Considering a Counteroffer? Here’s What to Keep in Mind
Considering a Counteroffer? Here’s What to Keep in Mind
Congratulations! You have just accepted an incredible job offer from another company. After handing in your letter of resignation, your current employer responds with a counteroffer – now what?
Undoubtedly, a counteroffer will include at least one of the following:
- Increase in compensation
- Better job title and responsibilities
- Added benefits
- Promises of a more defined career track
- Comments about the other company that plant seeds of doubt
- Guilt — “You can’t leave us now, we are in the middle of x, y, and z.”
And so, you are faced with a dilemma: to accept the counteroffer and stay at your current company, or pack your bags and move on?
Of course, the easier choice is to stay. The anxiety of starting fresh at a new organization is a thrill some executives can do without. Not everyone wants to prove themselves all over again. However, even though starting a new leadership position can have its hurdles, that doesn’t mean it’s the wrong career move.
Before you decide to accept a counteroffer, reflect on the following questions.
What are your current employer’s intentions?
Did your company present a counteroffer because they genuinely believe you are irreplaceable, or are they keeping you around to “save face” and make their job simpler? It’s much easier to persuade you to stay rather than spend time and resources looking for a replacement.
Where is the counteroffer coming from?
If your value at the current company increased in a short time span, how did they suddenly manage to provide you with the enticing offer? While they may have had the budget, it’s possible that they are just offering you next year’s salary increase or promotion in advance.
Will there be a ripple effect?
Consider any consequences behind the counteroffer. If changes are being made at the company to accommodate you, how will it affect the rest of your team? Are things going to shift in the right direction, or will they lead to resentment? Chances are that the dynamics of your professional relationships will change. You may have to deal with distrust; if you resigned once, thoughts might be that you will look to leave the company again.
Why did you resign in the first place?
At first, accepting the counteroffer will make you feel valued. But how long will that appreciation last? Consider if accepting the counteroffer will resolve the existing issues you have with your current company. Or will it make you regret not seizing that new opportunity?
It can be very flattering to know that your current company is willing to present you a counteroffer and try to convince you to stay. But if your original decision to accept a job offer at a different organization was motivated by the right reasons, stick with it. You will walk away from your current employer with no regrets and start off your new position with dignity and confidence.
Bristol Associates, Inc. is an executive search firm with over 55 years of excellence in recruiting nationwide. Bristol specializes in recruiting for the Casino Gaming; CBD; Facility and Concession; Food and Beverage Manufacturing; Healthcare; Hotel and Resort; Nonprofit; Restaurant and Foodservice; and Travel, Tourism, and Attraction industries.
If you’re interested in working with Bristol Associates, click here if you’re an employer or here if you’re a candidate.
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