Counter Offers During the Pandemic
A job offer is exciting news! But instead of letting you walk away, your current employer is begging you to stay and offering you more money. The ball’s in your court—should you stay or go? Are you ready to take the next step and advance your career? It’s totally up to you, the story is yours to write. Here are some tips to dealing with counteroffers from your employer.
Why companies make counter offers
Companies are willing to suddenly offer an employee more money simply because they don’t want to spend the time and money to recruit, interview, hire, and train a replacement. That process can be lengthy, and it’s much easier and cheaper to just give a current employee a counteroffer. A good replacement can be really tough to find, and there’s no guarantee that they’ll even find someone worth hiring, especially in a highly skilled position. Or an employer really doesn’t want to lose an employee to a competitor.
Sit tight where you are
If you’re comfortable in your company, you buy into their mission and vision, you feel challenged, and you generally get along with your coworkers, you might consider accepting your employer’s counteroffer. But the truth is that if you accept a counteroffer, there’s a 70% chance you’ll be gone from that company within the next year. Either you’ll quickly remember the reasons that you wanted to leave in the first place or you’ll be expendable. Your employer now knows that you were disloyal and you’ll be the first to go if they suddenly need to restructure or downsize.
Know that money can’t solve all problems
Remember that you started a job search for a reason. Was it a toxic work environment? A long, painful commute? Or a lack of opportunities for growth and development? Consider your personal happiness. Yes, money and security are important, but if you’re truly miserable in your current role, extra pay won’t solve the problem. Chances are your reason for leaving still exists even with a counteroffer, and you might find yourself looking for new opportunities again in a few short months.
Prepare for new opportunities
A higher salary isn’t the endgame when it comes to your career. Think about your long-term goals—is this new role a stepping-stone for your personal and professional growth? Make a list of pros and cons and don’t hesitate to speak to your recruiter and gather more information from your new potential employer.
Take the next steps
Deciding whether or not to accept a counteroffer can be a challenging one. A new company might be just what you need to advance your career. But if and when you decide to turn it down, it’s best to leave on good terms. Tell your boss first, in person, but also provide a letter of resignation, both to your boss and your HR representative. Keep it simple and give a precise end date. You don’t have to give a long, elaborate explanation about why you’re leaving, but you should be honest.
Tell them you’re looking for new challenges, to advance your career, and for more professional development opportunities—whatever makes most sense to you. The story of your career is yours to tell! Assure your supervisor that you’ll do everything in your power to wrap up your assignments and make the transition as smooth as possible. Then follow through. Leave them in good hands so you don’t burn any bridges.
For more tips on weighing the pros and cons of pursuing a new challenge or staying put with your current employer, check out our website at https://www.chiefofstaffkc.com.