Why you should never accept a counter-offer

You did it. 

You took a risk, applied, interviewed and just got a call with the good news – you’ve been offered the job! You didn’t think you’d get this far, so you never thought about how you’re going to break it to your current boss. You decide to go the traditional route and write a resignation letter, sending it to your boss via email on a Friday afternoon. 

On Monday morning, your boss asks you to come into their office. You wonder if you sent in your resignation letter the wrong way, or if she was angry about your departure. You brace yourself as you walk in, only to find your boss asking you to reconsider your resignation while she hands you a counter-offer that includes a promotion and salary increase. 

Should you take the counter-offer?

What is a counter-offer?

A counteroffer reflects your current company’s desire to retain you in their workforce when they find out you want to resign. It typically involves incentives such as promotions, salary increases, extra benefits, or a mix of all the above.  

Usually when a company is prepared to “buy back” your talent, it’s because they recognize the value that you add whether that be the knowledge or skills you possess that are integral to the business. But real talk… doesn’t that feel a little too late? Why are they only recognizing this after you’ve resigned?

When there is a shortage of labour in your designated field, you become more valuable to the company and companies are therefore more inclined to spend more money to retain you. But in most cases, money isn’t the reason you’re leaving. Only 12% of employees actually leave because they want more money and its usually company culture that just doesn’t quite fit with an employee’s lifestyle. 

We’ve compiled a list of reasons why you should NOT accept a counter-offer, no matter how much your current boss is willing to pay. 

#1. You will not be happier staying at your current job

Everyone has heard the phrase: “money doesn’t buy happiness”, and although salary is a huge determinant when it comes to accepting a job offer, it isn’t everything. Employee’s success is directly linked to how managers can foster a meaningful work environment, corresponding to the tasks they attend to in their roles. Therefore, if your current job lacks meaningful work, responsibility for outcomes, and knowledge of results, then likely your motivation will decrease in your role, and you will feel unhappy going to work—even with a bigger paycheck! One must consider if more money is truly worth going to a job that doesn’t motivate you to grow or that doesn’t make you happy.

#2. Company culture does not change 

If you accept your counter-offer and are even offered a new position, the underlying company culture remains the same. A recent survey from LinkedIn found that one of the leading causes for turnover in professional jobs was unsatisfactory work environment and culture. This means that you’ll be stuck in an environment where you do not feel valued and satisfied in, whether that be coworkers you don’t get along with or poor leadership. If the company culture doesn’t reflect your own values and desires, then likely you will not find it to be worthwhile in the end to stay.

#3. Taking risks is crucial to career growth

Staying in your current job may seem like the comfortable choice because you have a pretty good idea as to what will happen in the future. But if you deny your counteroffer, your vision for the future becomes a little blurrier. But taking risks is something all professionals must do to get the job they truly think will fit them in the best way. You can take what you learned from your current job, all the bad and all the good, and apply it to your new job. Hopefully, this can change the way you view your industry and bring you not only career growth, but internal growth as well. 

The truth of the matter is you must let go of your current job to find what you’re truly looking for in a career. According to a LinkedIn survey, around 80% of counter-offer acceptors regret taking it, and often start looking for new jobs within 3 months. Delaying the process only causes resentment and unhappiness, whereas you could be working your new job and finding out what best suits your needs and desires. You decided to look for a job for a reason, and you should take that into consideration when you are debating whether to accept your counteroffer. 

So, when your boss brings you into their office to try to buy you back, ask yourself: can you put a price tag on a fulfilling career?