This is a bug bearer of mine and always has been.
We are all aware of the general statistics around candidates who receive counter offers – 80% of those who accept counter offers leave, or are terminated, within six to 12 months. And half of those who accept counter offers reinitiate their job searches within 90 days.
So based on this, my advice to both Candidates and Employers is….
4 Reasons for Not Accepting a Counter Offer
• Your employer is now aware that you are unhappy,
• Accepting a counter offer rarely changes the reasons why you were looking for a new role to begin with.
• You shouldn’t have to threaten to leave a company before they realise your worth
• Why is it now that they offer you this promotion or pay rise? It’s because it’s easier and cheaper for them to keep you than to spend the time trying to find your replacement and train them to your level.
Candidates – Please think about your original reasons for looking to leave and will the counter offer change this?
Will you be in the same situation again in 6-12 months’ time but having lost out on a great opportunity.
Please think about your real reasons for looking to leave before actively searching the job market or posting your CV online.
Clients – It’s never great to receive a resignation letter from a member of staff that you don’t want to lose but it shouldn’t get to this point in the first place – to realise your employees potential and their worth.
Counter Offers can be costly and not only effect the immediate parties involved – is this really going to pay off in the long term?