Counteroffers Are Abundant!
In today’s candidate driven market, counteroffers are not only prevalent, they are expected. But beware of the dangers of the counteroffer as your employer will make an offer ‘you can’t refuse!’
Most candidates receive counteroffers from their current employers because employers know how difficult it is to find good employees. It’s easier to keep who you have by increasing their salary or benefits than replacing the employee. But as the employee who just accepted the counteroffer, ask yourself why are you worth more now than you were prior to submitting your resignation? Why did it take the threat of leaving for your boss to value your worth?
Tick tock, tick tock….what is that you ask? That’s the expiration of your job! Once you accept a counteroffer, you’ve just shown your hand and told your employer that you aren’t happy and in fact, you are exploring other opportunities. You’ve got approximately 6 months before you are terminated because your boss just started looking for your replacement. Tick tock, tick tock….
Counteroffers may include a salary increase, more time off and a promotion in title and responsibility. But even when counteroffers are in writing, there is no assurance as to how long you’ll remain employed.
The absolute worst case scenario is to blatantly use an outside offer to negotiate a pay increase or promotion. You’ll quickly find yourself unemployed and possibly without references.
Put an end to the potential of a counteroffer by including the following in your resignation letter “I have now made a commitment to another company. I have made this decision based on what is best for my career and family. Therefore, my decision is irrevocable and any counteroffers will not be considered. My last day of employment will be X.”
Take care of your career and control your destiny.
Join us next week when Keith talks about “Life Without Monster” and no, he’s not referring to his spouse.