Counter offers: Yes or No
You found that job, and you can hardly contain your excitement! That is, until you receive a counter offer from your current company. Now what? Should you take the counter offer or cut your losses and go?
Going through the NAP process upfront will help you during decision-making time. The reasons for wanting to make that move are hardly ever just money related.
If you are only moving for more money, then maybe it is not the right time to make a move. You could just keep on moving for more money and never choose the right career.
Let’s face it: a counter offer is flattering and often part of the recognition you have been waiting for. Or is it really?
There are various reasons companies make counter offers, and some offers are really aggressive. To replace key staff in an organization can be costly and time consuming.
There are other reasons you need to be aware of companies extending counter offers. Companies often try to buy time to find the right skill by extending a counter offer. Consultants in the recruitment industry will confirm that 80% of staff leave within six months of accepting a counter offer.
Aside from the various reasons for extending counter offers, there is also a psychological impact. For example, you are a valued employee and diligent at your job and your manager or directors trust you, yet you have been going on interviews without your employer’s knowledge. Suddenly, you resign. The trust relationship you worked at is broken in that instance, regardless of what level you are on or how good you are. It is like catching your spouse cheating on you. The relationship will never be the same, even if you get a second chance: a counter offer.
The nature of the relationship changes, whether they tell you that they cannot cope without your skills or give you more responsibility. A company will immediately put procedures into place that will safeguard that particular position.
A counter offer is very often your next raise you were working towards, but it is just given to you earlier. In some cases, the counter offer is to buy time to find a replacement.
You might really like your company but feel you are not being grown and developed. You find a new opportunity and get a counter offer, and suddenly you have the recognition you have been craving. The thing is, the people stay the same and the environment will stay the same; nothing will change. You will still feel under-valued and any feeling of satisfaction will be short-lived. By the time you realize this, the new opportunity is long gone.
NAP will help you understand what you are looking for, specifically in your career and what you can compromise on.
Before embarking on a new career, make sure you know what type of environment you need to be in to be successful and what you are passionate about. You just might be in the right position without realizing it.