pros of counteroffers

Counteroffers have some benefits, especially for employees who prefer their current jobs but want to leave because the pay isn’t competitive.

receive higher pay

Counteroffers usually result in higher pay. According to a global survey, 71% of employees say higher pay is the top reason for quitting their current job. So, an employer can resolve that issue by offering better pay than the new job offer.

boost your benefits

Sometimes, benefits can be more valuable than a salary. For example, paid time off and bonuses can make one job more enjoyable than the next.

Your current position might be more comfortable if your employer offers to adjust your benefits.

feel valued

Nearly a third of employees say their bosses never recognised their achievements.

Interestingly, 80% of employees say feeling appreciated motivates them to work harder.

When your boss makes you a counteroffer, it can help you feel valued within the company and understand how irreplaceable you are. This can help you be more productive and satisfied in your current role.

cons of counteroffers

Despite counteroffers' positives, they aren’t usually the best course of action. Here are a few reasons you should reconsider accepting a counteroffer.

employer trust is impacted

While your employer might appear to welcome you back with open arms, there will be lingering doubt.

For example, they might think you might do it again since you threatened to leave once. This may lead to them starting to look for your replacement.

It could even impact your career advancement opportunities since employers won’t want to promote someone they feel might leave soon.

money doesn’t solve underlying issues

Before accepting a counteroffer, consider why you were leaving in the first place.

For example, a toxic workplace is one of the leading reasons employees leave their jobs. A higher salary won’t make the workplace less toxic or solve non-salary-related issues.

Other factors that commonly influence an employee’s choice to resign include:

Poor leadership
Workplace conflict
Lack of progression
Feeling undervalued or disrespected
Poor work schedule

If your reason for seeking other employment is listed above, you will most likely want to leave again at some point, even after accepting a counteroffer.

rejecting an offer can impact future job opportunities

Counteroffers usually happen after you receive a new job offer. Therefore, you must reject the new employer's offer before accepting the counteroffer.

Employers invest many resources into recruitment. So, when candidates go through the employment process only to reject the offer, this may leave your potential new employer with a negative impression.

This might mean that over time, a job seeker may gain a negative reputation among recruiters and hiring managers, which could impact your future attempts at switching jobs.

your employer isn’t recognising your value

A good employer wouldn’t wait until an employee is leaving to compensate them for their valuable work.

When an employer waits until you resign to raise your salary, the employer is telling you that the business had the resources for their higher salary and recognised your true value through your great work, but effectively chose not to raise your pay.

While some employers have a good reason for not raising your pay sooner, this situation may show that your employer may not proactively recognise the value of their employees.

category

tags