Should I Accept a Counteroffer? 7 Reasons to Think Twice
When you hand in your resignation, your employer may provide a counteroffer to convince you to stay. However, taking their proposal can lead to negative consequences for your career.
Following through on a new job offer without looking back not only protects your career trajectory, but also unleashes your full potential as a rising leader in your field. Here are seven reasons why you should not accept a counteroffer and why forward is the only direction you should go.
1. Your job dissatisfaction may continue.
Is more money worth dealing with the same problems? A raise can briefly renew your optimism toward and trust in your employer, but over time, it may become evident that nothing has changed.
According to Gallup, significant cultural transformation typically takes 3-5 years. Even if your company develops a plan to address your concerns—such as poor work-life balance, bad management, or lack of career growth—your reasons for leaving may continually resurface over the next year.
Compensation issues won’t completely go away either. If your company was only willing to bump up your salary upon your resignation, it’s possible you’ll be disappointed again the next time you seek a raise, promotion, or salary adjustment.
2. Your loyalty will be questioned.
Handing in your resignation is a trust-breaking moment. It tells your company that you’re ready to leave—and when you reverse your decision, your leaders may perceive that your commitment goes to whichever firm is willing to pay more. In fact, 71% of senior executives agreed superiors question the loyalty of employees who accept counteroffers.
This broken trust can not only hinder your relationship with your manager, but also impact your place in line for a promotion—or even put you at risk if layoffs occur. Leaving on good terms and leveraging your positive workplace relationships for future references could benefit your career trajectory far more.
3. You may have been underpaid.
If your company is eager to present a counteroffer, it’s possible they were underpaying you before you decided to resign. By exceeding the compensation you were offered, your current employer may just be adjusting to your true market value. They may utilize this counteroffer to excuse themselves from providing a significant raise, no matter how positive your annual review, causing your compensation to continuously lag behind your growing worth.
4. A new career can spark professional growth.
New job opportunities often lead to skyrocketing potential. Your next employer can give you access to new mentors, perspectives, ways of working, professional development programs, and beyond—perhaps even setting you on a well-suited career path you never considered before. You’ll be challenged to stretch beyond your comfort zone.
On the other hand, accepting a counteroffer from your current employer often means engraining yourself in the same team and work processes you’re already used to.
5. The counteroffer could be a stalling tactic.
The cost of replacing an employee can cost 3-4 times their salary. When a company makes a counteroffer, it’s not always because they suddenly recognize your full value—odds are your employers will still anticipate your future leave and take actions to end the relationship on their terms and timelines.
Counteroffers are often utilized to delay the cost of a replacement or buy time to hire someone who could eventually step into your role. In fact, 45% of hiring managers agree counteroffers are just short-term cures.
6. Your new employers will recognize your value.
When you start working with a new team, you have plenty of opportunities to stand out. Fresh perspectives can add immense value to a company, allowing you to quickly gain confidence, respect, and kudos from your manager and peers.
On the flip side, long-term growth can be more difficult to notice and measure. If your company doesn’t have annual salary reviews and significant employee recognition strategies in place, your perceived value won’t scale as quickly, hindering your progress toward professional goals.
7. You were job searching for a reason.
Why did you start applying for new jobs in the first place? Even if you were a passive job seeker who had no notable issues with your current employer, you were compelled to chat with a recruiter, complete an interview process, and resign—that takes motivation.
If you simply hit a lull in your current career, a fresh start can increase your job satisfaction, grow your professional network, and renew your excitement for your work. Your new employer may also better align with your values and expectations.
It’s time for a change. Let Concero help.
Your employer’s bid for your loyalty may get you wondering, “Should I accept a counteroffer?” However, the best answer is typically no. Turning down a counteroffer can feel risky, but accepting a new job offer can lead to incredibly rewarding outcomes. You’ll gain new opportunities for professional growth—and you’ll escape the often-negative outcomes of accepting a counteroffer after your resignation.
When you’re ready for a change, Concero can connect you to job opportunities that keep your career moving forward—not back into the same old, same old. Our thorough recruitment process and growing client base allows us to quickly identify roles that are the best fit for your skillset, motivations, and desired career path.
Make our network your network. Reach out to Concero to get connected to career opportunities that match your professional goals.