Let’s imagine you’ve completed the typical to-do list when changing jobs:
✅ Started the job search
✅ Updated your CV
✅ Saved the roles most suitable to you
✅ Sent a stellar application
✅ Interviewed really well
✅ Received a job offer
✅ Sent a resignation letter to current employer
Congratulations, you've taken the brave steps to advance your career in a new role and have been successful. You’re delighted but the situation quickly gets complicated by the fact that your existing company has counter-offered you.
What is a counter-offer?
When resigning from your current, your employer may make a counteroffer in the form of a wage raise or promotion or even an ‘emotional’ counter-offer
Up to half of workers who leave receive a counteroffer from their employers. This is mainly due to the shrinking talent pool and increasing salary expectations and the cost and time to replace.
We’ve compiled some tips to help you negotiate a counteroffer.
Think about how the offer made you feel.
Did you get a buzz that you have a chance to stay with your current company? Or did the offer make you feel conflicted? What does your gut and intuition tell you?
It's vital to think about these questions before responding. Be strategic when assessing the counter-offer vs. the new job offer — if staying doesn't seem right, listen.
Ask about the terms.
Discuss the offer with your manager and find out why they want to keep you.
Are you being counter-offered because you're appreciated or to avoid costs to replace you?
Ask for a few days to think things over before deciding. Take some time to consider their offer so that you’re confident in your final decision.
Compare the offers.
Make a pros and cons list. Assess the strengths of the counter-offer, and compare it with the offer from your new employer.
Pay and perks aren't everything. Which firm will boost your career? Which provides more advancement? Which company matches your values?
Consider why you started looking for a new job before accepting a counteroffer.
Question the motives.
Review why your current company offered the things that could have kept you from seeking elsewhere in the first place.
Maybe it was an oversight on your employers' part, but you've gone through multiple phases to get this position. Will the counteroffer be enough to keep you long-term?
Revisit your reasons for leaving.
Why did you want to leave your job in the first place?
Most counteroffers feature a wage raise, but money isn't the main reason people quit. People search for a better work-life balance, more experience or responsibility, or a more dynamic atmosphere.
Ask yourself questions.
(and answer them honestly.)
● What are my employers' motivations for wanting me to stay?
● Why did I start looking for a new job in the first place?
● Why is my boss proposing this counter-offer?
● How will accepting this counter-offer affect my long-term goals?
● Comparing the current and new job, which one offers real potential for growth?
● Which makes the best use of your skills?
● Which will develop your career in the direction you’d like to take it?
● How do you feel about the values of each business?
● Which offers the best financial reward?
Speak to your recruiter.
Recruiters offer career advise. Tell your recruiter about the counter-offer immediately. Share your views and feelings.
Recruiters have done this many times and can offer advice. DNA will also offer advice to all candidates whether we are representing you or not.
Tips for declining the counter-offer.
If you leave your current job for a new one, don't burn bridges.
Say you appreciate the offer but need to move on. Stay professional and send a thank-you email. Leave doors open and end on a positive note.
We are DNA.
We are a dedicated team of consultants, helping you identify, attract and secure the job you want to thrive.