You’ve done it. You’ve tailored your CV, you’ve aced the interview, and you’re speaking with your current employer about resigning from the role. You’re already picturing yourself in the new role. Suddenly, your current employer puts a counteroffer on the table. They’ve decided you’re too valuable to let go and they’ve offered you an incentive to stay.
This can be stressful and overwhelming, however, there are 5 steps you can take to ensure you make a considered decision. Follow these, and the answer will be clear!
- Take time to think about the offer with a clear head
Whenever a difficult decision is to be made, the best thing you can do is sleep on it. Ask your current employer for some time to think about the offer. Making snap decisions in the moment may lead to regret and it may make it harder for you to backtrack later on.
- Weigh up the pros and cons
Next, look at the advantages and disadvantages of both your new position and the counteroffer you’ve been given. Your new position may offer a better workplace environment, or new and challenging work, while your employer’s counteroffer may provide you with a higher salary or additional bonuses.
In the end, your values and priorities will become clear to you, and you’ll understand which move to make.
- Why did you resign in the first place?
Why are you leaving or thinking of leaving your current job? A recent study shows of employees given counteroffers, only 29 per cent stayed with the company for at least another 12 months. This may be because of those who took the counteroffer, only those 29 per cent correctly evaluated their further position in the company.
Will this counter offer resolve the primary issue you’re having in your current position? Does it solve the majority of the issues you were having which made you look for another position? Can the offer you have been given help you to deal with the issues you were having in the first place? If you accept this offer will you be able to progress within the company to get to a position comparable to your job offer?
Thinking carefully and analysing the counter-offer itself can help to increase your satisfaction with your decision, and help you avoid accepting a counter-offer purely because you would feel more comfortable staying in a position you know.
- Understand the consequences
Your current employer may have given you an acceptable counter-offer, and you may have weighed the pros and cons, but don’t forget this final step. Think about the consequences both sides present. If you choose to stay, you may be in a better position financially, but your boss will remember you tried to leave. This may cause friction for a little bit. However, they’ll now be aware of your grievances and they can work to fix it.
If you choose to leave, you may be happier and more fulfilled. However, if you aren’t, turning back will be difficult if not impossible.
- Be confident and trust yourself
The final step in handling a counteroffer is to decide what’s right for you, and do it! If you’ve carefully analysed both offers and positions, you can confidently decide on the best path for your future. You’ll know deep down the right choice, so make it and roll with it!