What is a Counteroffer?
A counteroffer is a device often used by companies to retain valuable employees. Counteroffers usually come in the form of a raise (matching or exceeding the offer you received from the interview). Occasionally a promotion is offered or promised as an added enticement to keep you. Frequently, the person making the counteroffer will appeal to your emotions by belatedly expressing their high regard for your ability and say they are looking for the right spot to help advance your career.
The hard truth is that a counteroffer is a short-term fix for employers about to lose an undervalued employee doing an important job.
Why You Should Never Accept a Counteroffer:
Unless you are using your job search merely to get a salary increase, statistics show that if you accept a counteroffer, it is highly probable that you will leave voluntarily within six months because of unfulfilled promises, or you will be fired within one year. Remember, the short term fix buys employers time to replace you, often with someone at a lower salary.
Because it is generally a mistake to accept a counteroffer, it is imperative you examine your motives before starting your job search. A job search for the wrong reason is costly to employers and recruiters, and greatly diminishes your credibility.
Think About This:
Is the counteroffer a disguise for my next raise, early? WHY DID IT TAKE MY RESIGNATION FOR MY EMPLOYER TO OFFER OR PROMISE ME A PROMOTION? I have made my employer aware of my unhappiness...from this day on will my loyalty be questioned?
Because the cost of replacing an employee far exceeds even a substantial raise, employers generally start immediately looking for your replacement at a lower salary.
Accepting a counteroffer also may damage your credibility with a potential employer. Your decision-making skills will be in question.
How to Say No to a Counteroffer:
Before giving notice, make your decision and stand firm. Let them know up front that nothing will change your mind.
If you want to end a counteroffer conversation politely, say "Thank you, let me sleep on it." Tomorrow say NO!
Tell your current employer you have made a commitment and need to go but you would like to leave on good terms. Never burn a bridge.
Goodbyes are never easy.
Don't succumb to separation anxiety, IT IS A MISTAKE.