Well done! You overcame the difficult process of interviews, waiting periods, potential rejections, and many emotions. Many people find it daunting to look for a new career. This can be caused by apprehension about change, fresh starts, taking chances, and leaving comfortable situations. However, taking a deep breath and making a significant leap of faith can lead you to a new location that is better suited and advantageous for you.
Leaving can become even more challenging when your decision is met with a counteroffer from your current employer. Your decision may be questioned, and your subconscious may make you doubt your loyalty—or lack thereof—leaving you feeling guilty for prioritising your own interests and the advancement of your profession.
“We'll advise you in this blog on how to respond to a counteroffer from your present company.“
We'll advise you in this blog on how to respond to a counteroffer from your present company.
What is a counteroffer?
In recruitment situations, a counteroffer is often made in reaction to an offer that the employee has received from their potential employer. It is an effort on the employer's part to keep the worker and persuade them to revoke their resignation. Once the employee has turned in their notice, this typically happens. A counteroffer typically includes attractive benefits like a pay increase or promotion because its goal is to persuade the worker to reconsider quitting.
Employers now place a greater emphasis on employee retention than ever before, which is why they might make a counteroffer. Building and maintaining a successful firm depends on attracting and keeping employees, as happy workers contribute to positive workplace culture.
The possible risks of settling
It's crucial to be fully aware of the real reasons why the employer is pleading with you to accept the counteroffer. A recruiting consultant may run a business up to three thousand pounds on average when hiring a new employee. Employers are well aware of the costs associated with bringing on a replacement; the money needed to employ and train a replacement may be very expensive. They could save money by persuading you to stay.
The genuine reasons your employer may be pleading with you to rethink must be carefully considered, as in most situations, accepting the job offer for your new career and rejecting the counteroffer may be in your best interest in the long run.
Keep in mind that if your primary reasons for leaving are a toxic work environment, a poor company culture, or a sense of undervaluation, it is probably best to find another job because it is unlikely that a higher salary or a position with more responsibility will cause you to feel differently.
Managing a counteroffer
Take your time to carefully weigh the benefits and drawbacks of staying in your current position before deciding whether to accept or reject your counteroffer. However, it's equally crucial to let your potential employer know when you plan to make a decision.
Trust your instincts! More than anybody else, you are aware of the qualities that you value most. What stood out to you as the most crucial factor after evaluating everything? What did you consider to be important? Is settling going to help you get there? After weighing all the benefits and drawbacks, go with your gut if you are still unsure about which offer to accept. What feels appropriate to you?
As soon as you make a choice, inform your present employer right away. This demonstrates your respect for them and gives you the chance to express gratitude for the counteroffer and all the assistance and opportunities you received while working for them. Then you can tell them directly that you're turning down the offer.
Then, you can inform your prospective company of your acceptance as soon as possible!