Counter offers: a problem solver or just a financial plaster?
We’ve all been there. You’ve made the decision to look for a new job, you’ve done the application process, been through a (sometimes lengthy!) interview process and have just been offered a new role. Now it’s time for things to get real and hand in your notice – but you’re met with a counter offer from your current employer, throwing a spanner into the works.
You’re not alone – around 50% of candidates who resign from their roles receive a counter offer. In recent years, counters have become increasingly common across both senior and more junior positions. But where this might be the solution for some people – if money was the reason that made them look for a new job in the first place – for others it may just be putting a financial plaster over deeper issues.
Alongside the familiarity of a job and company you already know, it’s tempting to stay put with a shiny new package. But it’s likely not long before the cracks begin to reappear – the proof is in the pudding, as 9 out of 10 candidates who accept a counter offer leave their current employer within the twelve-month mark anyway.
This is why it’s so important to weigh up the pros and cons and remember that sometimes the grass can, in fact, be greener on the other side. Try not to be blindsided by more money on the table – instead look at things such as progression opportunities and what motivates you to continue working at your current company. Ultimately, if a counter isn’t going to solve what first made you debate a move, it’s more than likely not going to be a permanent fix.