October 25, 2023

One of my candidates got a crazy counter offer last week. He had accepted my client’s offer and made the decision to move on. But when he turned in his resignation, his boss offered him a massive jump in his salary; twice as much of an increase as my client had offered.

There is a huge cost in hiring and training new staff, so if you’re good at what you do, when you turn in your resignation you may be offered more money to stay.

About 80% of people who accept counter offers wind up leaving just a few months later. So most people will advise you to never accept a counter-offer; it’s one of the most destructive things you can do for your career.

But what about the 20% who stay? Is it ever a good idea to accept a counter offer?

I think there are some exceptions to the general rule of “don’t accept a counter-offer.”

Take a close look at the reasons you want to leave besides money. Sometimes it’s discovering the company’s values don’t line up with your own. Sometimes it’s no work-life balance, too much travel. Sometimes it’s lack of opportunity for growth. Sometimes it’s an uncertain future with the company. Sometimes there’s one toxic person on the team who makes life miserable for everyone else.

If your employer is somehow able to address your underlying concerns, then I think it’s worth considering the counter-offer. Maybe.

But if all they’re doing is throwing more money at you, run away.

What do you think? Is accepting a counter-offer ever a good idea? Please comment below.

#Hiring #Talent #Jobseekers

Posted on LinkedIn:  https://www.linkedin.com/feed/update/urn:li:activity:7122899374342344704/

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