Life can only be understood backwards, but it must be lived forwards.
So, you’ve made the leap to take up a new job offer? Congratulations! One of the most common things to happen during the resignation period is receiving a counteroffer from your current employer.
Whether it’s the promise of more money, enhanced work perks such as a more flexible working style, or increased responsibility, accepting a counteroffer is never a good idea. Still on the fence?
Have a read of our top 6 reasons why not to accept a counteroffer below.
What is a counteroffer?
A counteroffer is a proposal made in response to the new job offer you have received. It’s usually made by your current employer in which they offer a new job proposal in the hope you will stay.
Why not to accept a counteroffer
1. Loss of trust
According to a study by the Harvard Business Review, 71% of Senior executives and 67% of HR leaders said that they would question the employee's loyalty going forwards if they accepted a counteroffer.
These feelings could lead to unfair treatment in the future, as well as a lack of opportunities compared to other employees.
2. Resentment among colleagues
Your manager may be left feeling blackmailed after their hand was forced in making a counteroffer, so they didn’t lose you. This could cause unpleasant tension in the office, which could, in turn, be picked up on by other colleagues.
In addition, colleagues may feel like you’ve received unfavourable treatment, which could lead to an unpleasant working environment.
3. It will not guarantee job satisfaction
It’s important to think about the reasons why you were leaving the job in the first place when considering a counteroffer. Whether it was a lack of pay, poor working conditions or too few progression opportunities, a new offer doesn’t guarantee that any of your workplace goals will now be met. According to statistics, over 50% of people that accept a counteroffer end up leaving the job within 6 months.
4. It may be a long time before you get another raise
By proposing a counteroffer, your employer likely felt like they had their hand forced in offering you a raise. In this sense, they are not going to be likely or willing to give you another raise in the near future, even if it was in the plans before you handed in your resignation.
While your current employer’s counteroffer may have been higher than your new job offers, there will be plenty more opportunities to progress quickly in a new role, with many employees receiving a raise at the end of their probation period.
5. Counteroffers can be a stall tactic
Your resignation may have come as a surprise to your current employer and could have caused them to panic about losing you as a resource. However, they may have offered you a higher salary for a short while as they look for a replacement who will accept lower pay. In this sense, your job security is highly compromised when accepting a counteroffer.
6. Lack of future progression
When promoting individuals internally, business leaders look for employees that have been with the business for a long time and who have shown consistent loyalty. Now that you’ve revealed a job change is on the cards, you’re unlikely to be chosen for a senior position as there’s a risk that you’ll leave that position for something better.
Overall, accepting a counteroffer can be a very damaging move for your career. Once you’ve decided to make a career change, it’s best to stick to your gut instinct and make the move.
For more advice on getting through the resignation period, keep an eye on our upcoming blog posts.