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Counteroffers: To accept, or not to accept, that is the question.
So you’ve decided to take a new job, but your current boss has supplied you with a counteroffer...
This is a common scenario for those who have been offered a new job. Before accepting or denying the counteroffer, consider these factors;
- Remember why you were looking for a new role.
- Why were you open to a new job in the first place? Was it a financial concern? Or perhaps you wanted a change of pace, a new work culture or a new challenge. Before accepting a counter offer, remember to think about your initial motivations. Typically, a candidate will consider leaving their place of work for a better job opportunity or career progression and not a higher salary or benefits. If your current employer offers you an increase in pay or benefits - assess whether or not these will change your current work experience.
- Consider the work environment.
- How will your work environment be if you decide to stay with your current employer? Although your manager wanted to keep you on, you must contemplate how comfortable you will be staying with a company who knew you were looking to leave. The offer may also come with more responsibility or longer hours. Make sure you consider any complexities that may arise if you stay with your current employer.
- Are you delaying the inevitable?
- Accepting the counteroffer at a firm you considered leaving might be the first indication that you are no longer happy with your work life. According to Cyber Coders, 80% of employees that accept a counter offer leave their job after a year.* A counteroffer usually implies that you are a critical member of the company, so it may be in their best interests for you to stay, but not yours.
Only you can decide whether or not to accept or reject a counteroffer, however, closely examining the above factors will help you make an informed and rational decision.
*CyberCoders. “Counter Offers.” CyberCoders. Accessed Apr 20, 2016. https://www.cybercoders.com/home/counteroffer/.