With the economy heating up over the last few years, where there once was an abundant talent pool, today that’s not the case. Companies are finding it harder than ever to recruit, hire and retain skilled employees, especially in the technology and science fields. Counteroffers are now becoming a big issue in recruiting, as companies try and keep valuable employees from leaving their organizations short-handed.
Just because you receive a counteroffer from your current employer doesn’t mean you should necessarily take it. It is important to keep the reasons why you were considering leaving your current position in mind, when you are preparing to give your boss your two weeks notice.
1. You received the counteroffer solely because you said you were going to be leaving the company. The counteroffer is often made in a moment of panic, with managers thinking about upcoming projects/busy seasons they need you to work on. If you have to turn in your resignation to get the raise/promotion promised in a counteroffer, is that really the type of company you want to work for? Because it probably wasn’t given based on merit, but rather so the company wouldn’t have to look to replace you.
2. Do your reasons for leaving still exist? If they still do, then turning down the counteroffer shouldn’t be difficult. A higher salary is hardly ever the only reason for resigning, and being offered more money doesn’t change the environment and the way things are handled. Things usually don’t take too long to return to the way they were before you presented your resignation.
3. Your employer may view you as a flight risk in the future which could hurt your chances for promotions. They may not consider you to be a member of their “inner circle” anymore. Trust will most likely be weakened, and that is something that is near impossible to earn back.
4. The counteroffer may be given just to keep you doing your job while the company now looks to replace you with a long term employee.
Now, of course there are times when accepting a counteroffer makes sense, but it’s so often a bad idea that you should be very, very cautious before doing so.