As a job seeker, you dream of potential employers fighting to secure your services, offering you an increasingly higher salary and more generous perks in their clamor to get you on their side. But the reality is that this kind of bidding war is rare, and if you do receive a counteroffer, it might not be the rosy opportunity that it seems. You owe it to yourself to be wary of any counteroffer, at least until you do your due diligence. You might be inviting these consequences without even realizing it:
Your Relationship with Your Old Employer Sours
Imagine that you leveraged an offer from a new employer in order to get a raise from your current employer. Sure, you are making more money, but you are also the person that was prepared to jump ship. That kind of stigma can quickly sour even a strong relationship and lead to a caustic working environment. You might even be making yourself more susceptible to future layoffs. It sounds dramatic, but it’s more common than you think. Research suggests that 70 to 80 percent of employees that accept counteroffers end up leaving their employer within a year.
You Forget What Motivated Your Job Search
Making more money is always nice, but it is rarely the sole motivating factor for wanting to leave a job. If you accept a counteroffer and stick with your current employer, you are likely forgetting the factors that motivated you to leave in the first place. You might be making more money, but if you find your job boring, your coworkers hard to be around, or your office environment unpleasant, was the extra compensation really worth it?
You Endanger Your Chances of Future Raises
If you had threatened to leave and actually secure a job offer from another competitor before your current employer was willing to pay you more, how likely do you think they will be to boost your compensation in the future? They clearly either didn’t have the means, the motivation, or the respect for your performance to compensate you when you were fully committed. And now that you have been paid more and displayed an instinct for disloyalty, you will likely struggle to get raises in the future.
You Ruin Your Chances with a New Employer
If a company makes you an offer and then you turn them down to stay where you are, don’t expect that first company to come calling again. They put in the time and money to recruit you, and were so impressed that they were willing to hire you, but you ultimately just used them for leverage. That kind of behavior sticks in a recruiter’s mind. You are probably ruining your future chances of working with a company that could ultimately have more to offer.
This is not to say that it is never worth it to accept a counteroffer, just that you should understand the consequences before you make a hasty decision. Learn more about keeping your career trajectory on the ascent by partnering with the team at JH Staffing Services.