Should You Accept a Counteroffer for a Job This Year?
While the world has been filled with many uncertainties in the past year or two, one thing is certain right now: it is a great time to be a job seeker. At Transition Staffing Group we are seeing firsthand just how much the current climate is in favor of job seekers. Similar to the real estate market where there are a ton of people desperate for houses giving sellers the upper hand, there are countless available positions on the job market, which is giving job seekers the advantage. Considering this, you might end up finding a better position than the one you currently have, whether it be by actively searching or by having a recruiter reach out to you. When you tell your employers, they might respond with a counteroffer that might be tempting! But should you accept one right now?
What Does a Counteroffer Tell You?
Simply put, it tells you that you have the upper hand. A counteroffer from your current company means that they had the budget to be paying you more all along and that they were either undervaluing you or taking advantage of you; either way, it’s not a great sign. They will usually make a counteroffer because of how much less expensive it is for them to retain an existing employee, as opposed to hiring and training someone new.
What are the Risks of Accepting a Counteroffer?
You must consider why you were considering leaving your job in the first place. Many people might seek out a new position because:
- Poor pay
- Poor company culture
- Little room for career advancement
- Feeling stagnant
- Poor management/leadership
Unfortunately, these issues are often still present in 6 or 12 months after accepting a counteroffer. Additionally, your relationship with your employer can change once they realize that you were thinking about leaving. It could be more awkward, there could be a lack of trust, and you might even get overlooked for promotions if they fear you might leave. In fact, many employees who accept a counteroffer still leave within 18 months because counteroffers are more of a short-term appeal to avoid the hassle of transitioning, rather than a long-term solution that is more likely to be found at a new company.
Submit Your Resume Today!
Are you an available candidate seeking a job? Submit your resume to us today! Transition Staffing Group is here to assist you, not only with job placement but with expert career mentorship to help you achieve your professional goals. Job seekers have the advantage right now, so let us help you!