Tips from a Recruiter: Counteroffers

This post was written by our partners at Corps Team.

Picture This – You are searching for a new job (for any number of reasons), complete the interview process, and receive a job offer only to be “counter offered” by your existing company. Employers often use counteroffers to retain high-value employees who receive interest from other companies.

But why did they wait until you’re ready to resign to show you how much they value you?

A study from Hanover Research cites the top reasons NOT to accept a counteroffer.

  1. Your Loyalty Will Be Questioned– You’ve threatened to quit and no matter the relationship with your supervisor prior, it will never be the same. You are more likely to be viewed as expendable than other employees who have not handed in their resignation.
  2. It Will Not Guarantee Job Satisfaction– 60% of people who accept a counteroffer leave within 12 months. The root cause for wanting to depart in the first place still may not have been addressed. Eventually the “happiness” of extra money or perks will wear off.
  3. Pay Discrepancy– Always know your worth! Research market values and talk to your supervisor about your compensation BEFORE you decide to resign. If they value you and want to keep you, they will act accordingly. A counteroffer is too late.

Tips for Declining the Counteroffer

Once you’ve decided it is not in your best interest to accept, you should:

  • Be Professional – Remain polite and don’t burn any bridges. You never know who you might work with in the future.
  • Be Prepared – Explain the reasons you are declining if you are comfortable. If you want to keep it private, just professionally state that you are ready for a new challenge elsewhere.
  • Be Positive – Express your thanks for the counteroffer and ensure the proper transition of your existing duties prior to leaving.

Counteroffers can cause us to doubt our readiness to leave and it’s always easier to play it safe by staying where you are comfortable. But you had original reasons to resign in the first place, so don’t be tempted by a temporary solution. Trust your gut and go.