Congratulations! You’ve successfully navigated your way through a complex interview and assessment process, and they've offered you the job.
You’ve worked with your recruitment partner to negotiate your terms, you’re happy with the outcome and now it’s time to start thinking about your resignation.
You’ve arranged a meeting with your manager and you explain you’ve decided to leave the company.
But then a counter-offer appears.
They explain the pay rise was long overdue, and now a promotion and more responsibility are on the table. How will you react and what will you do?
The rise of the counter-offer
At Morgan Philips Group, we’ve seen many versions of the counter-offer over the years. But more recently, we’ve seen their level become increasingly aggressive. Why?
A counter-offer may seem flattering, but you have to remember it's often the most cost-effective solution for your employer. Searching for and training a new candidate is costly and takes time. This is especially true in an aggressive market where talent is scarce.
So what’s your next move?
Here are 3 points to consider with your counter-offer.
1. Why did you want to leave in the first place?
Was it about more than just money? Perhaps it's to do with the relationships with your colleagues or boss. Can you expect them to change their leadership style to accommodate you?
Or maybe your broader concerns lie with your career development - are these likely to change overnight if you stay on board?
2. Would the improved package be available if you hadn’t resigned?
The fact it took your resignation to action this pay rise should always give you food for thought. You should wonder why the company couldn't act sooner to reward or recognise your talents.
Your decision to leave wasn't just about the money, so you might want to give thought to how much you value the cash incentive alone.
3. Has your loyalty been compromised?
Will the relationship with your colleagues and boss remain intact if you stay?
Your conduct won't be considered unprofessional, but there's every chance your colleagues and boss will look at you in a different light from that point on.
An illuminating statistic states that more than half of employees who accept the counter-offer still change organisations within six months.
It may be better to stick with your convictions and move onto new pastures.