While 30% claimed they accepted the offer and ended up staying.
Around 61% of employees in Singapore have rejected a counter offer from their bosses to make them stay in the firm, a recent survey from recruiting firm Hays said.
Such counter offers comprise an increase in salary, additional company benefits, a sought-after promotion or new job title, additional responsibility, a change in role or more involvement in projects in the hope the employee can be convinced to stay.
The survey revealed that 30% said they accepted a counter offer and ended up staying with their employer for longer than 12 months, whilst 9% said they ended up leaving the organisation less than 12 months after receiving the offer.
The firm noted that the sentiments of the employees highlights that added incentives rarely counter the reasons that led someone to look for, apply, interview and then accept a new job that they have been offered.
“People reject counter offers because in most cases it’s too late. Whether it’s because they want to take the next step in their career or they want to broaden their professional horizons, chances are they made their mind up when they applied for that other job. It could also be that they wish to change industries or simply because they are currently unhappy in their present role," Hays managing director for Singapore Lynne Roeder said.
It’s not just in Singapore where workers are inclined to reject a counter offer. A similar study conducted by Hays across Asia found that 45% in China, 56% in Hong Kong, 61% in Japan and 63% in Malaysia said thanks but no thanks to the counter offer they received.
“Before considering presenting a counter offer, employers should be wary that once an employee has announced their intention to leave, their long-term loyalty can come into question," Roeder added.
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