You completed all the interviews. Your references were contacted. But when you gave notice at your company, you were faced with something you may or may not have expected: a counteroffer. 

So now what do you do? There are many considerations in weighing your options. 

We always recommend asking yourself why you’re pursuing a new role and what would persuade you to stay at your current company before you’re at the offer stage. If there are things that would keep you at your current company, what, if anything, have you done to make those changes?

Is your main issue with your manager? Your job responsibilities? Is it about the number of days you have to work in the office or your vacation time? Is it about your company’s values? Or is it purely a monetary consideration? 

In our survey last month, we saw that nearly everyone who ultimately accepted a counteroffer  from their current employer primarily sought more money. In fact, popular advice currently shares that if your only concern is money, then there’s no reason not to take the offer that gives you the most of it. Similarly, if you’re merely seeking a change in benefits or a more flexible schedule and your current employer offers you what you want, you might decide that one company is as good as the other (and one won’t require starting over with a new organization).

If you have larger concerns, money and benefits won’t fix the problem, and you’re likely to find yourself unhappy again before long.

The benefits to employers of making the counteroffer are many, including avoiding the expense of hiring and onboarding a new employee. Depending on your industry, there will be other specific considerations, i.e. a project or a conference or a season or a campaign that your boss can’t or doesn’t want to imagine going through without you.

If you’re offered all of the things you’ve been telling your boss that you wanted only when you suggest that you’re on your way out the door, it’s worth considering if that will feel like too little too late. As Tina Nicolai, an executive career coach and resume writer, says, “If the employer were sincere, the proposed offer would have been made when you originally approached your boss with your concerns.” 

Ideally before interviewing anywhere, you’ve had an honest conversation with yourself about what you’re looking for in a new role and why. If you’re really hoping for a counteroffer from your employer, be honest with yourself then, too. Transparency with your recruiter and with your prospective company is also important.

It’s best to avoid burning bridges where you can, and honesty with everyone involved in the hiring process is how you avoid any fires. Many times, it’s easier to politely extricate yourself (and maintain a relationship) with your current employer than it is to do the same with a company that you reached the offer stage with and then declined. Similarly, if the new employer is using an external recruiter, there’s yet another person involved in your decision to accept or decline the counteroffer. Much time and many resources are put into the process of interviewing a candidate and extending them an offer, so be mindful of that, especially if your intention from the onset is to solicit a counteroffer from your current employer.

Ultimately, you have to make the decision that’s best for you and for your career. Hopefully the considerations above help you when you’re looking for your next job or faced with a counteroffer.

Elizabeth

Elizabeth Houde is a Project Manager at Chaloner. After graduating from Guilford College where they majored in English and Women’s, Gender, and Sexuality Studies and minored in communications, Elizabeth started their career in New York City in publishing as an editorial coordinator.