Counter Offers

 

What are they?

A counter offer sometimes happens when you tell your current company that you are leaving for a better opportunity. Your current employer panics and immediately offers you a raise and/or increased responsibility if you stay with the company.

Reasons companies extend a counter offer:
 

           >      Department morale suffers when people leave.
           >      Employee resignations do not look good on a manager's record.
           >      It is cheaper to give you a raise than it would be to recruit a new employee.
           >      They can give you a raise and have you stay while they search for your replacement.
           >      The projects you are working on will suffer delays because of your departure.
           >      Companies want to have a low turnover rate.
           >      Companies do not want sensitive or confidential information going to a competitor.
           >      Companies do not want skilled professionals going to competitors.
 

Top reasons why you should NOT accept one:
 

           >      You had to threaten to leave in order to receive the rewards and career path you have earned.
           >      80% of all employees who accept a counteroffer are no longer with the employer after 1 year.
           >      The same circumstances that now cause you to consider a change will repeat themselves in the future.
           >      You will be signing up again to spend 8 hours plus a day at a company that you were trying to leave.
           >      Aside from money, your original reasons for leaving your job will still be present after accepting a counter offer.
           >      You will not be considered a loyal employee from here on out; therefore, you will not be included in the inner circle.
           >      When promotion time comes around, managers remember who has tried to leave the company already.
           >      If the company hits rough waters, you will be the first to be let go.
           >      Often, when you accept a counter offer, your manager will already be looking for your replacement.
           >      Statistically, 4 out of 5 employees who accept a company's counter offer will leave that company within 6 to 9 months         months.