There is no easy answer to this question. But first things first, what is a counter offer?
A counter offer happens when your current employer offers you a higher salary, more company benefits or even a role promotion after you have tendered your resignation.
Some studies, such as the Society for Human Resource Management (SHRM), predict that every time a business replaces a salaried employee, it costs 6 to 9 months’ salary on average (this includes recruitment and training costs). To offer a salary increase cost less than recruiting a new employee.
Take your time before making any decisions and consider the following:
o What made you go through the application and interview process in the first place? Maybe you were unhappy with the salary, or the working hours or even the culture in the office whatever your reason, will the counter offer resolve it?
It is very likely that most employees have more than one reason to consider working somewhere else.
It is worth asking yourself the question, why it has come to you tendering your resignation for your company to offer you a pay rise, better working conditions or the promise of a promotion ?
If you were truly valued then why are you only being offered these improvements now?
o Seeing their colleague getting a pay rise may put in question other’s view of their own salary and create an atmosphere of unease in the office. Carefully consider what would happen if you accepted the counter offer. By accepting a counter offer, managers and work peers may see you as less dependable and a team player.
o Moving on from your current position can be stressful, you’ll be moving into a culture where you are unproven, you may not know anyone there and you will have to adjust your work/travelling/WFH routine. Getting comfortable in a new job, learning new ways of working and getting to your new colleagues can be hard work.
That said, without stepping into the unknown and pushing yourself out of your comfort zone, you’ll never know what other opportunities could be out there and know your true professional worth.
If you still have doubts, speak to us about your concerns, here at Intersect Global we value quality and nurture our relationship with both our clients and candidates.