It’s flattering to receive a counter-offer. There’s a lot to consider before making a decision.
Counter-offers are designed to keep you at your current company after you've received an offer from another company. A counter-offer isn’t always just about money – it may be location or a promotion or a benefit. Counter-offers should be expected, as nobody wants to lose their best people. It is a lot easier, and costs less, to make a counter-offer than to try to find a new person.
Here’s some things to think about:
1. 70% of People Who Accept a Counter-offer Leave Within 6 Months.
90% of People Who Accept a Counter-offer Leave Within 12 Months.
2. Your Reasons For Wanting To Leave Still Exist. Conditions are just made a bit more tolerable in the short term because of the raise, promotion or promises made to keep you.
3. Why Did It Take You Threatening To Leave To Get What You Want? Counter-offers are only made in response to a threat to quit. Will you have to threaten to quit every time you deserve better working conditions?
4. The Trust Is Broken. No matter what the company says when making a counter-offer, you'll always be considered a risk. You may find your relationship with your employer, and your standing with the company, has changed. You're now the one who wanted to leave. You'll lose status as a “team player” and you might be at the top of the list if your company needs to make cutbacks in the future.
5. They Will Look To Find Your Replacement. Counter-offers are usually nothing more than stall devices to give your employer time to replace you. Your company might just want time to search for a replacement, figuring that it's only a matter of time until you start looking around again.
6. You May Even End Up Training The Replacement! And then being let go!
7. You May Be Getting Your Promotion Or Payrise Early. Even if you get more money out of your company now, think about what it took to get it. You needed to have one foot out the door to get paid what you wanted, and there's no reason to think that future salary increases will be any easier. The next time you want a raise, you might be refused altogether on the grounds that "we just gave you that big increase when you were thinking about leaving".
8. It Is Generally In The Bosses (or Companies) Interest To Keep You. They aren’t thinking of your best interest. When someone quits, it's a direct reflection on the boss. Their gut reaction is to do what has to be done to keep you from leaving until they are ready. That's human nature.
9. They Will Continue To Think You Are Looking To Leave. What will they think the next time you need to go to the doctors or dentists?
10. And Finally……What’s The True Cost Of Replacing You?