How to handle counteroffers when quitting your job
Deciding to leave a job is a difficult decision. And when you decide to move forward with your departure, finding a new job can be quite taxing and time-consuming, especially when you’re still working your current job. After late nights of polishing your resume and prepping for interviews, you finally land a new job. But just when you think you’ve found the exit, your boss extends a counteroffer.
What is a counteroffer?
In its simplest form, a counteroffer is an offer responding to another offer. Counteroffers typically include promises of pay bumps or a promotion, and they’re intended to make you change your mind about quitting. When employees put in their notice, employers will often give counteroffers to rival the one you received from another employer.
About 50% of candidates who resign will receive a counteroffer. So what should you do if you get hit with one?
How to handle a counteroffer
Talk to your manager
It can be a tough conversation, but speaking with your boss can help reveal their true intentions behind their offer. Recruiting is expensive, and when everyone is time-poor, who wants to spend time reviewing countless resumes and conducting interviews if they don’t have to? Give yourself some time to review their offer so you can make an informed and confident decision.
Remember why you’re leaving
Depending on the conditions, a counteroffer can make staying seem really enticing. A salary bump is great and all, but is it worth it in the long run? Revisit the reasons you decided to leave in the first place. If the issue is the work culture or a strained relationship with your boss, you need to ask yourself if these issues can be remedied. Of course, it’s flattering when your boss strikes a counteroffer to keep you on the team, but do they truly value your contributions?
Trust your gut
What is your gut or intuition telling you? If you get that sinking feeling in your stomach at the thought of staying at your job, that’s your body telling you it’s time to leave. Though you should be methodical and critical when approaching counteroffers, you should also trust your instincts. Ultimately no counteroffer is worth it if it means sacrificing your happiness and well-being.
Consult your IT recruiter
If you’re working with a recruiter, tell them about the counteroffer immediately. Sometimes you need an objective opinion and a fresh set of eyes to look at your situation. Your recruiter has been through this situation many times with other candidates, and you won’t be the last. After getting their professional opinion, your recruiter might open your eyes to different perspectives you had yet to consider.
Consider the consequences of staying
Let’s imagine you’ve accepted the counteroffer and are staying on board. By accepting this offer, how might your work life be affected? You may be seen as less dependable or wishy-washy because you were willing to leave. Getting a pay raise might stir up some envy from your colleagues and even spark them to renegotiate their employment terms.
Assess both offers
Before making any rash decisions take some time to compare the two offers. Create a pros and cons list to evaluate the strengths and weaknesses of each offer. It’s important you look beyond the salary and benefits. Consider how you can develop your career. Do you feel there’s still room to grow at your current company? How does each company align with your values and beliefs?
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