Moving from one job to the next can be a daunting prospect, however, making the right decision now can pay off in the long run. What if you already have an offer in hand and get a counter offer from your current employer? Is it worth considering? Here we take a look at the pros and cons of accepting a counter offer.

Introduction

In simple terms, a counter offer is an offer by an employer to try and dissuade an employee from leaving their job. This offer is usually an improved salary, benefits and/or job promotion. It is up to you to decide if you would like to accept the counter offer or remain true to the original offer you had in hand.

There can be various reasons why an employer would choose to make a counter offer to an employee.

• It is usually seen as the less risky option for the employer in comparison to forging a relationship with an entirely new employee.
• Additionally, if the employee leaving has proven themselves to be loyal and trusted, the counter offer could give the employer a chance to retain their services. And let’s face it, it’s expensive for an employer to replace you, so even if they have to pay you a few extra grand, it will save them much more in hiring costs.

 Pros of Accepting a Counter Offer

IT can be tempting to accept a counter offer.

• Increased salary. This is usually the primary motivation with counter offers as it can be very tempting to accept a higher wage. In some cases, the new employer may even be willing to match the counter offer and then some, to secure the employee.
• Improved benefits. As well as higher wages, the counter offer may also include improved employment benefits such as additional holiday days or flexi-time.
• Opportunity to stay with a familiar employer. Better the devil you know. Its comfortable and who isn’t tempted to stay in their comfort zone?
• All your reasons for wanting to leave how now been addressed. Well for a month or two at least…..

 Cons of Accepting a Counter Offer

Despite these perks, there can also be limitations to taking a counter offer:

• Possible retaliation from current employer. Once an employee accepts a counter offer, there can be repercussions from the current employer. This can include a backlash in terms of a break-down of working relationships and potential grievance escalations.
• What’s really changed? It’s not just money that people leave for.   A new challenge, change of environment, to learn something new, be part of a new vision……Are you going to give that all up for a few extra thousands and a guilt trip?
• Counter offers are rarely a long term solution.  So more than likely you’ll be back job hunting again within the year but the relationship with your potential new employer has soured and so you’re right back to square one.  What a waste of time….
• Risk of damaging professional relationships. A downturn in the working relationship between the employer and employee once the counter offer has been accepted could have a long-term negative influence on their career.

Conclusion

Ultimately, it’s a personal decision whether or not to accept a counter offer. On one hand, the improved salary, benefits and continued employment could all be attractive incentives but the negatives almost always outweigh the positives and as we see time after time, you’ll be back on the market within 12 months, more desperate to move on than ever before.

Accepting a counter offer may also mean turning your back on an opportunity to start something new and may also lead to further levels of dissatisfaction in the job itself if the core problems are not addressed. As always, it is best to weigh up all the pros and cons before deciding – if you’re being offered a counter offer make sure you fully weigh up the options, talk things through with friends and family, and consider all the possibilities of having to start from scratch with a new employer too.

To explore this further, take a look at an earlier blog on this:   The counter offer

References

[1] Should You Take a Counter Offer? Weighing the Pros and Cons

[2] Counter Offer: How to Deal with It, Pros and Cons of Accepting

[3] The Pros and Cons of Accepting a Counter Offer