Tempted by the counter-offer? Think again...
BY ADRIAN TANYou finally decide to take up that new job offer and leave your current one. Handing in your resignation to your boss, you felt relieved. The hardest part is over and the excitement of starting a new job is creeping in.
But your boss messes up the works by making what appears to be an attractive counteroffer. Even the VP whom you hardly seen asks you to reconsider. You’re flattered, but confused. It’s tempting to stay with what you know. Should you stay or should you go?
Here’s some food for thought:
- After resigning, you have made your employer aware that you were looking and unhappy. Your loyalty will now be in question.
- When promotion/raise time comes around, your employer will remember who is loyal and who is not.
- When making difficult decisions about cut-backs, the company may begin with those that are deemed less loyal.
- Accepting a Counter-Offer is an insult to your intelligence and a blow to your personal pride, to simply be bought at the last minute.
- Where was the extra money for a counter-offer at during your last performance review? Most companies have strict wage/salary guidelines and may be simply giving your next raise early or buying time to hire someone in your place.
- The same circumstances that now cause you to consider making a change almost always reoccur within the next 6-12 months.
- Statistics show that if you accept a counter-offer, the probability of voluntarily leaving in 6 months or being let go within 1 year are extremely high.
- Once the word gets out, the relationship you now enjoy with co-workers will never be the same. You lose personal satisfaction of the peer group acceptance.
- What type of company do you want to work for if you have to threaten to resign before they give you what you are worth?
- Accepting counter-offers after already accepting another position burns bridges with other companies, your recruiter, and ultimately shows all 3 parties that you can be bought.
Adrian Tan, Managing Director, RecruitPlus Consulting Pte Ltd
The views expressed in this column are the author's own and do not necessarily reflect this publication's view, and this article is not edited by Singapore Business Review. The author was not remunerated for this article.
Find out how the drastic changes in the industry and the “democratisation of information” have helped Saxo Bank succeed.
One of EASB’s full-time lecturer, Willard Tan, shares his incredible educational journey with EASB and how he gives back to his alma mater.
.jpg "Simon Tan")
