You took the plunge, decided now was the time, and handed in your resignation... what happens next? It's quite possible in this candidate-driven recruitment market, your existing employer will offer you a counteroffer. Whilst it can be flattering, there are some things to consider before declining your new job offer.
There's an underlying issue
An increase in pay is an attractive option. If it's the only thing that is going to change with the counteroffer, think very carefully about your next move. If money was not the major motivating factor for changing job roles you could be in a situation further along the road when you are looking again for a change of role. More money does not always mean better job satisfaction.
Loyalty
If you are looking for a pay increase, resigning from your job role, isn't the way to go about it and calls your loyalty into question with your employer, so be careful. Instead, speak to your line manager and/or HR team and present your case for an increase in pay. There's a chance that when it comes to being considered for other roles, you may be viewed as expendable when compared to other employees who have not previously tried to resign.
There's no career progression
Chances are if you are reading this, you are interested in finding a new job role and furthering your career. When a counteroffer is solely about money, pause and think. We've acknowledged already that an increase in pay makes for a compelling case to stay put, but try to think long-term. Can your current employer offer what you are looking for in terms of career progression and long-term goals? Are they offering higher pay and some learning and development that will increase your skill base for future roles?
If they could, why didn't they?
If it takes you resigning for your employer to up their game in terms of pay, benefits and conditions, you may need to evaluate your employer's integrity.
You're in for a long wait
If your counteroffer revolves solely around pay, there's a good chance that when it comes to future pay rises, you'll be overlooked and end up in a similar situation to increase your pay.
Stalling tactic
When it comes to recruitment, it's tough for employers right now. If your departure from the company puts them in a critical situation, you might find that your counteroffer is a short-term solution from them to get them through a difficult period and give them the breathing space to find a replacement for your eventual resignation.
If you receive a genuine counteroffer, that is not based solely on money but involves some career progression that fits around your own longer-term goals then good for you, be mindful of the loyalty aspect of what we've talked about here and make sure you have an open discussion with your current employer to mitigate any hostility that may occur with the leaders and team within the business.
I hope you find this helpful and as ever I'm here to support my candidates; if you need any help or advice with your job hunting, please do get in contact with me.