Somewhere along the line, you became unhappy with your current employer and decided to find a new job. But when you tell your boss you’re leaving, he or she offers you more money to stay. Do you accept? In almost all cases, the answer is no — here’s why:
You will likely leave in 6 months anyway
According to multiple studies, 80 percent of people who accept counteroffers leave the company within six months. While your boss may offer you more money to stay, a raise won’t change the other reasons you wanted to leave in the first place. The money will satisfy you for the time being, but it may not be worth the other headaches you will continue to endure. Plus, most employers make a counteroffer to buy time, keeping you around until they find a suitable replacement.
Your loyalty will always be in question
When your boss discovers you have been looking for another job, your loyalty to the company will be in question from there on out. Counteroffers are often a knee-jerk reaction made in a state of panic. Your boss’s immediate reaction is, “how will we ever get by without this person!?” Once the initial shock of your near-resignation wears off, they will begin to question your dedication to the organization.
Counteroffers won’t change the reasons you wanted to leave in the first place
Money is rarely the only reason people seek a new job. Whatever initiated your job search won’t change with more money. Think about the other factors that drove you away from your current employer: culture fit, dislike of your boss, difficult coworkers, unfulfilling work — will these things magically change with a counteroffer? If money was your only reason to find a new gig, think about what it took to get your raise. You basically had to threaten to leave. Will you need to have the leverage of a new job every time you want a raise?
You will burn bridges
When you accept a job at a new employer, only to rescind your acceptance after receiving a counteroffer, you are leaving the new employer in a tight spot. They thought they had their new employee locked down. Imagine their frustration when you tell them you can no longer accept the position. Don’t expect to be considered for a job at the new employer anytime soon — you’ve already burned that bridge. And if you work in a tight-knit industry, you could gain a bad reputation with other employers, further lowering your chances of finding another job in the future.
The pitfalls of accepting a counteroffer are clear. In some cases, taking a counteroffer can make sense. But most of the time, it will hurt you more than it will help. So, before you decide to stay at your current employer, take these pitfalls into consideration.
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