5 Reasons Counter Offers Can Ruin You
I decided that I would dedicate Post #100 on the new blog platform The Interview Guru Blog, to be something special. A topic near to my heart is the Counter Offer.
So is accepting a counter offer good or bad? I have always heard that it is bad but it seems so enticing. There are so many more reasons which are laid out from a previous post (Should I Accept a Counter Offer) however here are some additional thoughts that aren’t necessarily laid out in that post.
• If you are with a company less than two years, the counter offer tends to be in the form of money. Money in a variety of forms too. It could be more base, a bonus, a commission structure, paid benefits (ie. healthcare, 401k, etc.) If you have been with a company longer than 2 years the counter offer tends to be more EMOTIONAL (ie. the promotion, the title, corner office, etc)
• The vast majority of accepted counteroffers do not work out well. Statistics show that 85% of those who accept a counteroffer end up leaving, voluntarily or involuntarily, within one year.
• Entertaining a counteroffer after accepting another job can appear threatening. The hiring company may feel their back is against a wall and a level of trust breaks down.
• Certain job communities are very tight and word gets around about people accepting counteroffers. Hiring managers talk. Make sure you understand the potential risk to future jobs within the industry.
• Conversely, by rejecting a counteroffer, both the original hiring company and the one making the counteroffer (your current company) will probably respect you more for sticking to the original agreement. This is spite of the fact that the other company loses out in this instance.
For more information on Counter Offers, follow the American Tale of my friend Wendall here.
Counter offers are said to be career suicide. In my profession, I see people’s careers from a 10,000 foot view and am not as emotionally involved in specific situation. Counter offers almost NEVER work out in the long run. Have you ever accepted a counter offer? Known someone who has? If so, good or bad experience in the long run?
I wish you much success.
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