You've gone through the challenging process of applying and interviewing for a new job, and you've finally secured an exciting offer that will progress your career. But just as you're about to hand in your notice, your current employer presents you with an enticing counter offer, perhaps including a pay rise, promotion, or new responsibilities. While it may be flattering, a counter offer can leave you with a difficult decision to make. Do you stay in your comfort zone or take a leap into a new opportunity?
As specialist tech recruiters, the team at Oliver Parks has seen countless candidates grapple with this dilemma. We're here to help you weigh your options and make the best long-term decision for your career.
Why Do Employers Make Counter Offers?
It's important to understand the motivations behind a counter offer. Employers often make them as a knee-jerk reaction to avoid the inconvenience and costs associated with losing a valued team member. Consider:
- Replacement costs: Recruiting, onboarding, and training a new hire is expensive and time-consuming.
- Project delays: Your departure could disrupt timelines for critical deliverables.
- Team morale: Losing a well-liked colleague can impact the morale and productivity of your team.
While it may seem like your employer has suddenly recognised your value, their reasons for a counter offer may be more short-term and reactive than a genuine investment in your long-term career growth. Your Oliver Parks consultant can provide an objective perspective on the situation.
The Risks of Accepting a Counter Offer
While the familiarity of your current role and the flattery of a counter offer can be tempting, statistics show that accepting one can be risky:
- 80% of people who accept counter offers leave the company within 6 months.
- 90% of people who accept leave within 12 months.
The issues that caused you to look for a new job in the first place, whether it's lack of progression, a difficult manager, or a toxic work culture, are unlikely to change overnight. A pay rise or new title may provide temporary satisfaction but can't fix underlying problems.
Furthermore, accepting a counter offer after having one foot out the door can damage your reputation and relationships at work. Your employer may question your loyalty, and your colleagues may resent any special treatment you receive. It can be difficult to rebuild trust.
Your recruitment consultant at Oliver Parks can be a sounding board as you reflect on your true reasons for wanting to leave and whether a counter offer will genuinely fulfill your career aspirations.
Evaluating Your Options
Before making a hasty decision, take time to thoroughly evaluate your options. Revisit your original reasons for seeking a new opportunity. Will the counter offer address them in the long run?
Carefully weigh the pros and cons of each path:
- Compensation and benefits
- Career growth and learning opportunities
- Work-life balance
- Company culture and values
- Relationships with managers and colleagues
Remember, you embarked on a job search for valid reasons, and securing an offer from another company is a testament to your skills and marketability. Trust your initial instincts.
If you have doubts, your Oliver Parks consultant is here to talk through any concerns about the new role and reiterate why it excited you in the first place. We'll make sure you have all the information needed to make a fully informed choice.
Professionally Declining a Counter Offer
If you decide to decline the counter offer and accept the new opportunity, do so graciously and professionally. Thank your employer for the offer and reiterate your appreciation for your time at the company, but be firm in your decision. Your Oliver Parks consultant can help you craft a diplomatic resignation letter.
Prepare for a counteroffer in advance by setting a clear start date with your new employer. Stick to it to avoid awkwardness and damaged relationships.
While it may be uncomfortable in the short term, choosing the path that aligns with your long-term career goals and values will set you up for greater success and satisfaction. And you'll have the full support of your recruiter at Oliver Parks along the way.
Are you facing a tough decision about a counter offer? Reach out to the expert tech recruiters at Oliver Parks. With years of experience helping candidates navigate complex career choices, we're here to provide objective guidance so you can make the best decision for your professional future. Don't let a short-term counter offer distract you from your long-term goals. Contact us today for a confidential discussion.