Counter-offers: should you accept one?

If you have handed in your resignation, there is a good chance your employer will try to keep you. There are plenty of statistics in the market on how often counter-offers are made and accepted, and while the numbers vary, a common thread runs through them: many people who accept a counter-offer end up moving on anyway, with one UK survey finding that almost three quarters had left within a year.

It is something our consultants see too, with candidates who have decided to stay often getting back in touch a few months later because the reasons they wanted to move on in the first place are still there.

Employers make counter-offers because replacing skilled people amid tough competition for top talent is costly and slow, so if yours has just presented you with one and you are wondering what to do next, this blog post is for you.

Your employer’s offer may match the salary you’ve been dreaming of, or even exceed it with a few perks thrown in, but is accepting it the right move?

This guide goes through the things to consider before accepting a counter-offer, including the impact of staying, to help you weigh up whether it is the right choice for you.

Things to consider before accepting counter-offers

Your reasons for looking for a new job

Start by circling back to why you wanted to leave your current job in the first place. Was it because the workplace is toxic, or because the company doesn’t offer the growth and development opportunities you are looking for?

If the reason is purely financial and you are otherwise happy, accepting the counter-offer can make sense, as this is the situation in which counter-offers tend to work best. If your reasons go beyond pay, read on.

Has your employer solved the existing issues?

Have an open conversation with your employer about your concerns. If they agree to make changes, you need to assess whether these are genuine. Asking for a timeline for those changes is one way to test their commitment, but the rest comes down to assessing previous behaviour: do they keep their promises and follow through, and has the business let you down before?

Will you be happy working for this employer in the future?

Picture yourself working for this company over the next six months to a year and ask yourself honestly whether you will be happy there. The best job is the one you thrive in, and if you had concerns about the culture and the people before, those things will not change overnight. Be realistic about whether what your employer is changing or offering will make a difference to your day-to-day work, because if it won’t, accepting the counter-offer will not help.

Gauge whether your employer truly values you

Feeling valued has a big impact on job satisfaction, so you need to determine whether your employer genuinely recognises your contribution to the company. Or is it possible that they are trying to retain you because they don’t have the energy to look for someone else, or because they would rather avoid the cost of replacing you?

Risks of accepting counter-offers

Even when the offer itself is a good one, staying comes with risks that are worth weighing up.

Here’s what could happen:

• Erosion of trust. Your employer now knows that you were planning to leave, so they might view you as disloyal or a flight risk, which could see you excluded from key projects or passed over for promotion. If you decide to stick it out, be prepared to work hard to re-establish that trust.
• Negative reputation. If you had already accepted another job, rejecting it to accept a counter-offer may not be good for your professional reputation, and hirers might start to view you as someone who is hard to retain. That is why it is important to be sure your mind is made up before you start looking for a new job.
• Job loss. A counter-offer doesn’t always mean your employer really wants to keep you. They might be buying time while they quietly find a replacement, and should the business need to downsize, you could be among the first to go.

Conclusion

Accepting or declining a counter-offer has its pros and cons, and the right answer usually depends on why you wanted to leave in the first place. If it was all about pay, staying may well work out, but if the real issues lie with the role, your manager or your prospects, a pay rise is unlikely to fix them. Either way, it’s important to weigh up your options carefully before taking the next step.

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