After weeks of subtly searching for a job, submitting countless resumes, and even attending multiple interviews, you see the light at the end of the tunnel… an offer letter. Now the time has come to inform your current boss that you’ll be confidently accepting a new opportunity and feel that it is best to take this step to further your career – and then it happens. The counter-offer. They ask you to stay and negotiations ensue… now what?
So, before you decline the new opportunity and settle back into a familiar setting – consider this:
The Numbers Don’t Lie
Statistically speaking, there are more reasons to decline a counter offer than to accept. National Business Employment Weekly shared that “more than 80% of those accepting counteroffers leave, or are terminated, within six to 12 months and of those who accept counter offers, 80% reignite their job search within three months.” These numbers align with what our team has seen in the industry since 2003.
Was It More Than Just Your Salary?
89% of employers think that employees leave for more money, according to OfficeVibe, when in reality, it turns out that only 12% actually do. Employees tend to leave because of poor management, lack of leadership, missing signs of career growth, or overall dissatisfaction with company values.
That being said, it is important to consider the bigger picture by asking yourself if you are truly happy in your current role. Are you being backed by management that supports your long-term goals? Are you being provided with the tools to be successful? If the answer is no, and you receive a counter-offer to remain with your current employer, a raise in your salary shouldn’t matter. Intangibles do not change overnight.
Exposing Vulnerability, Or Worse… Expendability
When a member of staff leaves, there is no question that this can bring hardships on the rest of the team and upper management. The counter offer may be a genuine request for you to stay, or it could be a way to bide time now that they know you are looking to leave. If you have expressed your desire to leave once before, it could be assumed that you are less loyal to your employer than other members of staff and therefor more expendable.
Irreparable Relationship Damage
Your relationship with anyone that knew you were intending to leave will likely be damaged – your relationship with your manager being most important. Aside from your manager’s vision of you changing, employees will be less likely to pull you in to projects, trust you with sensitive information, or consider you a team player, which will undoubtedly change the work dynamic, and not for the better.