Congratulations on landing a great job!
But now that you have given your resignation to your employer, they are fighting to retain you by offering a better salary package.
So, should you leave or should you stay?
It isn’t surprising that around 50% of employers place counter-offers when their employees resign. These offers are even more typical in candidate-driven markets such as IT and construction, where skills shortages make finding and hiring new employees challenging.
However, 80% of workers who accept a counter-offer leave their jobs within six months while 90% in a year, substantiating that money is not always adequate to overcome the issues that compelled you to look for a new employment opportunity in the first place.
Reasons Why You Shouldn’t Accept a counter-offer from your old company
Many employees who resign get counter-offers from their old company. Often, accepting counter-offers lead to more negative outcomes than positive ones. There are a few reasons not to take one.
Underlying Issues Remain Unresolved
There may be several reasons why you decided to leave your job. For example, it could be apparent things like coworkers or work hours.
Now, a higher salary might entice you at first. And let’s face it, more people wouldn’t think twice about taking the higher offer.
Three, four months down the line, this can be a problem when you are unsatisfied again if it wasn’t the salary issue.
If there’re various reasons you want to switch jobs and get a counter-offer from your old company with an increased salary package, a viable option is to refuse the offer. You’ll experience personal satisfaction and long-term happiness at some other job more suitable for you than your current role.
No Opportunities For Career Progression
When you get a counter-offer, it’s easy to agree to it without giving it too much thought due to an enticing proposition.
A substantial factor when considering counter-offers is if there’s a chance for career progression and development. If you’re searching for an excellent job, the potential for career advancements should be a critical deciding factor.
As jobs take adequate energy and time, it’s best to invest your energy into things that’ll have a good payoff later.
Also, it’s good to consider the highest job position (promotion) and if that would make you happy too.
It doesn’t matter how great your relationship with your employer is. If you’re getting a counter-offer in answer to your resignation, your reliability and commitment might be questioned later.
Even if your job has room for professional growth and promotions, you’ll probably not be the only employee they choose during the promotion time.
Also, it’ll hinder future success and growth at the job. Therefore, even if you find the counter-offer a good deal, it may make sense to progress more at another company.
Deciding to accept or refuse a counter-offer can be daunting. It is pivotal to consider each of the points discussed above to ensure you make a practical decision.