6 Questions to Ask Yourself When You Receive a Counter-Offer
You’ve got the offer of a new job and whilst you are very excited about this new career opportunity, you are also starting to think about the daunting prospect of handing in your notice. When you finally coax yourself into it, your Manager sweeps in with a salary increase, promotion, change of role, flexible hours – all the things that will make you feel good and delay the all the painful consequences he is soon to face.
An average of 75% of candidates leave their employer within 6-9 months after being “bought back”, which makes this decision an even trickier one. Therefore to assist you in making this decision we have compiled the following six questions to ask yourself when you receive a counter-offer to help focus your mind during this difficult time.
1. Not so long ago, you either began actively looking for another job, or you reached a stage where you were open to hearing about new opportunities. Why was that? With the new counter-offer on the table, the original reasons why you began to look elsewhere may be overlooked for now but could resurface a few months down the line.
2. Do you really want to harm the relationship with your new potential employer? It is unfortunate but nonetheless important to remember that turning your new offer down for a slight pay increase or change to your responsibilities may have a detrimental effect on any future dealings with that organisation.
3. Why has your employer only thought to give you more money upon finding out about your desire to leave? The truth is they will have panicked at the prospect of you leaving them. But this last minute attempt to win you back as opposed to valuing your contribution to the business throughout your time with them isn’t great news if you were to have a future in that organisation.
4. Have you broken your current employer’s trust? Will their experience of this event hold you back from being picked to work on the best projects or even prohibit a future promotion? Although your current employer may pull on your heart strings at this stage, and question your morals and loyalty for even considering leaving the firm, you have to remember to make the best decision for you.
5. Are you worth more? If you left, your employer would be forced to pay out on average £30,614 (according to research by HR Review), to hire someone new. It’s much cheaper for them to keep you – as well as being the easiest option for them.
6. What will happen if your employer does not deliver what was promised? Often counter-offers are the product of a panicking manager, and are not as well-thought through as they might appear in the first instance. They may be more difficult to implement than anticipated, despite those initial promises.
It is not our business to make this decision for you, nor is it to persuade you to make the wrong choice for our own benefit and this is something you will never have to worry about if you work with us at Sheridan Maine. But we are absolutely here for you to advise and answer any of your questions during those times where you have to make those all-important decisions.
Just remember, you are in a great place, with two options on the table (well done you!) and you have the support of a real expert in the market with Sheridan Maine. For up to date, relevant advice on how you can progress in your accountancy or finance career, do not hesitate to get in touch with us at your local Sheridan Maine branch.
If you would like any further information about this article or event, we would be pleased to help you! Likewise, to understand more about how we could work with you to support your organisation’s recruitment strategy or find out about our current vacancies please get in touch with your local Sheridan Maine office or submit your CV here. We look forward to hearing from you soon!
Sheridan Maine’s unmatched knowledge of Finance and Accountancy Recruitment is why we are the go-to specialists for permanent, contact and interim positions for a broad range of clients across Basingstoke, Southampton, Reading, Portsmouth, Bournemouth, Bristol, London and Birmingham.