Category: News, The Accountancy and Finance Blog

The Counter Offer

Posted: 14th October 2021

In this candidate driven market handing in your resignation might not be as straight forward as you think. You may experience the counter offer! Recruitment Specialist Emma Shahnavaz offers some advice to help you make the decision- to stay or go…

You’ve just secured a new role, you’ve managed to get through the lengthy recruitment process, have met with several new colleagues, and your contract is in the post. Now for the tricky part. The part most people dread; handing in your notice. You schedule in time with your line manager with your prepared speech, and are met with “we’ll beat everything you’ve been offered!”… Well, what now? 

In an incredibly candidate-driven market, it is now more prevalent than ever to be counter-offered upon handing in your resignation as your employer worries about how they will replace you. But where does that leave you? Do you stay with your current employer, or do you make the jump? Whilst it may be tempting to stay within your role, the role you know inside out with the company you are comfortable with, it’s not always the best option. If you find yourself in this situation, hopefully the following points may help you in making your decision.

Will this benefit you in the long run?

Accepting a counter offer can seem appealing. Especially, if you are offered at a higher salary than your current one. However, several studies have shown that between 70-80% of those who accept a counter offer will still leave within 1-2 years. Why is this? Simply, the only thing that will have changed will be your salary. You are likely to still hold the same level of job dissatisfaction that led to your job search(only now with a little more money!)

Were you truly valued?

Why should it take you leaving your current employer for them to suddenly “notice your worth”, that promotion you’ve been looking for, that wage rise you’ve been deserving of? These are issues that should have been addressed prior to you leaving – now that your employer faces the long drawn process of trying to replace your role, they have suddenly realised your worth.

The chances are, those who accept a counter offer may find themselves back on the job market 12 months later, looking for the same opportunity that crossed their path before. Only this time it may prove more difficult to find a similar offer. So how do you turn down a counter-offer without burning your bridges?… 

Remaining professional and polite will always be the answer. It’s best to keep things short and simple, explaining you are committed to your new role, but will ensure to do all you can so that your handover runs as smoothly as possible. After all, you may end up working together at some point, so it’s always good to try to leave on amicable terms.

Have you found yourself recently exploring other opportunities? If so, our dedicated team of Recruitment Specialists would be happy to help guide you through the process. Get in touch for a confidential chat on how we can help you make a move that best suits your career goals