When you sit down with your manager and say you’ve taken a job elsewhere, chances are (if you’re a valued employee) they’ll offer you a salary increase, promotion or other incentives to get you to stay. Numerous studies show if an employee accepts a counter offer, they are more likely to be gone from the original company within 12 months than still working there. (Some studies put the number at 50 percent1, others are at 70-80 percent2 and another study has the number approaching 90 percent3). Therefore, you’ll want to take some time to think about whether remaining with the company is in your best interest. Here are some areas to consider when deciding whether to accept a counteroffer.
You Want More Than Money
Determine why you were searching for a new job in the first place. Although you may want to earn more money, chances are you could do that elsewhere, and that’s not the main reason for leaving your current role. Perhaps you aren’t satisfied with your job responsibilities. Maybe you’re seeking more flexibility, a different company culture, new colleagues or greater challenges. Perhaps you’re moving to a different industry to pursue an interest or passion. If you accept the counteroffer, you’re not going to accomplish what you set out to do. A higher salary is great but those reasons you really went out on the job search will not go away. In six months, your bank account is bigger but you still won’t stand the company culture.
Moving on Feels Appropriate
When thinking about the potential results of accepting a counteroffer, realize that your job may be in jeopardy. According to the staffing company’s survey, over 80 percent1 of respondents said relationships with co-workers deteriorated after accepting a counteroffer, resulting in decreased productivity for the company. Therefore, your manager will most likely keep you around until they find your replacement. Even if you get paid a more in the short term, the business saves money by keeping your position filled. Since you’ve already expressed interest in leaving the company, it’ll be easier letting you go when someone new comes aboard.
Future projects may go to a co-worker and not you since you don’t appear to be fully vested in the company. Your manager wants to develop the employee who will be staying for five years and not just five months.
Consider whether you’ve asked for a salary increase, promotion, more time off or a flexible schedule in the past and were denied. If so, your manager isn’t being sincere if you’re given those perks on condition of remaining in your role.
If you do accept a counteroffer and receive a pay increase, you’ll be expected to perform at a higher level. You may not feel motivated to do so if there are other reasons you want out of the company. Give serious consideration to whether you’ll be happy three or six months from now if you accept the counteroffer, and whether you might get another opportunity elsewhere if you must resume your job search.
Work with a Top Staffing Agency in Atlanta
Deciding to accept a counteroffer may not be in your best interest. To secure your next position, get in touch with the staffing professionals at Employ Partners today!
1 – http://www.careercast.com/career-news/pros-and-cons-counteroffers
2 – http://money.usnews.com/money/blogs/outside-voices-careers/2012/03/26/why-you-shouldnt-take-a-counteroffer
3 – http://insights.dice.com/2012/12/26/consider-warnings-before-accepting-counteroffer/