When you’ve decided to leave a job, the moment your employer makes a counteroffer can feel like a lifeline – or a complication. Do you play it safe and take the deal, or seize the opportunity to move on?
At first glance, a counteroffer seems flattering: your employer values you so much that they’re fighting to keep you. But beneath that glossy surface, the reality is far more complex.
In today’s mercurial job market, where 56% of employees are actively seeking new roles, employers are becoming hard-pressed to retain talent – especially in sectors facing skills shortages, like banking, healthcare and IT.
Half of employers in such talent-starved industries are making counteroffers, so if you’re planning to jump ship soon, it’s a situation you might very well face. But before you make any decisions, it’s essential to ask yourself: Is staying really in your best interest?
Why staying isn’t always the best option
There’s something inherently comforting about staying where you are. You know the company, the team, the role. And when the stakes feel high – like during an economic downturn – taking a counteroffer usually feels like the safest option.
Research tells a different story. 80% of employees who accept a counteroffer leave within six months, and 9 out of 10 will be out of the door within a year. Why?
More often than not, counteroffers are a reactionary move by employers. They’re designed to solve the company’s immediate headache, whether that’s avoiding the cost of recruitment, keeping projects on track or maintaining stability.
But once that initial crisis has passed, the same issues that made you want to leave in the first place are likely to resurface.
Chasing the wrong fix: The pay rise trap
40% of counteroffers come with a promise of higher pay. That might seem like enough to reconsider – after all, who doesn’t want more money?
But money isn’t everything, especially when it comes to leaving your job. In fact, the primary reasons why employees leave their roles is work-life balance and lack of flexibility – not salary.
A higher paycheck might be enticing in the short term, but if it doesn’t address the key issues of why you’re unhappy, whether they’re related to culture, development opportunities or flexibility, it’s not going to solve anything.
The emotional tug of loyalty
Another factor many professionals wrestle with is loyalty. You might feel indebted to a company that’s invested in your growth, or you might not want to let your colleagues down.
Here’s the hard truth: loyalty is a two-way street.
If your employer truly valued you, why did it take your resignation for them to offer more money or better conditions? The timing is crucial. Often, a counteroffer is less about recognising your worth and more about keeping you until a more convenient time.
In the end, loyalty to yourself and your career should come first. Career moves – especially significant ones – are often the fastest way to accelerate your growth, broaden your experience and increase your earning potential. Counteroffers can stall this momentum, keeping you in the same space where you’ve already hit a ceiling.
So, how should you navigate a counteroffer?
It’s important not to make a rushed decision when navigating a counteroffer. This is a pivotal moment in your career, and it’s important to approach it thoughtfully.
Instead of jumping at the chance to stay, or immediately walking away, take a step back and consider the bigger picture.
1. Remember your original reasons for leaving
Stay grounded by reminding yourself why you wanted to leave in the first place. Was it a lack of career progression, an unhealthy work-life balance, or a poor company culture? And then think – will the counteroffer solve these issues in a meaningful and lasting way? If you stay, will you still be happy six months down the road, or will you be one of the 80%?
2. What’s the long-term impact?
While a counteroffer can feel like immediate validation, it’s crucial to think long-term. You must prioritise future growth over short-term stability.
Questions to ask yourself:
- Does staying align with my long-term career goals?
- Are there opportunities for development and progression in my current role?
- Will I be in a better position to grow and advance if I stay?
3. Reflect on your relationship with the company
A counteroffer is an opportunity to have a transparent conversation with your employer about what needs to change.
Try asking:
- Why weren’t these improvements discussed before I handed in my notice?
- What changes, beyond salary, can I expect if I stay?
- How will the company support my career development moving forward?
4. Look beyond the money
While a higher salary can be great, most employees leave for reasons that go beyond financial compensation. If these areas aren’t addressed, no amount of money will make up for ongoing dissatisfaction.
When assessing the counteroffer, judge it based on how it will improve your satisfaction or progression within the role. Look for signs that your employer is genuinely committed to making broader, material changes, like offering flexibility, new responsibilities or pathways to advance.
5. Trust your gut
At the end of the day, you know your situation better than anyone. If something doesn’t feel right, trust your instincts.
- Take your time and don’t feel pressured to make an immediate decision. Ask for time to consider the offer fully so that you can look at all the different options.
- Get clarity. Have a detailed conversation with your employer to ensure that any promises made in the counteroffer are realistic and actionable.
- Speak to a trusted mentor or career advisor. Sometimes, an outside perspective can clear the fog and help you see things you may have overlooked.
Final thoughts: Seize the opportunity
Ultimately, accepting a counteroffer often means one thing: choosing comfort over growth.
Staying where you are can feel easier in the moment, but is it worth it if it means closing the door on new opportunities? If you’re feeling stuck and ready for change, it’s time to be bold, to embrace the unknown – because sometimes, the biggest rewards come from taking risks, not settling for more of the same.
At City CV, we help professionals at all levels navigate these critical career decisions. Whether you’re weighing up a counteroffer or ready to make your next big move, we’re here to help you take that next step with confidence.