Counter Offers: Should You Stay or Take the New Job?

Congratulations, you’ve been offered a new job! But just as you’re considering the move, your current employer has presented you with a counter offer to try to persuade you to stay. This may feel stressful – you probably applied for a new job for several good reasons, after all, but it is worth considering every aspect of a counter offer carefully before you make your final decision.

Here, we’ll consider the issues surrounding counter offers and share our tips on making the right decision for you and your career. Whether you are looking to develop your skills, progress in your career or simply increase your salary, you’ll find the key elements you need to consider here.

What is a Counter Offer?

A counter offer is an offer made by your existing employer to encourage you to stay in your role or with the company rather than accepting a new job with a different organisation. This may include a change of job title and/or a salary increase, and the terms you are offered may be negotiable.

Counter offers are increasingly part of the conversation when an employee decides to explore new opportunities. It can be flattering to receive a counter offer, especially if you have not been promoted or offered a pay rise for several years before this, but this does not mean that you should automatically accept as there are many aspects to weigh up.

Should I Accept a Counter Offer?

It’s important to think through the decision carefully when you have been given a counter offer, since it may have big implications for your career. Here’s our simple guide to help you:

• Be Honest With Yourself

Why have you decided to apply for a new job? If the reasons go beyond salary, ask yourself whether the counter offer will genuinely address them. If you are struggling with your current organisation and have been frustrated in their employ, you are unlikely to find significant improvements if you accept a counter offer with a larger salary. However, if you are simply looking to earn more but are generally happy in the organisation, you may feel that this resolves your situation well. Be honest with yourself about all the benefits and problems with your current job and write down as much as possible to give yourself the clarity you need.

• Consider Your Goals

Instead of making your decision based on short term goals, consider where you would like to be in five or ten years and think about how best to support yourself in this journey. Does your current role offer more transferrable skills or is the potential new employer a better prospect for your long-term options?

• Additional Factors

Although this is a decision that relates to your career, you should also consider your work/life balance and the way this could be impacted by your choices. Do either of the companies you are choosing between offer you the option to work remotely or flexibly, for instance, and what are the additional benefits of each role, including holiday allowance and pension contributions? It is also worth looking at the overall package rather than salary alone.

• Workplace Culture

The culture and ethos of your workplace can have a huge impact on your productivity and mental health, and you should consider this carefully when you are presented with a counter offer. If you’ve struggled with the culture in your current role, you should explore why you think this is and how it might be improved if you were to accept the counter offer.

• Practical Details

It may seem like a small consideration, but the location of your workplace may have a significant impact on your daily life and it is worth weighing up practical details such as this. Think about the impact on your commute and the working hours that would be required in each role and consider your options carefully.

• Talk With Your Manager

If you are able to, have an honest discussion with your manager about your concerns and the reason for looking for an alternative role in the first place. If you are met with confrontation or an unwillingness to listen, this may be a good reminder of your reasons for wanting to make a change! However, if your manager is open to negotiation and you have a good rapport, this may be a good reason to accept a counter offer.

Your Professional Recruitment Agency in Ireland

At CareerWise, our experienced team can help you throughout the recruitment process, whether you are looking for a new role with a specific company or aiming to brush up on your interview skills. We offer services for executives and managers, as well as recruitment and contractor management services, and we work with local, national and multinational organisations to identify the best connections for you.

Our professional recruitment experts specialise in the pharmaceutical industry, Engineering sector, Production and Supply Chain. We can tailor our services to suit you or your business, so give us a call to book an appointment today.

Diarmuid Buckley

(Recruitment Manager), CME – Cork Office

Diarmuid joins Careerwise with a strong Industrial technical support, technical recruitment and capital equipment sales background. He has had extensive exposure to the manufacturing sector within Ireland from his previous roles with a number of leading multinational companies such as Siemens, Atlas Copco and Logitech.

Diarmuid holds a Post Graduate Diploma in Management from the Open University along with technical qualifications in Electrical Engineering and Automation from the CIT.

Diarmuid is also qualified as a Certified Manufacturing Engineer with the Society of Manufacturing Engineers.

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