Now, we’re not here to debate whether the “Great Resignation” is an actual phenomenon or a sweeping statement, but we are here to help you handle a situation that can occur when handing in your resignation: a counteroffer.

Factually the number of open jobs surpassed 1 million in the UK for the first time ever in August 2021. This happened for a myriad of reasons that we won’t bore you with but bearing this in mind may help you understand why a counteroffer, when you hand your notice in, might be coming your way and how you can handle this.

This blog will discuss how to handle a counteroffer in 3 easy steps; acknowledge, consider and accept/decline.

1. ACKNOWLEDGE:

Be appreciative, and ask for some time to think it over, as you want to be certain about your decision.

2. CONSIDER:

Why your boss is making you a Counteroffer:

  • Why is your boss making you a counteroffer? Is it because you’re a valuable member of staff? Or because recruiting someone else may be expensive and time-consuming?
  • 50% of employees accept counteroffers, but 80% of these leave within six months, and 90% do within a year. This might suggest that maybe money wasn’t your reason for wanting to leave?

Should you accept?

  • Think about your reasons for wanting to leave. What is your motivation? Is it simply because you want to be paid more? If so, you should speak with your boss about this before deciding to resign.
  • Or are you wanting to quit because you want career progression? A new industry? A change of career? You just aren’t happy, or your values and personality don’t align with that of the company? If any of these are the reason, then accepting a counteroffer will not solve the problems.
  • Once you’ve given in your notice, your relationship with your boss will never be the same again. You will forever question the value they place on you, and they will in turn be questioning your loyalty.

It has been shown that job security decreases after a counteroffer has been accepted, as your company is questioning your loyalty, so if they find themselves needing to make redundancies, you may be the one pushed out

3. ACCEPT OR DECLINE

  • How do you want to tell your employer your answer? Think about how you would be most comfortable doing this, e.g., in person or by phone etc.
  • Express gratitude for the offer
  • State your decision clearly
  • Give clear reasons for why you are accepting/declining
  • If you decide to decline the offer you could provide a referral if you know of someone else looking for a job who you think could suit the role
  • Finish on a positive note, express what aspects of the job you liked, and perhaps express a wish to keep in touch

Case Study:

Here at Kameo, we recently had a situation arise where a candidate got offered a a great position, with more money and an agreement to fund extra qualifications. However, after the candidate handed in their notice, a counteroffer was made by his current employer, who decided to match the salary, and the qualification funding, and even then said they’d let him work remotely whereas the new position he was offered required full time office work. Therefore, the candidate accepted the counteroffer. He only stayed there an extra two months however, as his relationship with his manager didn’t improve and he realised that this was the reason he wanted to leave, and not just because of career progression and working remotely.

Need help handling your counteroffer? Please get in touch on 01223 607670 / office@kameorecruitment.com