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You Should Consider These Before Agreeing to Counteroffers

 

Does your employer hold you up from leaving the company? Chances are, they will give you a counteroffer to make you reconsider your current job for a period of time. 

Counteroffer refers to a response given to an initial offer, because the original offer was rejected. For example, Alexa decides to leave her current employer because she gets a better offer in X company. Alexa then writes a resignation letter to her current manager and is ready to leave next month. However, the manager believes that Alexa’s potential is a gold mine to the business, thus the manager offers a higher salary, better bonus and pension plan (first offer). Alexa still does not want to take the offer. Hence, the manager decides to make a counteroffer by offering a scholarship benefit and leadership program which puts Alexa on the onus to accept, reject, or counter that offer and continue negotiations. 

See also: 3 Things to Consider Before Accepting a Job Offer

While a counteroffer is usually attractive and tempting to take, there are some considerations one must think before agreeing to such an offer. It does not mean you should reject the offer, but these considerations will help you decide which one is worth the risk. 

  • When a company need to pay what you are worth for after receiving a resignation letter, what does it say about the company? Think about it. 

  • Where is the money for the counteroffer coming from? Does it come from the salary raise because your resignation is approximate with it? All companies follow some strict wage and salary guidelines, thus it is unlikely that they will offer fat paycheck to someone who is likely being unloyal to their company. 

  • Can your employer make your salary increase retroactive in order to compensate for underpaying you? 

  • The sale problems that caused you to look for a new job in the first place will probably repeat themselves in the future. As much as some things change, others stay the same. 

  • Your company might immediately start looking for a new person at a cheaper price. In some cases, you could be training your replacement and the employer might fire you at some point. Are you ready for this? 

  • You have now basically made your employer aware that you are unhappy in your position. From this day on, they might question your loyalty. 

  • When promotion time comes, where will you be on your employer’s list? 

  • When times get rough, your employer might begin the cutbacks with you. 

  • Statistics showed that if you accept a counteroffer, the probability of voluntarily leaving in six months, or being let go within a year, is extremely high. 85 percent of people who accept a counteroffer are gone in six months, and 90 percent are gone in 12 months. 

  • Accepting a counteroffer can give you the feeling that you are bought. 

  • Once your co-workers know that you get a counteroffer, the relationship that you now enjoy with them might not be the same. 

Next read: When to Turn Down a Counter Offer? (A Few Things to Consider) 

Next read: What Do Employers Look For in a Candidate’s Social Media?