Should you Accept a Counteroffer?

The past two years have given us a lot to think about, leading to many people deciding to switch jobs. Though new opportunities aren’t as plentiful as they were at this time last year, they are certainly out there, especially for those with in-demand skills, such as tech workers. However, as competition for talent remains fierce, the likelihood that your organisation may present you with a counteroffer will increase. And, considering the current uncertainty and volatility of the economy, many will be tempted to accept that offer.

But, if you’re fortunate to find yourself in the position of choosing between two roles, there are a few things you should consider.

Why did you look for a new job in the first place?

Think about the reasons you decided to leave your current position. Perhaps you feel as though you’ve gained as much experience as you can in this role, or you feel unappreciated and unchallenged. Most counteroffers are built upon an increase in salary, but that isn’t the only thing that keeps people motivated at work. Chances are, once the glow of the pay rise has worn off, you’ll have all the same feelings you had when you first wanted to leave – but now you’ll have to start your job search from scratch.

What is on offer apart from salary?

So, if salary isn’t the only motivator – what else is the business offering you? We wouldn’t blame anyone for accepting a ‘safe’ offer at the current time, but let’s think about the whole package. What other benefits will you be receiving? Will this offer include a promotion, a new challenge and more responsibility? If there is enough included to form an attractive proposition, you may wish to consider accepting, but think carefully about all the things you wanted from a new role, not just the new salary.

Why has the offer only been made when you wanted to leave?

2020 has brought challenge after challenge for employees, and many have gone above and beyond to adapt to the changing needs of their organisations. If that includes you, why have you only been recognised now that you’ve indicated you want to leave. All of us deserve to be appreciated at work, and no one wants to be caught in a cycle of having to secure a new opportunity elsewhere in order to be recognised in their existing role. Ask your potential new employer about rewards and recognition, and think carefully about how much you feel your current business values your input.

What is best for you?

Ultimately, though it may feel as though you’re in a tough spot and your decision might not be easy, it’s important to remember that you hold all the cards. Both organisations have recognised your value, so it’s up to you to decide upon the best move for you.

We understand it can be tempting to accept a counteroffer; it feels more ‘secure’, and there is likely to be more money on the table. But, more often than not, we know that the candidate that accepts the counteroffer will be job hunting again in the next few months – and it can be difficult to convince employers to take a second chance on candidates that have previously rejected them. Whatever you decide, make sure you consider your long term happiness and career goals.

CPS are the experts at finding experts. If you’re looking for a new role within technology, please get in touch with one of our consultants for a confidential chat.