Should You Accept a Counteroffer?

You’re at a critical career turning point: You’ve sought out and been offered a new job. Up until now, all your energy and concentration have been centered on landing the position. Now that you’ve grabbed the brass ring, your current employer has come back with a counteroffer – in the form of a raise, added benefits, a promotion and/or a new title.

Now what?

Be Prepared

If you’re a solid performer in your current position, be prepared for a counteroffer in the event you land a new job. It’s generally easier for your employer to keep you, rather than let you go – at least for the time being.

There are situations where accepting a counteroffer is the best thing to do. But there are also drawbacks. Whether or not to accept is a personal decision, and in order to make it wisely, you need to give serious consideration to your own situation and work/life needs.

Possible Fallout of Accepting a Counteroffer

In the event that you accept a counteroffer and turn down your new position, consider these potential implications:

• You may be considered disloyal and a potential flight risk. Be prepared to defend the reasons you were job hunting in the first place. Your employer will not forget this experience. The assumption may be that you will stay only until another, better opportunity arises.
• You’ll lose peer group acceptance. Word will get out – and the end result will be jealousy, bitterness and hard feelings.
• It may not solve the real problem. If your counteroffers doesn’t effectively address the underlying issues that made you seek greener pastures, then it will be nothing more than a Band Aid. Statistics show that the average employee stays with his employer less than a year after accepting a counteroffer.
• You’ll burn important bridges. Accepting a counteroffer hurts your relationship with the new company that has offered you a position, and potentially with other employers, as word gets out via industry networks. It gives you a reputation of being fickle, unreliable and capable of being easily “bought.”

Think First

Again, whether or not to accept a counteroffer is an individual decision, based on the specific circumstances surrounding your job, and your personal and professional goals. Before you reach this point:

• List all the pros and cons of your current position. Discuss them with your loved ones. Make an informed decision whether or not to seek out a job change.
• Identify the “motivation points” that would drive you to make a change. Do you need a bigger paycheck, more flexibility or increased responsibility? Meet with your current boss and discuss possible changes that could increase your satisfaction level. Ask him or her where they see your future with the company headed.

Partner with a Recruiter

After your decision to make a move is final and you’ve exhausted possibilities with your current employer, you may want to work with a recruiter who can assist you in finding the job that meets your needs and suits your lifestyle. Partnering with the right staffing firm can help assure that your job search and subsequent transition process are smooth and successful.

To learn more, contact the experts at BrainWorks today.