We all know that it is costly for any company to recruit and coupled with higher salary demands and training costs, many companies are inclined to do their best to retain their staff. So what do you do if you find another dream job with the potential to grow your career and your current company gives you a counter offer? Will this have an impact on your credibility and future career?
For most employees who might find themselves in this situation, they have probably put some effort into the process of searching for another job and some thought into the bigger picture. Resigning isn’t easy and can be stressful, especially if it is merely related to career growth and a bigger financial package. Madelein Smit, Managing Director of HR Company Solutions, often encounters this with believes that it is a sensitive issue to address. Madelein says, “I like to encourage the candidate to consider why they were looking at another opportunity in the first place, there is often more to it and if the candidate is unhappy in their role or looking to grow their career, I encourage them to take the new opportunity.” She does warn against job hopping though and says it is near impossible to place candidates that are seen to move from job to job in order to fulfill their goals, especially if these issues could have been tackled internally.
If you have asked for a salary increase but it was declined, there might be more to it and by placing yourself in that position, you could be showing the company that you are not loyal. This can have an impact on how they view your long term position within the company. There are a percentage of candidates, who accept the counter offer and thrive afterwards, but for 80% that find themselves in this situation, the relationships are affected, often strained and it is evident that there is a trust issue. Most candidates leave within 6 months of receiving a counter offer.
Some things to think about when you engage with your company on this:
- Don’t burn bridges with the recruitment company by going for interviews and then go back and forth with counter offers – very often, they won’t work with you again
- Think about your career objectives and why you want to move from your current position
- Encourage an open discussion with your manager about your expectations and be open to discussing what they are prepared to do within a certain time frame, before you start actively looking for another opportunity
- If the issues surrounding your vision to change jobs is related to travel, financial growth or career growth, there is always an opportunity to negotiate before you enter the job market again
- Will your job security be negatively affected if you hand in your resignation with the intention of getting a counter offer, this is a valuable consideration
If you are going to accept a counter offer, ensure that you are honest and gracious with everyone involved. Often you are the first person to be offered the other role and the new company and your recruiter believe in your skills, you don’t want to tarnish your own reputation along the way. Your personal image is important and everyone involved will always recall how the situation progressed and how you dealt with it. You don’t have to go to this extreme to renegotiate a contract or salary – discuss with your company first and you might be surprised that they have thought of this and were waiting to promote you! Give your company the benefit of the doubt, unless you truly want to move to something bigger and better, with more benefits to you.
HR Company Solutions provides recruitment services to all sectors and encourages open and honest relationships where everyone benefits from the process. Our fees are affordable and our recruiters have years of experience – we are always open to discussing these topics with candidates and clients and look forward to sharing our insights with you.