Should You Accept a Counteroffer? The Pros and Cons
Imagine this - you’ve interviewed with a great company for a role you’re interested in and accepted the position. You know the conversation with your current employer won’t be pleasant, but you let them know and give them the two weeks’ notice that’s required of you. You’ve crossed your ‘t’s and dotted your ‘i’s; all is well. Then, out of the blue, your current employer presents a serious counter-offer – we’re talking increased benefits, a very generous RRSP contribution, more salary, more time-off – the whole deal.
What should you do? If you're finding yourself considering a new role or opportunity, a counter-offer scenario may not be one you’re anticipating, but its more common than you might think. While it may seem like a good deal, there are several risks associated with accepting. In this blog post, we'll discuss some of the potential downsides of accepting a counteroffer and help you decide if it's the right decision for you.
The Risks of Accepting a Counteroffer
There are a number of potential risks associated with accepting a counteroffer, including:
You may be seen as a flight risk. If you accept a counteroffer, your employer may see you as someone who is easily persuaded to leave. This could make it difficult for you to get a promotion or raise in the future.
You may be passed over for future opportunities. If your employer is willing to give you a counteroffer, it's likely that they have other qualified candidates who would be willing to accept the job at your current salary. This means that you may be passed over for future opportunities, even if you perform well in your current role.
You may create resentment among your colleagues. If your colleagues find out that you received a counteroffer, they may feel resentful that they are not being paid as well as you are. This could lead to tension in the workplace and make it difficult for you to work effectively.
You may not be happy in the long run. If you accepted a counteroffer because you were unhappy with your job, it's likely that you will still be unhappy in the long run. This is because the underlying issues that led you to want to leave your job in the first place will still be there.
What to Do If You Receive a Counteroffer
If you receive a counteroffer, it's important to carefully consider your options before making a decision. Here are a few things to keep in mind:
Talk to your current employer about why you're thinking about leaving. This will help you to understand their perspective and see if there are any ways to address your concerns without having to leave the company.
Do your research. Before you make a decision, it's important to research the market value of your skills and experience. This will help you to determine if the counteroffer is actually a fair offer.
Think about your long-term goals. If you're not happy in your current role, it's important to think about your long-term goals. Are you willing to stay in your current role for the long haul? Or are you looking for a new opportunity that will allow you to grow and develop?
A counteroffer can be tempting, but it's important to weigh the risks before making a decision that could significantly impact your future career growth. If you're not sure if a counteroffer is the right decision for you, it's always a good idea to talk to a career counselor or a trusted friend or family member.