In some sectors of the market good candidates are hot property at the moment. Some are getting multiple offers when they interview, and many then find that their current companies are desperately trying to keep them.
But is accepting a counteroffer a good idea?
It feels good to know that you’re wanted and that the company where you work is willing to part with some extra money and promises of greater things for you.
But before you take the money and settle back in at your desk, consider a few things.
Replacing you could cost the company an average of £30,000 in lost work and recruitment costs. Your boss’s mind might be on economies, and not how wonderful you are.
You reached into the market for a reason. If that issue still remains then you’re not going to be happy. You’re delaying your departure, not curing the need to leave.
You’ll always be known as the employee who tried to leave. When it comes to reviews, bonuses, and promotions, despite what was promised you won’t be seen as fully loyal and committed.
A few extra thousand pounds and a promise of promotion doesn’t necessarily beat the opportunities in the new role you’ve been offered. New people, new challenges, and new opportunities await.
Overall it almost never works out. Add these points together and it means that you’ll be back in the job market within 6 months, and you’ve missed that perfect opportunity you turned down. Someone else got that job, and you'll always wonder if they’re loving it.