What To Do When Handed A Counter Offer?
In case you didn’t know already, a counter offer or counter proposal is a raise or promotion offered by your current employer upon your decision to leave. Counter offers act as a sort of retention policy. If your employer believes that you are valuable to the business, then a counter-offer is quite common. But at the same time the new job prospects that you are looking at may also be lucrative.
This presents a deep dilemma that most professionals are unable to handle. So, here are a few points to consider when your employer offers you a counter proposal.
Does it solve the problem?
If you decided to leave your current workplace then it is due to certain acute reasons. It may be about the remuneration, work environment, unsatisfactory role, no recognition, etc. The question you need to ask yourself is whether accepting this counter offer will solve this problem. If the problem is with low salary structure then it would be a good idea to take the counter offer, but if not then the offer will rarely solve the problem.
Why the late recognition?
If your company wanted to give you a raise or promote you, why did they choose your point of resignation to give it to you? “You don’t know what you’ve got until it’s gone” is a very important saying, but at the same time it reflects on the professionalism of the company. There is quite a bit of difference between a counter offer and true recognition, but they can also be one and the same. There is no general answer to this, but this is something that you need to self-reflect and understand.
Know your market
Do you believe that you are capable of more than what your employer offers you? Or are you a professional in a limited market? You need to analyze the opportunities you have outside of your current workplace before you decide to take or leave a counter-offer. When your company is trying to retain you that means you have the professional capability to serve, and you need to know whether you will be better off in applying your skills somewhere else.
It’s not really about a pay-raise
Yes, a pay raise is indeed important, especially if you are a professional from the millennial generation. But at the same time playing the long game can take you places. Make sure that the counter offer is not the only pay raise you have been handed since the beginning of your employment. Because if it is then chances are that you will not be seeing another one anytime soon.
A counter offer is not always something bad. Even companies make mistakes for they are only comprising of people. But at the same time how you understand the business persona and how you fit into it is absolutely important. When you come across a counter offer, reflect on these four points and you will know what is best for you.