It’s finally happened; you’ve been made an offer for the job you’ve been waiting for. All the interviews, or “family emergencies” have paid off and the offer is in your hand waiting for your decision. Of course you accept, why wouldn’t you? Your current employer provided a challenging or rewarding environment and this new role offers great progression opportunities, a challenging and rewarding career path all in a great environment. Then the dreaded task of writing the resignation letter. What do you write? How do you say, “thanks for the memories but I’m after more”? You throw something formal together, thanking the company for the opportunities (yet, if this was the case, would you be leaving?) and head into the bosses office with the formidable folded piece of paper.
Change is unfamiliar, scary and risky, better the devil you know? On the other hand, you are ready for change; don’t they say familiarity breeds contempt?
Then something unexpected happens. Your current company suddenly expresses an appreciation for your work, promises more money and opportunities for advancement. What to do?
On one hand, your current position is familiar, you know the company and the expectations and now you’ve been offered money and promises of more opportunity. Change is unfamiliar, scary and risky, better the devil you know? On the other hand, this new offer is a great step up in your career, offers an exciting new challenge. The company has recognised your achievements, offered you opportunity, career growth and by now you’ve already accepted the offer. You are ready for change; don’t they say familiarity breeds contempt?
Companies make counter offers for many reasons, be it reputational (client relying on a particular individual), internal morale, company knowledge and cost considerations. It is significantly cheaper and easier for a company to spend money on increasing salary and benefits than the expense of employing and integrating a new hire.
Accepting a counter offer can be a bad idea. Why? Two main reasons;
The fact is, no amount of money can replace career satisfaction, a challenging and rewarding environment, career growth opportunities, or respect
It’s all about you. The reasons you started to look for a new job cannot be replaced by more money. Whilst they say “money doesn’t buy happiness” you think, well it sure makes being miserable a bit more comfortable. The fact is, no amount of money can replace career satisfaction, a challenging and rewarding environment, career growth opportunities, or respect. If you were to accept the counter offer, very quickly you’ll forget about the money and you’ll remember all those reasons you wanted to leave in the first place. Now, not only is that perfect job filled, but may have also tarnished your own reputation by withdrawing on an offer that you had accepted.
The key to making your decision on whether to stay or go is to take out the emotion involved. Be clear about what you want, and what you want for your career now and in the future
Secondly, because it is all about you. You may accept your employers counter offer. Flattered by the praise, promises and raise, but how long will it last? When will the honeymoon be over? Your employer now believes they have dodged a bullet, managed to convince you to stay. But how long will this feeling last? Despite the façade, your employer may feel betrayed by your resignation and may soon realise that you are now being paid more to potentially do less, and they still don’t know if you are there to stay. Your employer would be remiss not to put into place at least contingency plans should you decide to resign again. The bottom line is that if you stay your commitment is likely to be suspected.
Our advice, be clear about your reasons for leaving and be clear about what you want in your next role prior to resigning from a role. Be prepared for a counter offer and make sure it is all about you when you make your decision. The key to making your decision on whether to stay or go is to take out the emotion involved. Be clear about what you want, be realistic about what your current employer can and can’t change and what you want for your career now and in the future.
If you need some career advice call deliberatepractice on 1300 deliberate (1300 335 423).