If the Clashes 1980’s hit, Should I stay or should I go, be running through your head, I’m guessing you’ve been counter offered.
Let’s go back to the process that got you in this conundrum; you’ve either applied or been approached for a new opportunity. You’ve updated your CV, shared your story, attended interview, had referees contacted, presented with a letter of offer and resigned. You’re just about to sign the document and serve out your notice but now your current employer has made a counter offer. Usually this looks like an increase in salary and benefits, possibly even the promise of a new title or an exciting project.
Now what do you do? Do you stay or do you go?
Counter offers usually occur in a competitive market as organisations sometime realise too late that they need to keep their valuable talent. Firstly, I would suggest you consider the motive behind the counter offer. It is always flattering to be recognised, albeit at the 11th hour, that management need you in their business. However, this doesn’t usually solve the underlying issues that allowed you to pursue a new opportunity in the first place.
Some points to ponder:
- Once a resignation has been received, trust has been broken & can be difficult to reverse. Your loyalty maybe questioned.
- Money although a driver doesn’t always reflect job satisfaction
- Those deal breakers that had you considering a move will usually still persist
- Does your job security now become more expendable? Has your organisation now developed a contingency plan to manage without you?
Not to frighten you with statistics, but 80% of people who do accept their current employers counter offer often leave or are let go within a year.
Should you decide that it’s definitely time to go and pursue some new challenges, don’t forget it’s always worthwhile leaving on good terms.
Written by Margaret O’Malley, National Research Manager/Senior Consultant