Please do look out for more of the BES Business Leader articles in the Jersey Evening Post.
Should you accept a Counter Offer?
In a buoyant market, employers sometimes have to go the extra mile to ensure they retain their best staff, so it’s becoming more likely that employees will receive a counter offer when they hand in their resignation. Whether or not you choose to accept this offer, is a difficult and important decision.
The most important thing to remember when being presented with a counter offer is why did you want to leave in the first place? If it was due to a lack of career progression, the hours being worked or the possibility of a more exciting opportunity elsewhere, then a higher salary will not erase your concerns.
It is also worth considering why your employer is making a counter offer. Your employer is obviously keen to retain you, but is that because hiring and training a new member of staff will be more costly? Something had made you unhappy enough to look for and then accept another role, a financial increase may not be the solution. Do be aware that if you accept the counter offer you may be a long time before you receive a pay rise and your employer’s expectations of your performance will be raised considerably if they believe they are paying you over and above their standard salary.
The final point to note is whether you would have received the offered pay rise if you hadn’t resigned – and if not, should it have taken such an extreme measure as resigning for your employer to recognise your worth?