Counter offers are a challenge for professionals and recruiters hate them. Just when everything was wrapped up and the search is complete, we have to start all over again. But there are times when it is better for your career to accept a counter offer. Just be careful!
1) Risks of a Counter Offer: There is one valid risk to consider when you are faced with a counter offer: if you accept, the company may keep you around just long enough to find you replacement and then fire / retrench or otherwise force you to leave. Many companies today still operate based on the "loyalty-principle". You must be loyal to the company to be a good employee. Giving your letter or tendering is often seen as a sign of disloyalty. If you feel this isn't a big risk, you might want to consider accepting that offer.
2) Times to Accept a Counter Offer: I feel there are four components to consider about the counter offer: trust, action, respect, and time. Each one is vital to making sure the counter offer is worth the risk:
- Trust: If you are reading this article, it is likely hard for you to judge whether you can still trust the management in your company. Any counter offer deserves just as much trust as you put in the people who make it.
- Action: Past actions say a lot about who people are. A manager who treated you badly isn't likely to suddenly start treating you well after you threaten to leave, but they might try to be nice to you for a few days before going back to their old habits. Promises of actions, improvements, changes often come as part of a counter offer. Is your boss one to who takes action?
- Respect: Respect is equally as important as trust. The people you work with should respect the work that you have done and you would need a reasonable amount of respect for your bosses as well. If your bosses respect you, it may be a good reason to consider a counter offer.
- Time: Finally, it is important to consider how long all of the things promised as part of the counter offer will take. Some companies may promise many things and then have a habit of stalling. Other companies will implement the changes the next day. If you aren't sure, judge the company based on what has happened in the past.
3) Decision Time: After considering these four points and the risks, you can make a decision. Some people evaluate counter offers based on the dollar value of the packages being offered. I feel this puts them at risk of loosing great opportunities to develop their career in other companies and grow with their own company.
Never rush into a major career change. Take your time and make the best choice. Any company that wants you to stay or wants you to move should be willing to give you time to consider. (Just don't take too long).
Image Source: http://ricomoss.wordpress.com/2009/04/27/loyalty-flimsy/
