When you find a new job through The Squires Group, the next step candidates typically need to take after accepting an offer is informing their current employer that they’re leaving their position. If a candidate is a top performer at their current company, then there’s a chance that the manager will try to entice them to stay by presenting a counteroffer.
Counteroffers are usually raises or promotions that aim to convince a candidate to turn away from their new job and stay where they are currently. While the offer may seem enticing, saying “yes” is often riskier than most would expect. Here’s a look at why saying “no” to a counteroffer is sometimes the best choice.
Underlying Issues Aren’t Resolved
Generally, professionals look for new opportunities because their current job is lacking in some regard. For example, raises may not be happening enough, promotions aren’t available, the culture is a poor fit, there’s no chance to develop new skills, or there’s not much job satisfaction.
While a counteroffer may lead to a pay increase in the moment, it doesn’t mean that the underlying issues that spurred the job search will get better. Future raises, promotions, or skill-building opportunities may not happen still. The culture won’t magically change, and the position might not feel more rewarding.
Since that’s the case, it’s critical to consider whether the job still falls short of your expectations in a way beyond the new salary. If so, then the extra money likely won’t overcome those drawbacks, leaving you in a similar position as you were in before.
Doubts About Your Loyalty Will Grow
When you give your notice to pursue a new job, your current employer knows you are more than willing to leave the company. While the counteroffer may seem like a peace offering on the surface, your attempted resignation won’t soon be forgotten. Instead, management may always wonder if you functionally have one foot out the door, leaving them doubtful about your loyalty.
If a manager questions your loyalty, a few things can occur. You may have fewer opportunities to take part in high-value projects or less access to training. Raises and promotions may be fewer and farther between as well, all because the company is at least partially assuming that you may leave. As a result, your career can stagnate pretty quickly, which can hinder your future growth and access to opportunities.
Plus, saying “yes” to a counteroffer could mean burning a bridge at the company that gave you an offer. There’s a chance that the organization won’t consider you for other positions because they’ll assume that you won’t be loyal to their company based on you changing your mind. As a result, a door can essentially close, and that can hurt your career in the long run.
A Termination Is Potentially Closer Than You Think
In some cases, a company presents a counteroffer not because they want you to stay but because they need time to find a suitable replacement. As a result, they’ll leverage the extra money as a means of serving their own needs. Then, when they find someone else to take the job, they’ll let you go or find a way to encourage you to leave on your own. In that situation, the fantastic position you found before likely isn’t available, leaving you to start your job search again from square one.
Ultimately, if you start looking for a new job through The Squires Group, remember why you thought that was the best move and understand the repercussions of changing your mind after accepting an offer. Often, taking a counteroffer does more harm than good, so it’s an option that’s usually better left unexplored.
