Congratulations!! Not only did you receive an offer from a new company, but you’ve also gotten your current company to say “Hey, wait? We don’t want you to go! We need you. Let’s work this out!” Despite the urge to run back to your old fling who promises things are going to be different this time, here are some insights into the negative repercussions of this decision.
Your employer is now aware you were ready to jump ship. You even went so far as to interview with other companies, most likely on your current company’s dime (i.e. lunch-break or PTO). While of course it’s acceptable to use your allotted break and time-off to do as you please, will you be able to take another day off without your boss being suspicious? Your loyalty will always be in question.
Did it really take you almost leaving for your company to realize your worth? Your new company has already realized your potential, and is welcoming you with open arms. Go to them! Out of all the candidates they interviewed for the position (statistically, 5-8), they thought YOU were #1. Did your current manager already know how fantastic you are, or did they panic when they realized how much work you’d be leaving them with?
If they throw extra money at you, think about where it’s coming from. All companies have salary guidelines that must be followed. Is this your next raise early? Typically, candidates who accept a counteroffer don’t receive another raise or merit increase again for nearly two years. And, when promotion season hits, managers are more likely to allocate extra funds to staff they perceive as loyal. Or worse, they could start looking for someone at a cheaper salary.
It’s probable that salary isn’t the only issue with your current position. According to USNEWS.com, 70%-80% of people who accept counter offers leave within a year. The phrase money can’t buy you happiness is in its truest form in this scenario. Think about what else was causing you to have a wandering eye – Did they refuse to promote you? Did they hem and haw about giving you management responsibilities? Were you stuck with a limited career potential? Whatever the reasoning is for originally wanting to leave, just because you can now afford those new shoes or you have a shiny new title, doesn’t mean you’ll be happy.