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Home » counter offer

counter offer

December 20, 2020 by Amy Shanks Leave a Comment

COUNTEROFFERS AND COVID

Counter offers are not as good as they seem.

Counteroffers – good or bad? The rate of revenue collected in the IT and Legal sectors have taken a nosedive this year. This is another economic effect of the coronavirus pandemic (COVID). Many law school graduates still remain in a state of limbo as top law firms have seen pay cuts, layoffs, and furloughs. 

With the promise of a vaccine near, there are some bright spots that point to economic recovery. One boost has come from law firms with strong labor and employment practices as their clients navigate cutting jobs and addressing workplace safety issues. There is a trend towards growth as the Bureau of Labor Statistics reported that the legal industry added 1,900 jobs in July.

During these uncertain times, employees attempting to move on to new jobs may be subject to “generous” counteroffers from their current employers. However, as the adage goes, appearances can be deceiving.

Especially in light of the pandemic, most employers with any interest in pulling themselves out of the current downturn in revenue will try to retain you with a moderately attractive counteroffer. This tactic may be to buy themselves time.

The counteroffer is more so for the employer’s interests than it is for you. If your employer valued you and you were satisfied with your wage and the work environment, you would not have looked elsewhere for employment. Remember, a counteroffer is not a solid promise.

Consider these five reasons why you should reject a counteroffer:

1. Your increase may have been a future raise.

If a raise is offered as part of your counteroffer, take into consideration that all firms have budgets with wage guidelines. The increase included in your counteroffer may represent your future raise granted early. Translated this means you will have to wait longer to see another increase.

2. Counteroffers may create a toll on your work relationships.

If you accept your employer’s counteroffer and remain at your current position you may face alienation from the company’s culture. On a ground level, your coworkers may see you as disloyal and no longer a part of the team. In their eyes, you tried to leave them.

3. The same issues may resurface.

If the reason you decided to move on from your employment was any issue other than money, then your dissatisfaction may return after the glow of your pay raise fades. Also, if the corporate culture changes promised in your counteroffer do not last, you will soon be back to job hunting.

4. You may have stunted your ability to be promoted.

No matter what, if you accept a counteroffer, your credibility and reputation within the organization will fundamentally change. Your manager will always question your loyalty as you will be seen as a dissatisfied employee or “the one who wanted to leave.” This may cause you to be passed over for future promotions or important projects.

5. Counteroffers may narrow your job options in the future.

If you make it through a company’s hiring process only to turn around and accept your current employer’s counteroffer, you should not expect the prospective employer to ever consider you for a position again. Also, realize that the legal community is smaller than you think.

When evaluating an employer’s counteroffer it’s important to remove your ego from the equation. Be clear on the issues are that caused you to seek a new job in the first place and evaluate the counteroffer from that perspective. Unless the counteroffer addresses all of the reasons why you considered leaving in the first place, it’s best to move on. Even if the counteroffer does address all your issues, there are always drawbacks to consider.

Strategic Recruitment Solutions has been matching top companies with top talent in the Gulf Region for more than a decade. We specialize in Legal and IT recruiting. Also, our industry-expert recruiters can offer insight and guidance. Call us today at 888-366-6508 to learn how easy partnering with SRS can help you reach your business goals. Best of all, we offer a free resume review. Find out more information here.

 

Filed Under: COVID-19, Employment News, General Recruiting Tagged With: counter offer, employment, executive recruiter, job interview, job market, legal jobs, legal recruiter

September 24, 2013 by Amy Shanks Leave a Comment

WHEN TO COUNTER OFFER AND WHEN TO RESIGN

“WE ARE NEVER EVER GETTING BACK TOGETHER”

– How to handle counter offers

dumped bodyAfter great thought and mental anguish, after pondering the pros and cons, you have made up your mind.  You began a job search in earnest or listened to opportunities that you believed represented a better situation than you currently have.  You are going to resign but are surprised and maybe even quite flattered to be given a counter offer by your current employer.  Your current employer may offer better pay, better working conditions, better benefits and a sincere apology for not valuing you more highly when faced with the reality of losing you.  BEWARE!!  CONSIDER THE CONSEQUENCES, EFFECTS OF ACCEPTING A COUNTER OFFER AND RESCINDING YOUR ACCEPTANCE OF THE NEW JOB.

Breaking up is really, really hard to do!  Resigning from a job is probably the closest thing we will ever do as grownups that repeats high school.  Do you remember breaking up with your girlfriend or boyfriend when you were young?  Have you ever heard a significant other say, “Please don’t leave me.  I will change.”  Most of us learned that the only problem is that nothing every changed for long.  Well, history repeats itself!

First, what will be the effects of deciding to stay with your current employer?  You might initially feel relief that you do not have to leave your comfort zone.  You might feel that you are finally truly appreciated.  AGAIN BEWARE!!  It’s all just business baby.  Your current boss will now perceive you differently.  She/he may privately resent you and question your loyalty.  The counter offer may just be the way the boss buys some very valuable time to find a more loyal, qualified candidate.  There is a huge likelihood that your boss will start looking for your replacement at a cheaper salary and just use you to bide the time until that replacement is found.

There are other situations which may arise after you have accepted the counter offer.   You may find yourself under suspicion of interviewing for another job whenever you need to take time off.  When there is time for promotions, you may not be considered because you almost left the company.  Sadly, management often rewards blind loyalty.  You may find yourself first on the list for layoffs and reductions in force.

Statistics show that 75 – 90% of those who accept counter offers quit within 6 months or are terminated within one year.  Other considerations – coworkers may resent you.   And those are just the repercussions of accepting the counter offer.  Consider yourself bought off.  Will anything really change?  Was it just a better salary you were looking for?

Now consider the consequences of rescinding the offer you accepted when you resigned from your current employer.   Your value was already established with the new company who thought you were worth more or saw your potential and chose to invest in that potential. The company that “you left at the altar” is expecting you and has cancelled their search, sent Dear John letters to the candidates that were not chosen, arranged for your training and purchased your new equipment and set up your email address.  Your revocation of the offer will quite likely burn bridges with other prospective employers.  Never doubt that negative press spreads like wildfire in tight niche spaces.

Accepting an offer and then getting cold feet can have a snowball effect on your reputation.  Many times the acceptance of an offer of employment is a legally binding contract that holds you responsible for losses the company may suffer due to your actions.

You – the job candidate can become branded as unreliable and such reputations have a way of “getting around” in the business world as well as with the network of recruiters in your space.  Relationships with clients and colleagues suffer.  You may find yourself not put forward for other positions that you may have been suited for.

THINK !!  Before you ever present your resignation letter, go back and make a list of everything that dissatisfies you with your current position.  Read it several times before you present the letter.  Make sure you understand exactly why you no longer want to stay with your current employer and be prepared for a possible counter offer. Remember, sometimes people get fired and sometimes people fire their employer.  If you make the decision that it is time to move on then stand your ground, don’t be swayed by promises, and resign in style.

counter offer help

Filed Under: General Recruiting, Human Resources Tagged With: breaking up, counter offer, quiting a job, resign in style, resignation letters, resigning from job

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