Whatever your reasons are for resigning, avoid accepting or rejecting a counter-offer straight away. Here’s some tips for dealing with a counter-offer.
- Speak to your manager and check out the terms of the offer. Go directly to your manager, and find out why they want to keep you. Is it because you are valued or is it just to avoid turnover costs? You don’t need to decide right there and then – ask for a day or two to think it over. Take some time to consider their proposal so that you can be confident you’re making the right decision, whichever way you go.
- Compare the offer with your new job offer. Assess the strength of the counter-offer, and compare it with the offer from your prospective employer. Look at more than just the salary and benefits. Consider which company will help you to develop your career in the long term. Where can you develop most? Which offers more opportunities for progression? Also consider which company best aligns with your values; company culture and vision is an important factor as it can affect how engaged, motivated and happy you are at work.
- Speak to your Recruitment Consultant If you’re using a Recruiter, let them know about the counter-offer as soon as possible. They’ll have been through this process plenty of times before with other candidates and can give you their professional opinion on what else you need to consider. It’s in their interest to help you make the right decision, as their client will be looking for candidates who want to stay long term and progress within their company, not to leave after a few months and go back to their old employer.
- Revisit your reasons for leaving. Most counter-offers involve a pay rise, but money isn’t usually the number one reason someone leaves their job. Many people look for employment elsewhere to have better work-life balance, to gain more experience and responsibility, or to be in a more dynamic work environment. Ask yourself why you looked for a new job in the first place and assess whether the counter-offer will give you everything you need.
- Listen to your inner voice. You’re probably familiar with the advice to ‘go with your gut’ or ‘trust your intuition’. This applies when finding a new job, too. Although you should be methodical when assessing the pros and cons of the counter-offer versus the new job offer you’ve accepted, if there’s a nagging feeling that staying isn’t the right thing to do, listen to it. Whether it was down to the lack of inspirational leadership, opportunities that are few and far between, or subtle office politics, your inner voice was telling you to leave and look for another job, so if you ignore it, it could cost you in the future.
- Make your Decision Whether it’s best to stay or to go depends on your unique situation -from your career goals to your financial needs. Ultimately, you are the one who knows what’s best for yourself and your career. Once you’ve decided what to do, let your current employer, and your Recruiter or new employer know as soon as possible.
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