If you are planning to leave your current company but are hoping for a counter-offer to keep you on board, think twice. About 80% of employees who accept a counteroffer are not in the same position within one year. Here’s why:
Your trust & loyalty are in question. Once you’ve shown your employer that you are unhappy and planning to leave, you’ve burned the bridge. Despite providing a counteroffer, 80% of senior executives lose trust in those employees and 71% question their loyalty. Consequently, your company may immediately start looking for your replacement.
You just got your next pay raise. The money for your counteroffer is usually your next raise early. Regardless of your performance, if a discretionary bonus plan is in place, you may have already received part of your annual bonus within the counteroffer you previously accepted.
You will be overlooked for a promotion. When it comes to promotions, your employer will certainly remember who almost went to work elsewhere.
Things don’t change. According to SHRM, 45% of hiring managers view counteroffers as a short-term solution. The same circumstances that caused you to consider a change in the first place, probably still exist and won’t change.
What type of company do you work for anyway? If you have to threaten to quit before your employer will give you what you’re worth, it’s not the type of company where you want to stay.
Many people are offered counteroffers when they hand in their resignation. Often, accepting a counteroffer will result in more negative outcomes than positive. It would be best if you did not accept a counteroffer when it is more than the salary you are unhappy with, when the job does not have room for promotions, and when the career does not fit your long-term goals.