Should you accept a counteroffer?

Employing new staff can be a timely and expensive process, which is why almost 50% of employees make a counteroffer.

An employee salaried at £85,000 could cost a company £181,0000 to replace due to recruitment and training expenses.

Working in recruitment, we hear a lot about the reasonings behind someone wanting to change jobs, and often it’s not solely due to the wage. This makes us question, why would someone accept a counteroffer?

We understand how daunting it can be moving on from a workplace you’ve been comfortable at for years. But remember, progress is made outside of this comfort zone.

Your current company may choose to counteroffer to buy time, or to save them money, if they know you’ll likely leave at a later date. Whilst it may seem like a good idea staying at your current employer, it can infact damage the relationship.

Are you accepting the counteroffer to please your current company and not your own happiness?

Our human nature is to please others, but our own happiness should always be priority. If you’re unhappy in your role, it can quickly lead to burn-out, which may become a downward spiral.

Neon sign on a brick wall which says 'This is the sign you've been looking for'

When being counter-offered, remember:

Why did you want to leave in the first place?
Would the money solve all the problems?
What did you like about the new companies you’ve had interviews with?
Are there certain perks in the new opportunities that you don’t currently have?

Decide on your work dealbreakers, whether it’s culture, salary, flexibility options, etc. These will help you along your career journey and prevent confusion and stress when looking for new roles.

Some of the top reasons why people leave their current role:

Poor management
Lack of progression
Toxic workplace
Low salary

Two-thirds of HR directors are willing to negotiate salaries for new employees, so it may be that the counteroffer, can be counteroffered. In which case, you would’ve boosted your salary even more!

If you accept the counteroffer, only your pay packet will change. It’s likely the company culture and running of the business will remain the same with little unchanged.

This is why over 80% of employees who accept counteroffers leave within 6 months.

Interested in hearing about the current job market? Get in touch today!

Read our previous blog here: https://www.engagewithus.com/ava-lovelace-day-bristol-tech-fest/

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