One of the biggest questions you might face in your career is: “should I accept a counter offer?”

Will you be better off staying where you are, or should you take on a new role? If you’re wanting to change your job (based solely on gaining a higher salary) then here’s what you should consider:

Why has your employer offered you a counter offer?

If you are presented with a counter offer from your current employer, it can be a challenging decision to make. If you’re unsure what might be better for you in the long run, you’ll need to outweigh all the pros and cons before making a decision that will impact your future.

But first, it might be worth understanding why your employer has given you a counter offer in the first place. Most of the time (this isn’t relevant for every case), your employer may have offered this because it’s easier for the company to retain you as an employee rather than try to find a replacement which could cost their business more money.

This means that a counter offer can sometimes be in their best interest but could be a quick fix like a band-aid on a broken leg for you (food for thought). Instead, think—what strategic move should you make, that will best benefit you?

Do counter offers work?

Accepting a counter offer can work. This can be a great solution if you’re only looking for a higher salary and are genuinely happy and content with your job and the company culture. But every situation is different, and if you’re facing this, you’ll need to put things into perspective and evaluate what you want from your job and which offer will best suit your needs.

The pros and cons of accepting a counter offer:

Pros:

• Higher pay

If you’re a valuable employee an employer is likely to offer you a higher pay to keep you on board, and if that’s the only reason you decided to search for another job, then this could be your solution.

• You don’t have to start fresh again

Some of the most stressful aspects of starting somewhere new include training, introductions, onboarding, understanding what’s expected of you, and ultimately being new. Negotiating key changes with your employer and being able to remain in the same place of employment will save you from going through this somewhat stressful change again.

• You know exactly what’s expected of you and how to do your job

Staying in the same workplace also means you won’t have to learn any new programs, tools, or systems, and most likely, your workload and tasks will stay relatively the same.

Cons:

• The pay is higher, but for how long?

The pay might be higher for the time being, however, the risk of taking a counter offer means your salary may not rise again soon. Does this mean you’ll need to find a new job offer each time you want a pay rise?

• You might face the same issue again in a few months

If you have multiple reasons to leave, and you decide to remain at the same company because of a counter offer, it’s more than likely you’ll run into the same issues again. There had to be a main reason you began looking for a new job; what was it? Will it be a problem again?

• You might get a reputation in your industry

If you initially accept a job offer but change your mind and decline the opportunity after receiving a counter offer, you could be taking a risk for other businesses to question your trust and level of commitment.

Have a question for us? If you’re a job seeker on the lookout for your next role, a hiring manager looking to fill a position, or want to know more about this topic, contact us at Humanised Group! We’re here to help you succeed.