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The Pros & Cons of Getting a Counteroffer

Posted by admin on March 6, 2017

Often in a job, the time will come where you no longer feel fitting to your current position. When this situation arises, you’re likely to spend one or two months searching for a new job role at a new company. If you’re successful in your job search, you’ll need to let your current employer know with a letter of resignation. However, you may then be given a counteroffer.

What is it?

A counteroffer is a proposition that is made as a result of an unattractive offer. It revises the initial offer made, and makes it more desirable. The outcome of a counteroffer permits a person to decline a previous offer and negotiate the new proposal.

Your employer may counteroffer you as you plan on leaving your current job role. They will try to make an irresistible offer in order to convince you to stay where you are, whether this be a pay rise or promotion.

There are both advantages and disadvantages to being presented with a counteroffer, all of which need to be considered in order for you to make the right decision about your future.

Advantages

Same Old- If you’re currently working in a company where you’re fully comfortable and familiar, it gives good reason to think twice about leaving. The unfamiliarity of a new job can be a scary experience, which is why sticking to the norm is one of the most common reasons for accepting a counteroffer.

Appreciation- If your current employer is fully aware that you have seriously thought into leaving, it may offer them the chance to show their appreciation towards you. If you feel your current role is currently lacking this and is giving you the incentive to leave, this could change your mind.

Old Concerns- Just because a new role may address some current concerns you have, it doesn’t mean you won’t have any new concerns. It’s important to weigh up the pros and cons of your current job. If you’re happy there and are leaving for small reasons, a counteroffer could be the perfect incentive to stay.

Disadvantages

No Changes- If you’re currently feeling unhappy in your job position but are swayed to accept a counteroffer, there is a possibility that nothing will change. Though your boss may offer you more money, it’s important to weigh up whether it’s worth the continued depreciation.

Temporary Solutions

Accepting a counteroffer in the hope that any issues will be resolved is extremely optimistic. Often a counteroffer can result in a temporary solution to the old issues you have been feeling, until they arise again at a later date. 

Loyalty

By accepting a counteroffer you may appear disloyal to your current employer and as though you are only interested in your own financial gain. Though this is fine, it may cause them to doubt your loyalty in the future, which can then reflect on any progression decisions they make.

It’s important to remember that it is completely down to you as to whether or not you choose to accept a counteroffer, and you’re decision needn’t be swayed, though it is best to weigh up your options!

If you’re currently looking for a new job role, we can help you. We have a huge range of fantastic jobs available, and you can take a look here. For more information, you can get in touch with a member of the Honor Search team by visiting our contact page or by giving us a call on 01322 305331.