Counteroffers – to Accept or to Decline, that is the question
We have noticed much debate over social media (mainly LinkedIn) on why you should either accept of decline a counteroffer.
There are a lot of good arguments for both, but the final decision is based on the circumstances of the individual. Our advice, of course, will always be to decline the counteroffer. Why? Put simply, if they could have offered that amount before, then why didn’t they?
Putting our own personal beliefs aside, here is a list of questions to ask yourself. Measure the pros and cons for each outcome and let the facts decide for you.
- Why did you decide to interview at another company?
- Do you think your loyalty will be questioned?
- Do you feel appreciated as an employee?
- Do you feel well compensated?
- Does the counteroffer solve the issues that made you decide to look for other employment?
- What path will better accelerate/progress your career?
- Where do you think you will be the happiest?
A few other things to consider if you accept a counteroffer might be:
- It might take you longer to get a raise in the future
- Employers might look to replace you now that you are at a higher salary
- You might be the first to go during an economic downturn
- Damaged relationships
If you are planning to decline a counteroffer, then our next piece of advice is to end things on good terms.
Be honest with your current employer and do an excellent job until your last day. Don’t burn bridges, who knows, you might not like the new gig and want to come back. If you have done a good job and leave on good terms, the company will usually welcome you back.