5 Truths Behind Counter Offers
When a Counter Offer comes it can be easy for candidates to be dazzled by a hike in salary, and commitment from their current employer. From Benchmark’s experience, this new enthusiasm is short-lived, and the candidate will soon be back on the job market, likely with regrets. Benchmark has unravelled five truths behind Counter Offers to ensure you don’t make the same mistake.
1. If you have previously required a pay rise and not received one, you have to ask where the money is coming from for your Counter Offer. Potentially, this could be your next pay increase and will limit future rises.
2. Remember your original reasons for looking for a new role – if company culture played a part, your pay rise will only temporarily mask this issue. You should also question the company ethics if it takes you handing your notice in for them to realise how much you are worth.
3. From this point onwards, your employer is likely to question your loyalty. After the initial euphoria at you staying, they are unlikely to forget that you came close to jumping ship. Be aware that in months to come, this could affect future promotions and potential for progression.
4. It is not just your employers that will change their behaviour towards you, but colleagues may also see you in a different light and your relationships could supper – ultimately adding to your workplace unhappiness.
5. Once the dust has settled, statistics show that 80% of people either voluntarily leave within 6 months, or are let go within a year. You could well be the first in the firing line if cutbacks are made as your commitment could be in question.
An excellent advantage of working with a professional recruitment consultancy like Benchmark is that you can be coached through any counter offer and ensure you get the best outcome.