Whether you are seeking a raise or a promotion, employers often use counter offers in an effort to retain high-value employees that might otherwise leave to go to another company. If your employer offers you a counter offer, you may be wondering how to best handle the situation and evaluate your options. Successful counter offers can result in increased salary, better perks, or even a better job position. Here we will discuss some tips and strategies for handling a counter offer from your employer.
Know Why You are Considering a New Job
If you have been given a counter offer, the first thing you should do is determine what prompted you to seek a new position in the first place. Are you disappointed with your current boss or co-workers? Are you unhappy with your company altogether? Are you looking to climb the ranks to a higher position? If you want more money or a better position, is this something you can get from your current employer? If you are unhappy with your current position will this counter offer solve the problem? Remember to consider all circumstances surrounding the offer, not just the money.
Consider the Total Compensation
There is more to a compensation package than just the base salary. Check to see if your counter offer includes additional perks such as a bonus or equity in the company. Furthermore, does it include additional benefits like added vacation, flex scheduling, gym membership, or any other special perks. Compare this entire compensation package with that of your other job offer to figure out what is most important to you.
Does This Offer Put You on a Solid Track?
If you accept this counter offer will it put you on a solid track to advance your career? You can find this out by speaking with your employer and asking questions about your role within the company. You can inquire about how this new position will impact your career and help you continue on a management track.
Review the Details of the Offer
Find out exactly what is entailed if you accept the counter offer. What will your roles and responsibilities be? Will you have new hours or job duties? It is important to understand what will be expected of you if you accept the offer so you are aware of any new responsibilities that you would be assuming. You want to make sure this is a good fit with your lifestyle.
Listen to Your Inner Voice
You have probably been told at some point in your life to “trust your intuition” and this certainly applies when applying for a new job. After you have carefully considered the pros and cons of the counter offer, it’s time to listen to your inner voice to figure out which way you are leaning. If you ignore those subtle concerns, you may end up regretting it in the future. On the other hand, if you fail to follow your instinct out of fear, you may miss out on a great opportunity.
