You’ve handed in your resignation and are excited to start your new job. Then you get a counter-offer. What do you do? Here’s how to handle a counter-offer.
You’ve made it through the process of finding a new job –polishing your CV, performing well at the interview, getting a job offer for a fantastic new role and telling your boss that you’re leaving. Once you’ve handed in your resignation, the hard part is over, right? But then your employer comes back with a counter-offer, designed to tempt you to stay. It’s a popular tactic among employers; up to 50% of candidates who resign will receive a counter-offer. So what should you do?
Many would advise you to decline the counter-offer. According to the stats, up to 80% of those who accept counteroffers end up leaving current employer within 6 months, and 9 out of 10 leave within a year. But it’s not always an easy decision to make, and you have to weigh up what’s right for you, long-term –however persuasive the offer might be.
A counter-offer is an offer made in response to another offer. In a recruitment scenario, it’s an employer’s bid to keep a high performing employee from leaving, and it’s usually made once the employee has handed in their notice. A counter-offer is intended to make you reconsider your resignation, and it typically promises a salary increase or promotion.
Employers tend to make counter-offers for the following reasons:
There are several reasons that the best option might be to stick with the job offer for your new role.
Whatever your reasons are for resigning, avoid accepting or rejecting a counter-offer straight away. Here’s some tips for dealing with a counter-offer.