Sunday, January 24, 2016

Why You Should NOT Accept a Counteroffer

Levitt & Associates, Inc. shares why you should not take a counteroffer...

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It's tempting to use a new job offer as a bargaining chip to get your current firm to counter and offer you higher pay. 

Don't think about it. 

More often than not, this situation does not have a happy ending. If your goal is to get a raise, it's best to negotiate it prior to starting a job search. 

Consider these points:

  • You are now no longer a part of the inner circle. Instead, you are seen as the one who was looking to leave. 
  • If the firm needs to make cutbacks in the future, you may be at the top of the list.
  • Among recruiters, the rule of thumb is "70 to 80 percent of people who accept counteroffers either leave or are let go within a year."
  • Consider your happiness. Why did you start searching for a job to begin with? Remember the factors that drove you to look: personality fit, you don't care for your boss, you're bored with the work, you are not recognized for your efforts, insane deadlines, etc. Chances are the situation will still be the same going forward. 
  • Know the reality of the situation.  If you needed to have one foot out the door to receive the salary increase you wanted, what's going to happen in the future? 
  • Should you want to work for the other firm someday, they will remember that you went all the way through the hiring process only to accept a counteroffer and most likely not be interested.