You just found a new job. Congratulations! Shared the news with your current employer. The next day the Talent Management Director wants to have a conversation with you. They extend a counteroffer in an effort to keep you at your current position. As you consider both offers, know that the US job market is incredibly strong. 58% of Hiring Managers are extending counteroffers to retain employees. Currently, there are more job openings available than job seekers, offering an abundance of opportunities for the job seeker.
“The laws of supply and demand often create a natural order in the job market. If your creative or marketing role is hot, you’ll likely have your pick of companies searching for people with your skill set. Couple that with a limited pool of qualified applicants, and you’ve got the perfect environment for rising salaries. While that may put you in a prime spot in terms of employment prospects, it may also put you in a tricky one when it comes to handling counteroffers.”
Think carefully about the following questions before accepting a counteroffer…
- Does your current organization exemplify your desired company culture compared to the new job?
- Would your career path improve by staying or leaving?
- Is the compensation equal to or greater than the new salary?
- Is your current commute more or less favorable than the new location?
- Would staying put be a long-term solution or just a temporary band-aid?
According to Monster, “No matter what the offer or counteroffer is, if the underlying job dissatisfaction issues aren’t addressed, then it doesn’t make a difference.”
Carefully answer these questions, conduct your own research online, and discuss the situation with people you trust. In the end, it may come down to you simply trusting your intuition and listening to your gut.