The Counter Offer
Counter-Offers are becoming more and more regular as the market for top talent gets tighter and tighter. The Counter-offer tends to rely on 2 things: Money and loyalty. A typical scenario will see a candidate hand in his notice after a successful interview only to be brought into the Board room for a chat with his boss.
After explaining the offer was too good to refuse the Boss will naturally ask what the offer was. Armed with this information the boss is able to create a counter offer which often exceeds the offer made to the candidate… The candidate is now left in a very difficult situation.
Why you should think seriously about taking a counter offer
- There was a reason you went for an interview with another company.
- Funny how you are only worth £5K more when you threaten to leave.
- If you accept the counter-offer there will always be “questions” about your long term loyalty.
We have seen too many situations where candidates have taken counter-offers and then regretted the decision in the following weeks when promises aren’t kept and things get back to normal.
3 Tips to avoid being tempted to accept a counter-offer.
- Remember why you started looking for a job in the first place – Will this reason go away just because you get more money?
- Don’t be swayed by “loyalty” – The reason you are looking to move on is because it’s the right decision for you.
- Ensure you resign in a professional manner (in writing) – remind yourself why you are resigning and of the fantastic opportunities available with the new company before handing in your resignation.