Last week we saw a statistic which may be staggering to some, but not to us. The statistic, from the Wall Street Journal, said that of the 50% of professionals who accepted an employer's counter-offer, 93% left the company within 18 months, only 7% stayed with the company. In our experience accepting a counter offer rarely works.
What is an employer's counter-offer?
An employer's counter-offer is an offer tabled by your current employer to rival the one you've received from an alternative future employer in order to convince you to stay. These counter-offers can take many forms: a straight salary increase, additional company benefits, a promotion or new job title, additional responsibility, change in role, more involvement in projects that interest you or any combination of these.
Reasons to keep you
Employer's counter-offers can be confusing. Leaving a job, especially if you've been there for some time, is difficult. Being put under pressure to stay, and having your reasons for leaving challenged or undermined, does not make easy listening. As enticing as counter-offers may appear to be, it is important to keep a clear head, take a step back and consider the options available. Reasons why an employer might want you to stay include:-
Should I stay or should I go?
There is rarely a good reason to accept a employer's counter-offer and stay where you are. You wanted to move, you've been through the recruitment process, been successful and have scored a job that meets your criteria. Think about these factors:-
Rocky ride ahead
Do not let an unexpected employer's counter-offer stop you in your tracks. Loyalty is a two-way street and your ultimate loyalty is to yourself and your family. There is a reason why you started to apply for alternative jobs and you should never lose sight of this. Take it in your stride, thank your employer for the opportunity and reaffirm your intention to leave. Stand your ground.