Employers never wish to lose their top talent to other opportunities. As such, the counteroffer is becoming more common in the workplace. Instead of just letting an employee go, employers will present resigning employees with incentives to stay. It can be enticing to accept a counteroffer from your current employer, especially if it involves increasing your compensation. However, it is vital that you remember the reasons you started looking for a new job. Yes that counteroffer may address a few of your professional concerns at the present moment, but there may be unexpected consequences for making the decision. Here are reasons why you should not accept a counteroffer.
Why Not to Accept a Counteroffer When Leaving a Job
Damaged Work Relationships
Although counteroffers are tempting and often seem like an excellent career decision, be careful. Unfortunately, you have already damaged relationships. The level of trust your manager once had for you is gone now. With your interest in moving on, your colleagues no longer know your motives. They might also treat you differently if you accept the counteroffer.
Studies indicate that as much as 50% of employees who accept a counteroffer end up leaving their jobs within 12 months. If you take a counteroffer, be prepared for damaged relationships, low productivity, a negative impact on your collaborative efforts, and possibly being forced out the door.
Money Will Not Solve All Problems
A counteroffer will typically include more money. Unfortunately, many job seekers believe that additional funds will make all of their problems go away. Before you decide to accept a counteroffer from an employer, you must ask yourself if money will make you happier? What about all the other reasons you have for seeking another position? Do not allow a salary increase or any other perks to sway your judgment if these items do not address the main reason you wish to leave your job. Remember that a salary increase will not open growth opportunities, new challenges or better company culture. Money will only serve as a short-term fix for a long-term problem.
You Might Realize Your True Worth and be Disappointed
Your employer may not value your worth to the company. Be wary of any manager who suddenly praises your work performance and is willing to meet your demands to stay when they discover you wish to leave. Did you suddenly become more valuable? Why did it take the threat of departure for them to present their best offer? Most employers will say anything to avoid the process of finding a replacement. If you know your true worth and your employer fails to compensate you for it, move on.
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