Insight Blog
Best Way to Handle a Counter Offer Is Not To Accept It
There are many reasons why employers make counter offers. Among the more common reasons are: (1) An employee has critical, specialized skills and the loss of those skills will, at least temporarily, adversely impact the company’s bottom line; and (2) It’s less expensive to pay a counter offer than it is to find and train another professional.
Some professionals would ask, “Why didn’t my employer offer me more money before they found out I was seeking other employment?” In reality, a counter offer does not always mean that a company is deliberately undervaluing you as an employee. The market value of any professional can change during their tenure. Sometimes a company keeps up and sometimes it doesn’t. The fact is - there are few companies that try to be at the very top of compensation charts.
It has been found that very rarely does a candidate explore other career opportunities and express their desire to leave their position solely due to money. There are usually other reasons that make them unhappy, such as an unfavorable company culture, lack of opportunity, poor management, a long commute, and a host of other reasons unique to that professional. The key issue to consider is why you want to leave your current role and what you ideally want in your next role.
You should also keep in mind that statistics show, if you do accept a counter offer, the probability of you voluntarily leaving or being let go within one year is extremely high. The relationship simply changes, and often in a negative way. The short answer on how best to handle a counter offer?
It is best to listen politely, but decline. Accepting one is usually counter-productive for your career. If you explore an opportunity with another firm and receive an offer that you believe is beneficial to you, your family and your career, either accept it and don't look back, or decline it without your present employer ever becoming aware that you pursued it. Should you decide to move on, you always want to leave in a polite and professional manner.