When it comes to interviewing, having an offer on the table and deciding to leave your company – it’s fair to say that it is one of the most stressful, thought provoking, and sometimes difficult experiences of our lives. A new job means leaving friends, coworkers and trusted mentors for a leap into the unknown, a decision that is a calculated risk and doesn’t always turn out favourable (even if we learn from the poor experience). With all of these thoughts running through your mind it is hard to know how to respond when your current company presents you with a tempting counter offer.
If you were to believe any recruiter you have spoken over the course of your career, they would describe a counter offer as the definition of a career trojan horse which can open you up to a potentially dangerous, career damaging decision. They will have some astronomical percentage calculation of people who have still left their businesses shortly after accepting a counter offer, a range of horror stories from their personal experiences, along with a strong level guilt tripping while questioning your commitment to your “new company”.
I can 100% tell you that accepting a counter offer is not the end of the world.
I have always been against generalisations, that massive brush people use to paint all of us with common rules or expectations. People are complicated, people are unique and people have a wide range of motivations and emotions.
What is most important when considering any counter offer is understanding the reasons you wanted to leave in the first place. It’s about analysing your own self, your motivations, along side of your feelings toward your boss, your company and your career. It’s also about analysing the motivations of your current company and those of the company you will be joining. Understanding what they stand to gain / lose, their reasoning, and having open conversations about the situation and how you feel within it.
The external company, which offered you the initial offer, does start in a stronger position. They have built you a package backed from a motivation of desire or “want”. They interviewed you, evaluated, and selected you based on your ability. You almost certainly were compared against other candidates, bench-marked against internal talent, and would have had exposure across their business. Upon success they offered you something you also wanted (money, title, responsibility, location etc) creating the feelings of being valued, supported, and listened to.
Your current company has to play catch up and is typically unprepared. Their motivation to counter offer primarily comes from the fact that they “need” you and that they are not prepared to lose your skill set within the organisation. Most likely, what they offer you is something you might have asked for before and you will question why it took the fact that you are leaving to drive them to action.
While all of us would rather be “wanted” than “needed”, it’s worth mentioning that not everyone receives a counter offer. The fact your current business recognises that they can’t be without you and is willing to make changes that address your concerns, says a lot about that business. While it might be too late, it makes a lot of sense to listen to what they have to say. Their reasoning, constraints and excuses as to why the business couldn’t address your concerns previously deserves to be heard out. These are relationships you have developed over your career and only you are in the best position to understand if you can believe and trust in your current companies promises.
So what can you do?
Hear them out! – Let your boss explain exactly why the counter offer is on the table and understand what stood in their way before. Bosses typically have to fight internally against HR and procedure to build a counter offer. If it is a new role they are offering you, also understand that organisations can’t just ‘create’ a brand new role with additional responsibilities out of thin air. So understanding where the role has come from and the obstacles in being able to provide this role to you before you accept it is essential.
The key to deciding to accept a counter offer is to look at how your company has acted previously. Reflect on how your current business has treated leavers in the past. Have they counter-offered before and how did it turn out? Are those people still with the business? – Then seek them out. The culture of the business can be a deciding factor.
Additionally, discuss with a trusted mentor. No one is impartial in this decision making process. Recruiters want a commission, the company you applied for wants a new employee, and your current company wants you to stay. While you should listen to everyone, take what they have to say with a pinch of salt as each has their own agenda. Having an outsiders perspective from someone you care about and respect can bring a fresh outlook to an ever evolving conversation.
Never accept a counter offer purely for money. Yes we live in a capitalist society, and whether we like it or not, money provides security for ourselves and our families. However, if you are seeking a pay rise using an external offer to do so can create internal conflict. Money motivated candidates never leave a good impression.
Lastly, don’t fail to understand the consequences of your decision. Accepting a counter offer can also spurn the company who presented you the first offer and I have seen it affect a candidate’s ability to be evaluated again in the future. No one likes to be someone’s second pick. If you do decide to leave again in 6 months don’t expect to be welcomed back with open arms.
A counter offer is not the end of the world and it certainly shouldn’t be viewed as a negative. I have had previous candidates of mine accept counter offers and they moved on to continue to have fantastic careers within those same businesses (I don’t hold it against them!). What is most important is that the decision you make is one that you feel comfortable with, in an environment which allows you to excel and with people you can trust.
Would you accept a counter offer?
