Firstly, it might be a good idea to consider what is actually meant by a counter-offer…
A counter-offer is given in response to an offer. It implies rejection of the original offer and puts the ball back in the court of the original offerer.
If you have made the decision to leave your current role and have now received a job offer from another company, receiving a counter-offer from your existing employer can feel a bit like you have been thrown a curveball!
Why are counter-offers made?
It is becoming increasingly commonplace, in the competitive world of Microsoft Dynamics 365, for employers to give counter-offers to employees when they decide to move on, because they are keen to retain their best people.
- Employers don’t want to have to go through the hassle and cost of recruiting someone else to do your job and training a new employee is costly in terms of the loss of the immediate skill set and the time it takes to train someone new.
- They might consider that a counter-offer in terms of salary, benefits, or job title would be more cost-effective for them in the short term.
What should you do if you receive a counter-offer?
The reaction of most employees on receiving a counter-offer from their existing employer is to be flattered – your employer obviously values your experience and skills and has made it obvious that they would feel your loss keenly. However, when you consider their potential motives for making this counter-offer, you may not feel this way for long.
- You should take some time to consider the reasons why you were looking for a new job in the first place. Has this counter-offer addressed any concerns you have about your current role or prospects within the company?
- You should also consider how long the increased salary, change of job title or amended role will satisfy you. Is it possible that the reasons you wanted to leave the company will resurface down the line? It is a known fact that more people who accept a counter-offer still decide to move on after a short period of time than decide to stay.
- You should think about how your employer will potentially view you if you accept their counter-offer. Will they now consider you to be at risk of being tempted away again?
- Of course you do not have to take the counter-offer. However, if you decide that you do still want to leave your job, you should take care not to ‘burn your bridges’ and decline the offer respectfully – you never know who you will meet again and it’s best to keep your reputation and connections intact.
If you find yourself in the fortunate position of being able to choose between staying in your existing role or taking a new job, you should take time to consider your options – assess your work-related priorities and decide which company will best help you to achieve your goals.
Perhaps ask yourself, “Which job offer would be the highest and best employment opportunity for me to accept right now?”
Your intuition may well provide you with the most well-informed answer to this question, and will usually lead to the clearest solution.