The National Employment Association confirms the fact that over 80% of those people who elected to accept a counter offer and stayed at their current employer, are no longer with their company six months later. This is why I strongly recommend never taking a counter offer! Let’s take a look at the following scenario:
You have been working with ABC Company for 5 years. You realize now that you have gone as far as you can with this company. Your boss does not appreciate you, you haven’t received a salary increase in two years, and any prospect for a promotion is years in the future – when someone eventually retires. So, doing what any intelligent person would do in this situation, you look for a new job. Fortunately for you, you find one that is perfect for you, not to mention the higher salary.
You turn in your resignation to your boss, and she seems surprised. Later that evening as you are getting ready to go home your manager pulls you into to her office and her boss is there. They tell you that you are too valuable to the company that they don’t want to see you go. Your boss says that there have been plans in the work regarding a promotion for you, but the plans were confidential, so she could confide in you yet. They offer you a promotion and even supersede the offer from the other company.
Here are the questions you should ask yourself in this situation:
- Why now, why after five years and one foot out the door is your company willing to show you how much they value you? My suspicion is this . . . It costs less for the company to give you a raise than it does for them to invest in a replacement for you – or they are stalling to find your replacement.
- Is the money a promotion the only you were looking at other companies? In any case, how long will this new salary keep you satisfied? Furthermore, how many years are you going to go without seeing another raise or promotion at your current company?
- How are things going to change for you now that the company knows you have been looking for another job? If there were any prospects for you to get any additional raises or promotions, do you really think your chances are any higher after you essentially have one foot out the door?
Take my advice and accept the position at the new company. If you don’t you could miss out on the best opportunity of your career. If you are not happy with your current position now, no amount of money is going to make you happy in the future. Money does not make you happy. Don’t believe me, just look at all the people who have won millions in the lottery and are completely miserable. What will make you happy is working at a company that appreciates you and will help you grow a career. Don’t sell yourself short by accepting a counter offer. Companies, let this be a lesson to you as well. If you have a great employee that you don’t want to lose, don’t wait until it is too late to show them their value.