Interviewing Information

Beware of the Counteroffer

If you have accepted an offer from a new employer, and, on giving your notice to your present company, a counteroffer is made, you should consider the following:

Ask yourself if you were worth "X" dollars yesterday, why are they suddenly willing to now pay you "Y" dollars today, when you were not anticipating a raise for some time.
Consider the fact that your present employer could merely be "buying time" with this raise until he can locate a replacement. Suppose you were given an annual raise of $3,000 as a Counter Offer. When they find a replacement for you in, say 60 days, then the actual cost to them is only $500.
Is just more money going to change everything in your present job? Consider the new opportunity you will be giving up that looked so favorable when you accepted it.
The company will probably feel as though they have been "blackmailed" into giving you a raise when you announced your decision to leave.
Realize that you are now a marked man. The possibility of promotion is extremely limited for someone who has "given notice." The company is vulnerable, they know it and will not risk giving more responsibility to someone who has previously committed to leave.
When economic slow-downs occur, you could be one of the first to go. You indicated your intention to do so once before, so it is only natural that your position would probably be eliminated in a slack period.
You should know that statistics compiled by the National Employment Association confirm the fact that over 80% of those people who elect to accept a counteroffer and stayed, are no longer with their company six months later.
Carefully review in your mind all the reasons you wanted to make a change in the first place. Does the counteroffer really offset these reasons?
If you intend to seriously consider a counteroffer, be sure to ask your present employer to confirm all the details of said offer in writing.

We strongly urge you to carefully think about all these facts before making a final decision. It is your career, your livelihood. One imprudent mistake at any time could be very costly in terms of your professional growth.

More often than not, seriously considering a counteroffer is a mistake. It would be better for you, and all others concerned, to approach your boss in advance of making the decision to leave your current employer, to determine if adjustments can be made to your current situation, that would make you WANT to stay where you are now.

Please take time to read some articles that have appeared on this subject, so that you are prepared when the counteroffer issue does come up (and it will). About 90% receive counteroffers upon resigning. It's expected, so be prepared.

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