After three interviews you have been offered an exciting new role with a much better salary and benefits package than your current one. Although you have been at the company five years you feel it is time to move on; you go tell your boss and give him your resignation letter. The next day he calls you into his office and tells you that he doesn’t want to lose you and that the company have agreed to match your new salary if you stay. So, what do you do?
After three interviews you have been offered an exciting new role with a much better salary and benefits package than your current one. You have been at the company five years and don’t really want to move on, you just feel that you are worth more. You tell your boss and he offers you the same salary to stay which you immediately accept.
So which one are you? Or have you had experience of both scenarios?
For recruiters both are a nightmare; after many months the project is near to completion and a great candidate is offered a role only for them to turn round and say they are staying put.
But why would you stay? What has happened in Scenario Two? You have told your company that your only loyalty is to your wallet and that you are quite prepared to hold your company to ransom to achieve your aims. You can only do this once though. The next time they may call your bluff and you’d better be good at your job to justify the increased salary.
If you are involved in Scenario One and decide to stay what has happened? You have told your company that you want to leave but only the lure of money has kept you there and they may well view this as disloyal. Also your reasons for leaving (an increased salary, unless you are vastly underpaid, is not a good reason for leaving) are still the same; the only thing that has changed is that you are getting paid more for being unhappy in your role. Think - why were you not worth that salary before you resigned? What do you have to do next time to get a raise?
Experience has shown us that candidates in both scenarios tend to be back in the market looking for a new role within 9-12 months as, in the first scenario, their reasons for wanting to move are still the same and in the second scenario they find that their relationship with their employer has subtly changed.
Counter Offers - download the pdf