Pitfalls of Counteroffers
If you’ve made your employer aware of a new opportunity and they’ve countered by offering a raise, deciding to accept the counteroffer and stay put may NOT be in your long-term best interest. Here are things to consider when weighing a counteroffer from your employer.
1. Since most companies have salary guidelines, it’s quite possible you may have received your next raise if you stay put. Embrace change and take advantage of what’s in front of you.
2. When the time comes to decide who would be considered for promotion, your employer may remember who almost went to work elsewhere. Many times, some companies reward unwavering loyalty more than anything else. It has been said, one finds limits by pushing them.
3. If the economy slows down for an extended stretch, chances are you may be atop the list for personnel cutbacks. There is a strong likelihood your boss might start looking for a cheap replacement! Be careful about overestimating your value to any organization. Whether you’re right or wrong in your assessment of worth, it ultimately won’t make staying worth the risk.
4. Consider if anything in your existing situation is really going to change if you accept the counteroffer. It’s most often not only compensation that causes someone to start looking for a better position. Chances are it was a combination of many things. Statistics have shown as much as 75% of those who accept counteroffers will end up leaving the company for another position, quitting or being replaced within the next six months.
5. Don’t forget that your value has been established at the new company. They’re excited to have your services and have expressly stated their strong interest by making you a job offer. Stick with your plan. Steve Jobs was quoted as saying, “your time is precious, so don’t waste it living someone else’s life.” Quick fixes are just that. Every end has a new beginning.
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