Is it really wise to accept a counter offer?

 

Grey_Consulting warns employees of the dangers of accepting a counter offer

You have been in the same job for years and things that used to excite you have become mundane and boring, there is no promotion in sight and you find yourself searching for a new and exciting venture with better pay, a company car and brilliant benefits. You finally get a position that meets your current needs and you resign, only to be met with a counter offer from your current employee – possible promotion, salary increase, excellent perks – it makes sense to stay but should you?

 

Grey_Consulting, South Africa’s leader in accounting, finance, audit and risk assurance recruitment explain what a counter offer is and explores the career and reputational risks of accepting a counter offer.

 

A counter offer is an enticement that employers use to lure their employees into staying at a company after they have indicated their decision to leave. Managing Executive of Grey_Consulting, Carroll-Anne Pollock says, “Counter offers are based around two prevailing aspects - the financial raise and the emotional element”. She explains the differences below:

 

	A financial raise is when the counter offer involves a salary increase, a promotion and/or added benefits.
	The emotional component is when employers use an approach that puts you on a guilt trip, for example your employer might say: “We have done so much for your career”, or “We are a family and it will not be the same without you”.

 

There are numerous negative implications that come with accepting a counter offer. Pollock explains, “Accepting a counter offer is dangerous because it leaves you vulnerable. It also says you can be bought.” She states that accepting a counter offer can give the company one of the two following perceptions:

 

	It gives the impression that you were not really looking for a job, but simply a promotion or salary increase.
	On the other hand, accepting a counter offer may tell your employer that you were looking for a new job before, so the chances that you will look for a new job again are high. Your credibility and loyalty to the company will always be in question and you will be seen as a risk.

 

Accepting a counter offer may also tarnish your reputation with your colleagues, the recruiter and your potential employer. She says, “It may strain your relationship with your peers because you will not be seen as a dependable team player. Furthermore, when it comes time to look for a new job, your previous recruitment consultant may be hesitant to assist you in your search. It is also important to remember that during the interview process, most potential employers ask if you have ever accepted a counter offer - your answer could duly affect the outcome of you getting a job.”

 

The reality is that accepting a counter offer package might look good and seem easier, but it is only short term. In the long run, you will still find yourself looking for new opportunities. When faced with a counter offer, the circumstances that caused you to want to leave will just seem more bearable but, only for a short while. Make no mistake, these situations will reoccur.”

 

Pollock advises that before accepting a counter offer you should ask yourself the following questions:

 

	What were the primary reasons that made you want to leave in the first place?
	Is it the wisest career move? What about future opportunities?
	Will the counter offer satisfy your future career goals?
	Are you willing to risk your reputation to stay at the company?

 

Pollock also recommends that before you embark on the job seeking process, you should speak to your manager about your concerns i.e. salary or better benefits. “Give your employer the opportunity to meet your needs before you seek them elsewhere. Should the company be unable or unwilling to assist then seek new, better opportunities – this will not only eliminate the possibility of counter offers but, will also give you the certainty and security that you are making the right decision.”

 

“Remember, it is natural to feel tentative about changing jobs! Winston Churchill once said ‘There is nothing wrong with change, if it is in the right direction.’ So, if you have clearly decided the direction you would like to go, stick with your decision, embrace change and reap the career rewards” concludes Pollock.

 

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About Grey_Consulting

 

Having successfully sourced, selected and placed thousands of professional Financial and Risk management Candidates over the past 26 years, Grey_Consulting has earned its reputation as a leader in specialist Accounting, Financial and Risk Assurance recruitment. Technological advancements together with the inception of globalisation in the last two decades has seen their Clients' Staffing needs change and evolve and with them, their specialist Talent Solutions. However two things have never faltered; their commitment to offering superior service to both Clients and Candidates alike and their promise to build relationships based on ethical principles, trust, quality and excellence.

Their experience and expertise in Accounting, Financial and Risk Assurance recruitment, across all industry sectors, combined with the ability to attract Top Talent means that Grey_Consulting is able to provide Clients’ with a world class workforce whilst simultaneously placing qualified professionals with world class companies.