Last week in the office one of my colleagues put the phone down to a candidate and told me his story. I was reminded of the line in the ikeano production where they sing “I told you so” because what happened was what I warned him about. We had secured a new opportunity for him with increased earnings and career opportunities but the “yes” became a “no” after a meeting with his boss.

What is a counter offer – The definition I like the best is “an inducement from your present employer to get you to stay after your have announced your intention to take another job”.

So how does it all work? Invariably you are approached by an executive recruiter/agency or directly by a client and offered a position with growth potential and an enhanced package compared to what you earn today. You contemplate the respective roles and decide to move to the new opportunity. However when you meet with your boss to resign, he/she asks you to stay and shows their seriousness by offering the increased salary, promotion or external training that was previously denied to you. Suddenly you are the Most Valuable Player (MVP). You may be sent on a guilt trip – you can’t do this to us – and be told for example that the projects success is dependent on you but impacts on others.

This can be a very emotional time for the company and candidate and oftentimes we are resigning to someone that we have worked with for many years and shared many occasions with, both business and pleasure. Sometimes heads can be turned at this critical moment and candidates decide to stay in roles for emotional rather than rational reasons.

Before accepting a counter offer think of the following:

What were the key reasons why you were interested in moving companies? Have these changed because of a counter offer?

If the counter offer includes increased salary of responsibilities where is the source of this? Are you just getting your next promotion or pay increase in advance? Why was this not offered to you before you went in to resign?

Whilst the employer may seek to play on your sense of loyalty, how loyal will they be to you if the business environment changes?

Statistics show that 80% of people who accept counter offers tend to move on within a year and oftentimes to roles not as good as the initial one they declined.

To try and remove the potential of a counter offer from your employer, Talent Partners recommend the following tips:

Resign in writing and hand the letter of resignation to your boss.

Tell him/her that this is an informed decision you have made, having carefully weighed up the merits of the respective roles.

Thank him/her and the Company for the time and success you have had with them and wish them well going forward. Who knows when your paths may cross again?

Be flexible – If you can negotiate a finishing date that suits your employer as well as you. Cooperate fully in the handover to your colleagues before you leave.

If you have any questions on counter offers or would like further information please drop an email to me @ Stephen@talentpartners.ie

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Welcome to the Talent Partners Blog. We are delighted to enter this new and exciting space and we will strive to develop a  blog that will specialise in recruitment in the Irish marketplace and be seen by you as a useful reference site to access when you need the relevant information. We look forward to receiving your feedback and insights.

Stephen

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