeks, even months, of long recruitment processes, applications, phone calls and interviews, you have been offered a great new job. You’re delighted. Straight away you hand in your letter of resignation, only to be met with counteroffer of a much higher salary to stay at your current company. Now what?
If this hasn’t happened to you before, it is something you need to be prepared for. We strongly advise all our candidates not to accept a counter offer, here is why:
5 reasons why you should never accept a counteroffer:
1. It doesn’t address the underlying problem
You started a job search for a reason, perhaps you feel stagnated in your current position or you simply want a new challenge? These underlying problems will not disappear with a new salary, how long until you feel this way about your job after accepting the counteroffer?
2. It will affect your prospects in the company
From the moment you hand in that letter of resignation, you will never be looked at again in the same way within the company. You may have a raise for now, but for future promotions or opportunities in your company, the disloyalty will work against you.
3. Counteroffers do not mean you are more valued
The cost to hire a replacement and train them, particularly for more senior roles, costs a significant amount of money. Counteroffers can often be a measure to simply avoid the time and effort required to recruit a new employee. If so, what is the benefit of staying for your career prospects in this company? Counteroffers aren’t in your best interest; they are made for the benefit of the company costs.
4. It can impact your own network
Accepting a counteroffer also impacts the recruiter, your potential employer and everyone involved in the process. With LinkedIn and other social media sites – your network and what they think about you, plays bigger part in recruitment nowadays. Therefore accepting a counteroffer may impact how you are considered by your network when it comes to new opportunities.
5. It’s not all about the benefits
Although you might be happy accept a counteroffer and staying in your existing role, you were most likely looking for a new job for more reasons that just money. A higher salary might be attractive, but there is much more to job satisfaction than the pay!
If you are a candidate looking for new opportunities, why not get in touch and see how we can help you?