09 Oct Counteroffers; should I stay or should I go?
I realise by discussing this topic that it is likely there will be some mixed opinions; many will agree with mine and others will think I’m completely barking mad. But I stand by the fact that this topic is not covered enough, people are not educated enough and the consequences of either accepting or declining a counter offer are not familiar enough. I realise it is a controversial topic but by shedding some further light on it I hope that I can persuade a few of you that you might be wrong, or at least misinformed.
Have you ever received a counter offer? Were you confused? Angry? Flattered? It was probably a mixture of all three. You’ve probably spent a few weeks at least, maybe months, pondering your exit – the best time to do it, how to express your reasons, your preferred exit strategy etc. but how long did you think about accepting the counter before you did? Something tells me it was more like minutes or seconds. Why? It’s the easy option.
Have you ever received a resignation? Were you let down? Frustrated? Bitter? It was probably a mixture of all three. You’ve probably spent the last few weeks at least, maybe months, blissfully unaware – because they kept coming in, they kept performing and they maintained their level of standard etc. but how long did you spend thinking about it before you realised how difficult it is going to be to replace them? Minutes. Seconds. Why? A counter offer is always the easy option.
Why the easy option is the wrong option:
- It’s familiar.
- It’s cheap.
- It’s short term.
80 % of candidates who accept a counter offer from their current employer end up leaving within 6 months.
I get it, a new job can be scary – the new system, meeting your new team, a new commute and a new working routine but learning and adapting is all part of learning about yourself; the environments you thrive within, the people you work best alongside and the skills you’re best at. By pushing yourself outside of your comfort zone, you better yourself, you can learn from others and self-improve, rather than becoming stale. Not only does learning trigger a chemical reaction releasing dopamine causing you to feel happy and motivated, but it will help to shape yourself into a stronger candidate, improve your earnings and to work towards long-term success in your new role.
9 out of 10 candidates who accept a counter offer leave their current employer within the twelve-month mark.
Yes, I get your fears too – how are we going to find someone at the same level? How quickly can we replace them? How long before the next person is up and running? But before you speak too soon, you may be surprised that there could be someone out there who knows how to work even harder than your current hire. Or that they have a real desire and passion to work for you and so they do, with a smile! A new hire will bring a fresh perspective, a new lease of life and an opportunity to review and improve current processes. Working with your recruitment partner, the hiring process can be streamlined and will allow you create a contingency plan before then hopefully on-boarding a new set of skills and a new personality so that you and your business can grow together.
If you are looking for a career path or employee that provides short term satisfaction, that’s always comfortable and that feels familiar – good luck plateauing.
If not, get in touch with us to discuss your career or hiring needs in property! As recruitment consultants, there is nothing worse than a candidate accepting a counter offer undoing all your hard work. But it’s just as frustrating knowing that they will come around again in 3-6 months when the short-term satisfaction has rubbed off and the same amount of work will be required. For your sake and for our sake, let’s defeat counter-offers together!
We recruit across London and the Greater Home Counties into both permanent and interim solutions across Sales & Lettings, New Homes & Development, Commercial Real Estate, Project Management, Surveying, Property & Block Management as well as all front and back office support functions.