In this fast paced digital media world, everyone is constantly looking to further their career and luckily there is almost always a better job around the corner. If and when you get to that place of switching jobs, one thing in particular needs to be addressed: the looming counteroffer. I have seen countless lists and reasons why one should not accept a counteroffer, but I believe it can be broken down into three key aspects: 1) Credibility, 2) Original Intentions, 3) Investing/Burning Bridges.
- Credibility: Whatever you had, gone. You could be the best man/woman in the office, but as soon as your manager or boss discovers you’re looking elsewhere (which they will once you tell them you have an offer) you are no longer a confidante, you are now a flight risk. Imagine if you’re dating exclusively and you went out with someone new, chances are the original person would leave you at the curb. Your loyalty will always be in question, not only with your boss but with your co-workers as well – remember those gossip sessions by the Keurig while checking your social media feeds? Good, because that’s the way it will remain: a memory.
- Original Intentions: Money is great, and I think everyone can agree with that, and more of it is usually better (don’t quote me on that). In terms of counter offers, more money is the common solution – but chances are money wasn’t the only thing you were seeking: e.g. more responsibilities, a better working environment (you wanted that fully stocked fridge and snack bar with a microbrew beer on tap), or even disliking your boss and co-workers. None of those will change – I know, it’s shocking that the company won’t make drastic changes even for its own betterment (hence a reason you wanted to leave). While your original search was set into motion for numerous reasons, you will be settling for one short term solution – an easy fix. Additionally, statistics show that if you accept a counteroffer, the probability of voluntarily leaving in six months or being let go within one year hovers around 80%.
- Investing/Burning Bridges: I am confident when I say, that you and your potential employer have devoted countless hours through the grueling gauntlet of the interview process to get to the point of a formal offer. Think of it like a stock or an emerging company; the probability of investing $50,000 into a digital media startup on a whim are slim to none – you need to perform adequate research and due diligence, at which point you will front capital. Of course you want to see a return on that, don’t you? Thought so. Your time is valuable and chances are you have already invested a hefty amount of it. Now how do you think this “digital media startup” would feel if you pulled out your 50K just as you picked up the pen to sign the paperwork? Chances are they would never do business with you again and word would likely get out. Same goes for this new company and anyone else the hiring manager is associated with. By accepting a counteroffer you may risk burning a bridge with the next Google.
While this isn’t an exact science this should give you some good perspective… Would love to hear your thoughts and chat about them – Hope this helps and please use to your advantage!