Should you accept a counter offer?

So you’ve decided to move on from your current position, succeeded at interview stage and you’ve been offered a great opportunity at a new company. Congratulations! You hand in your letter of resignation, excited for your move, and then your boss responds to your notice with a better offer persuading you to stay at your current organisation.

What do you do?

Remember – you are in the strongest position in this situation.

Over 60% of UK based employees who accept a counter offer end up leaving the organisation in question within six months anyway. Deciding whether to accept a counter offer, or not, is therefore a difficult and important decision.

Things to consider when receiving a counter offer:

1)   Why did you want to change jobs in the first place?

It is important to remember why you wanted to change jobs in the first place; a big decision would not have been made on a whim so revisiting the prominent reasons for leaving is a good start. It is likely that you would have identified and tried to work on the reasons for leaving i.e. if your work is boring you would have asked for more challenging tasks or if you want more money you would have discussed a raise. Whatever the reasons were you have probably tried to resolve these prior to looking for a new position.

2)   Is the counter offer addressing the reason(s) for the move?

Considering point 1, is the counter offer proposed addressing the issues that you have in your current position? For example, if the only reason for the move was for more money and the counter offer provides a pay rise, this may sway you to stay in your current job. Something to consider here is why had they not offered you a pay rise during your employment rather than just with the threat of your resignation? If the counter offer provides a pay rise but does not address the lack of progression in the position that encouraged your move, then it’s unlikely the counter offer will fulfil your needs and you risk missing out on a good opportunity elsewhere.

3)   Implications on your future in that business

Something that should also be considered is the chance of a change of attitude towards you if you accept the counter offer, with your company knowing that you had been looking elsewhere and thus shows a lack of loyalty to the organisation. This could, unfortunately, have negative implications on potential promotions in the business as the trust has now been broken.

So, if you are made a counter offer by your current employer, remember to consider these three things before making the important decision on which route to take.