Counter offers are a frequent event when resigning to move to a new employer and although at the time they can seem flattering you need to ask yourself why it has taken your resignation to get an improved offer and if the reason for the move is not purely financial how will your situation improve by staying?
The following points were taken from a recent Wall Street Journal article and each one is very valid and should be thoroughly considered:
- What type of company do you work for if you have to threaten to resign before they give you what you are worth?
- Where is the money for the counter offer coming from? Is it your next raise early? All companies have strict wage and salary guidelines which must be followed.
- Your company will immediately start looking for a new person at a cheaper price. In many cases, you could be training your replacement.
- You now have made your employer aware that you are unhappy. From this day on your loyalty will always be in question.
- When promotion time comes around, your employer will remember who was loyal and who was not.
- When times get rough, your employer will begin the cutback with you.
- The same circumstances that now cause you to consider a change will repeat themselves in the future even if you accept a counter offer. Things about your position and company rarely change.
- Statistics show that if you accept a counter offer, the probability of voluntarily leaving in six months or being let go within one year is extremely high. 85% of people who accept are gone in six months, and 90% of people who accept are gone in twelve months.
- Accepting a counter offer is an insult to your intelligence and a blow to your personal pride knowing that you were bought.
Once the word gets out, the relationship that you now enjoy with your co-workers will never be the same. You will lose the personal satisfaction you once enjoyed from peer group acceptance.