Your current employer may make a counter offer; this is an offer to match or better the one you have received. The goal is to make you change your mind and stay. This could come in the form of an increase in salary, new/better benefits, different responsibilities or a bigger job title.
A counter offer is extremely flattering. It appears that the company values you. Your current employer may try and to hone in on your doubts, it is difficult to leave a job you know and people that you have built up a bond with.
Your current employer may ask your reasons for leaving, new salary/package, responsibilities and working arrangements. This is so that they can put together their proposal. You are not obliged to give any details regarding your new employer or package.
Senior board directors may try to persuade you to stay and tell you what an asset you are to the company. It is far easier and cheaper for the company to retain you than face some of the reasons below:
- Difficult to find someone to replace you who will be as productive or effective
- Lack of time to go through the recruitment process/cover until they find a replacement
- Possibility of incurring recruitment fees
- Training a new member of staff
- Losing staff disrupts the department and reflects badly on the management
There is very rarely a good reason to accept a counter offer.
If throughout the process your reasons for moving have been thought through and re-affirmed at resignation then wavering is unwise as many of the fundamental problems will remain unchanged?
Here are some reasons for not accepting a counter offer:
- Your loyalty to your current employer has been tested
- If a pay increase is offered is the money purely this year's salary review paid early? Why were you underpaid/valued prior to your new offer?
- The Management may resent an increase in salary and you may therefore not get a positive pay rise at the next review.
- Any underlying problems will not have gone away.
- Should the company ever need to trim back, your name will most likely be at the top of the list.
Counter offers do happen however statistics prove that those who accept them are deferring previous problems and end up leaving within a year anyway. Sometimes it can be right to stay but these occasions are rare.