Turning in your resignation after accepting a new job can be exciting. After weeks or even months of hard work, research, interviews, and negotiation, you have your ideal job and a start date in hand. But what if your boss throws you a curveball and presents you with a counteroffer? Suddenly, your excitement turns to confusion and you aren’t sure what to do.
Is Taking a Counteroffer in Your Best Interest?
Types of Counteroffers
There are two common types of counter offers you will likely receive. The first is a financial offer where your boss presents you with a raise, hoping to exceed your new pay rate. The second type of counteroffer is an emotional counteroffer that plays off guilt and loyalty. Your boss may not present you with a written offer, but rather a verbal offer of more responsibility, a raise down the line, or some other intangible benefit. That verbal offer will likely come with a lot of talk about your value to the organization, or they may tell you that they really need you onboard work on a critical initiative.
How To Weigh a Counteroffer
Counteroffers can make you think twice because first, they are flattering. Second, change is difficult and staying in place is easy. If your employer makes big promises or waves a big raise in your direction, it can seem like a no-brainer to stay put. However, counteroffers are not all they are cracked up to be. Always consider the following when weighing a counter:
- Why a raise now? Why wasn’t your boss willing to up your pay for a job well done months ago? Why raise you now? Because it’s cheaper to raise your salary than to conduct a job search for a replacement.
- Leaving can reflect poorly on your boss. Turnover is often an indication of a problem and your boss’s sudden interest in your career may be more self-serving than generous.
- Is it just a stall tactic? Data suggests that 80% of all employees who accept a counteroffer are gone after one year. Many managers use counteroffers as a way to buy time to replace employees.
- Everyone will feel differently in the morning. Your boss and your coworkers will remember that you attempted to resign. It will strain relationships and erode trust.
- Why were you leaving? If a counteroffer seems appealing, take a step back and remember the reasons why you started looking for a job in the first place. Will the counteroffer really change things?
- Your career is about you. You are the only one with your best interests in mind. Not your boss, your company or your coworkers.
Are You Looking For A New IT or Engineering Job?
If you are an engineer or IT professional seeking new opportunities to grow your career, the engineering recruiting experts at Selectek can help. We can match you with opportunities that align with your skills and goals.