Ever heard of a counteroffer? Ever received one or heard of someone who has?
At nuclei we have seen them too many times and are quite often surprised if our candidates don’t receive them. In our experience, counteroffers don’t work for the candidate, and they don’t work for their current employers either. Why?
Why have I considered a new option in the first place?
That’s probably the most important question you should ask yourself at all stages in the job application process, whether you’re at the very first step and are sending your CV out, if you are in the interviewing process or if you have your new offer and now, the counteroffer.
There are a number of reasons why you would want to change your job / get a new one. Whatever the reason is (I want more money, I deserve a promotion, I can’t learn anymore from my current managers, I can’t stand someone, etc.), there is probably an option to ask for a change with your current employer. So before you get into the whole interview game, speak to your current manager! Maybe they are already planning a promotion for you; maybe they are able to give you pay rise after you reach certain goals, maybe they can move you to a different project or another department?
After you exhaust all of your options and find that you are still unhappy or that nothing has changed, that’s the time for your new job hunt. This way you know you’ve given your current place a chance, that you’ve done everything you could and it really is the time to move on!
Should I take the counteroffer?
So you have decided to go through the whole interview process, landed a new job and have taken your decision to leave your current employer. And now, you have a counteroffer. And trust me, I’ve seen some amazing counteroffer’s, such as shares in companies, promotions to MD, new positions being created, new locations, countries… Why didn’t my candidates take them?
1. There was a reason why I wanted the change in the first place
And that reason is still there! Again, ask yourself why you started this painful process in the first place. And you’ve tried changing it and it didn’t work or you’re still unhappy. Is the counteroffer really going to change that?
2. A good employer should pay you what you are worth (of course, if you think you are worth more than you really are, that’s a different story), they should offer the promotion you deserve.
All smart employers know that it’s more effective for the business to keep happy, trained and dedicated employees rather than recruiting and training up new ones. So they’re willing to invest more to keep you on board However, the question you might want to ask yourself is how much you think your employer values you (and maybe follow that question up with why did it come to a counteroffer to show you this).
3. The money for a counteroffer usually comes out of your next pay rise.
If you did accept the counteroffer, ask yourself what you would need to do to get your next pay rise or promotion?
4. Your boss knows you have done it once and almost went to work for others.
They question your loyalty. If you ever try to take a day off again, have a doctor’s visit, their suspicions will be raised. Would this be a nice environment to work in? Also consider what will happen if they need to make any cuts in the future, or when your boss needs to decide who should be next in line for a promotion or get a chance to work on an exciting project?
5. Sometimes a counteroffer just gives your employer has more time to find a replacement.
Do you realise how long it takes in digital marketing to find a good replacement? Normally between 3-6 months for mid-senior roles. It’ll be cheaper to keep you than risk losing a client if they don’t deliver.
6. Is burning the bridge with your prospective new employer really worth it?
It’s a really small market and people within this industry are connected. And they talk. You might be surprised to find out that one small decision on taking up a counteroffer could close more than one door in your future.
7. Statistics show that at least 75% of those ones who accepted a counteroffer would quit within 3-6 months.
From our experience in the Australian digital marketing that number is closer to 3 months. Surprised? Read reason number 1.
So, as said earlier, we’d be surprised if you didn’t get a counteroffer. So prepare mentally to receive one. And guess what? If your employer is good at this game, the counteroffer will be huge and one not to decline. Take some time off, talk to your partner / parents / friends. They will remind you why you wanted the change in the first place. Write it down, prepare a list, do a pros and cons analysis. And be prepared.
Counteroffers may get emotional. So prepare as much as you would for an interview. Once the emotions are gone, it’ll seem natural and easy.
And please feel free to talk to the nuclei team if you need more help.
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