You after preparing for so many days, appeared for so many interviews, finally you’ve successfully cracked the interview and have been offered the job. But… what happens when your current boss makes you an even better offer to stay? Employers will always try to hold onto their good resources, so don’t be surprised when you tell the boss you’ll be leaving the company in a few weeks, and he offers you better deal — like a salary hike or a promotion or both — to keep you. This can be tempting, especially if you are not satisfied with your current job, salary or your co-workers. There is one more scenario where employee actually resigns to get counter offer. There are few employees who actually don’t want to leave their current job still they hunt for new job. They look for job offers so that they can make their current boss to offer them with more money.
From your manager’ perspective, your resignation can lead to many problems. Especially if you have been a top performer, your resignation will affect the company image badly. It can cause productivity to drop until they recruit someone to replace you. It can even affect the department in a bad way particularly if you were well liked. And it may cause other employees to start “looking around.” Unless you are really incompetent and difficult to work with, your boss probably won’t want you to go and may go to great lengths to keep you. In order to avoid this situation your boss will always come up with a good counter offer to retain you.
Sometimes counter offer may put you in a dilemma where you have to choose between your offered company that identified your talent and showed interest to hire you and your current company which you have decided to leave. It’s hard to turn down your counter offer, but here’s the caveat: While it’s flattering to be so sought-after, it does not guarantee that it will always end in a ‘happily ever after’ situation you’d hope for. Like every important decision in your career, taking or refusing a counter offer can impact your career as well as personal life in a lot of different ways.
Think Twice Before You Take a Decision
When you receive an exciting job offer – which you are tempted to accept – you must evaluate it carefully to understand if it really solves your problem. Try to figure out what was your reason(s) for looking for a new job in the first place? Was it pay issue? Career growth? Not happy with job profile? Better location? Nicer coworker? Make sure that the new job satisfies your needs.
Then, if you get a counter offer from your boss, go through the same review process. The counter offer situation can be a tricky one to handle and will take some careful consideration. Is it meeting your needs? The main tool most employers use in a counter offer is money. They increase your salary. While that may be nice, a salary increase alone likely does not address all the other issues. Remember, last-minute counter offers will not be a permanent solution. It’s not that suddenly they have realized you importance. It is because they don’t want to deal with the work disruption, avoid hiring cost or embarrassment that your departure will create.
In most cases, it is best to say “no thanks.”
How Should You Turn Down a Counter Offer?
Once you get to know that your boss is thinking to retain you and soon you will receive a counter offer, rehearse your resignation conversation. Be prepared and talk firmly that your boss should realize that you have already made up your mind to leave. It’s never an easy conversation. A great thing to say is, “I would like to thank you for this opportunity and I’ve learned a lot while I was here. I appreciate the growth that I’ve experienced, but I feel that it is my time to move on and I have made the final decision to do so.”
What if You Accept a Counter Offer?
In the real world though, counter offers rarely end happily;
If you tend to be lucky and wise enough to accept the counter offer your life will be great for the foreseeable future. You’re enjoying the exciting new position, the salary hike is helping your current situation, and the recognition your boss and peers are giving you is making you feel rewarded and motivated. You feel like it was just the right decision you made and it couldn’t have been any better!
But that means you have broken your commitment to the prospective employer you worked so hard to impress. The company who offered you the role clearly liked you. They’ve spent the time to meet you and to evaluate your skills. They want you to join their company and they assume you want to join their team as well. If the counter offer is tempting you to stay, think long and hard about the implications for your reputation within the industry you work in and for your long term career.
There is one more category who hunts for a job offer to seek a counter offer. Employees don’t realize that this kind of attitude will make them look disloyal and money hungry to both their current boss and to the company they applied to. If you want more money from your employer, ask for a salary hike and if you are denied, consider searching for a new job, with the aim to accept an offer and leave. Your goal should never be to receive a counter offer. Never apply for jobs to seek out a counter offer, is not the right approach for climbing your career ladder.