When you receive a counter offer, it’s tempting to accept it. After all, your current employer is offering you more money or better benefits, and they’re telling you that they value you and don’t want to lose you. But before you accept that counter offer, you need to think carefully about why you were looking for a new job in the first place, and what the long-term consequences of accepting a counter offer might be.
One reason why accepting a counter offer may not be the best decision is due to the statistics that show how often employees who accept a counter offer end up leaving the company anyway. In fact, according to a statistic released every year, around 80% of people who accept counter offers end up leaving within the following 6 months. This is because the underlying issues that led you to look for a new job are often still present, and promises made in the counter offer are rarely kept.
Another reason why accepting a counter offer may not be the best decision is that it does not necessarily address the underlying issues that led you to look for a new job. While money may be a motivating factor, career progression, opportunity, growth, and development are often equally important. If you were looking for a new job due to a lack of career progression or development opportunities, accepting a counter offer that only addresses the financial aspect may not solve the root of the problem.
Additionally, it’s important to understand that a counter offer is often more of a selfish move for your employer than it is for you. It’s cheaper for an employer to counter offer and keep a valuable employee than to recruit and train someone new. However, this does not mean that the employer suddenly values you more than they did before. In fact, if they truly valued you, they would have addressed the issues that led you to look for a new job in the first place, rather than waiting for you to hand in your notice.
Finally, when making career decisions, it’s important to focus on long-term goals and what you want out of your career, rather than short-term financial gain. While a counter offer may seem like a good way to make more money in the short-term, it’s important to consider the potential consequences down the line. If you accept a counter offer and the underlying issues remain, you may find yourself in the same position a few months down the line, still lacking career progression.
At Edge Tech, we specialise in connecting the best businesses with the best talent. Our team of experienced recruiters are at your disposal to help you reach the next step in your career. Get in touch with us at 01908 382 398 (UK) +1 628 254 5056 (US) or email info@edgetech.ai to see how we can support you.