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Tag: career transition


Are Counteroffers a Good Idea?

Are Counteroffers a Good Idea?

In the short-term, they could be – long-term, probably not.

You have a new job offer with a new employer, and you decide to tell your current employer you have another offer on the table. They could either wish you the best of luck or offer you a counteroffer. If they give you a counteroffer, should you take it? It’s probably not in your best interest in the long run, should you decide to stay.

The majority of employees who accept the counter, will end up leaving their current employer within months. You were looking for a new opportunity, why not stay the course? Additionally, this could change your current organization’s view of you as an employee and you may not receive any additional monies that year and beyond. Especially, if you feel your career path has dissipated and there is no more room for growth within the company.

You should also be aware of how this might look to your new prospective employer. If they feel you are contemplating the counteroffer, they could decide to pull your offer, hire a candidate who wants to work there, and who will accept their offer.

Of course, the final stage of the offer doesn’t go without some negotiations; however, your decision to entertain a counteroffer should be weighed heavily before you enter into any discussions.

The Offer

You’ve reached the final stage in the recruitment process, the offer – After the application and multiple interviews, you landed the job!

Generally, the incentive for candidates to move organizations or positions would allow candidates to seek opportunities that will provide a promotion, ability to be a key contributor within the organization, and an increase in pay structure.

When seeking a new opportunity, the motivation to make a change for a new role should be discussed initially, setting the expectations from the onset. Once an offer is extended and accepted, you have agreed to the terms and negotiation ends. Strive to find a balance to determine if a counteroffer is necessary or if it is about its monetary value or the position. Most often, it is the position job seekers are trying to attain.

Organizations have set wage bands for positions based on market and internal value, from minimum, mid-point, to maximum of the salary range. Various other factors could help offset any wage bands misalignments when pursuing a job offer, including sign-on bonuses, targeted variable (bonus) pay, allowances, paid time off, supplemental retirement plans, and additional benefits.

These are all part of the equation when evaluating your next opportunity!