Job Seekers

Dealing with counter offers

Counter offers are very common in today's market. In many cases, companies suffer a 'knowledge drain' when people leave and it is costly for them to hire and train new employees. Importantly, most employers don't realise the value of their employees until it is too late, which is likely one of the key reasons you were assessing your options in the first place.

When presented with a counter offer, you will need to make a difficult decision. Personal and business ties can come into play which can make it harder to leave the familiar environment. It is only natural to think about the trusted relationships you have built, knowledge of the existing role, current travel arrangements and the comfort factor that each of these bring.

In many cases, an employer will make a 'counter offer' when you hand in your notice. This may cause you to rethink your options, especially if there are more favourable terms offered. You may have gone into the process knowing a counter offer would be extended or it may come as a complete surprise.

If you find yourself in this position, keep in mind that 99.9% of the time, there will have been many compelling reasons over and above simply salary that have made you consider your options and look for a new career opportunity. In almost all cases, you will have initiated a search for a change in circumstance or career prospects. This is where your true career motivations will become apparent to yourself, your future and current employer - is it all about money?

Research shows that in almost all circumstances, money is not the key motivator in a person looking to enhance their career, and it very rarely addresses the compelling reasons for you seeking change.

A salary increase as part of a counter offer may seem attractive on paper, however a $10,000 dollar increase equates to forty dollars per day, before tax. Ask yourself: is this likely to make a significant impact on your happiness compared with being in a position that makes you miserable?

Of critical importance are the statistics in this area - statistics clearly show that 80% of people who accept counter offers will leave within 6 months. This is because the same circumstances that caused them to consider a change inevitably repeat themselves in the future, even if you accept a counter offer.

So What Is The Solution?

You should always go back to the core reasons that made you consider other options in the first place.

Whether you change positions now or in the future, the fact remains that you have made that decision to move and you should focus on finding the right career opportunity for you.