01. 05. 2022

Counter offers! Remember why you started looking in the first place...

Being offered a counter offer by your current employer can be a tempting prospect. After all, who wouldn't want to be offered more money or better benefits to stay in their current job? However, accepting a counter offer can actually be a bad move for a number of reasons.

  1. Trust Issues

Firstly, accepting a counter offer can damage the trust between you and your employer. Your employer may start to question your loyalty and commitment to the company, and this can have an impact on your future career prospects. A counter offer is also often seen as a quick fix by your employer to keep you in your current role, rather than a long-term solution to any issues you may have had.

  1. The Reasons Why You Were Looking For A New Job In The First Place

If you were looking for a new job because you were unhappy with your current role, then accepting a counter offer will not solve the underlying issues. You may have been looking to advance in your career, to have a better work-life balance, or to work with a different team or on different projects. A counter offer might give you a quick boost in pay, but it's unlikely to address these deeper issues.

  1. The Risk of Being Laid-Off

Accepting a counter offer can also put you at risk of being laid off in the future. Your employer may see you as someone who is not fully committed to the company and who may be looking for other opportunities in the future. In the event of restructuring or budget cuts, you could be one of the first to go.

  1. The Perception of Your Co-workers

Accepting a counter offer can also damage your relationships with your co-workers. They may perceive you as being disloyal or as someone who is only in it for the money. This can make it difficult to work effectively as a team in the future.

  1. The Possibility of Career Stagnation

Finally, accepting a counter offer can limit your future career prospects. If you stay in the same role for too long, you may become complacent and lose your motivation to progress. In contrast, by accepting a new job offer, you are opening up new opportunities for advancement and growth.

In conclusion, while a counter offer might be tempting, it's important to consider the long-term implications of accepting it. By staying in your current role, you may be limiting your future career prospects and damaging your relationships with your employer and co-workers. If you're unhappy in your current job, it's often better to look for a new opportunity that meets your needs and goals.

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Jimmy
Jimmy
Director - Public Practice & Transactional Finance