May 28, 2024

The Golden Handcuffs: Why Most Counteroffers Backfire

Author: Robson Leslie

Date: May 28, 2024

Categories: Career, Career Advice

So You Got a Counteroffer... Now What?


Congrats! You’ve been offered a dream role, one that supports your career ambitions, and have handed in your notice, and then... boom. Your current boss throws a counteroffer your way. It's a classic move, and believe me, we've been seeing it more and more lately.


Here's the thing, though: our research has shown us that only 40% of people who accept counteroffers stick around for another year. That means 6 out of 10 end up leaving anyway!


Why the Sudden Change of Heart?


Let's be honest, your company isn't suddenly showering you with love because they value your personal growth. It's more likely a panicked reaction to losing a valuable QS. A counteroffer is often a quick fix, not a genuine investment in you.


Don't Lose Sight of Your Dream Job


While you're weighing your options, remember that your dream job might not wait around forever. The longer you take to decide, the higher the chance someone else will snag it.


Why Did You Want to Leave in the First Place?


Think back to why you started job hunting. Was it just about the money? Or were you craving new challenges, a better work-life balance, or a healthier company culture?


The Counteroffer Illusion


Sure, a bigger salary and promises of promotions are tempting. But will they truly address the deeper issues that made you want to leave? What happens when those promises fall flat? Often, those perks are a knee-jerk reaction, not a lasting change.


The "Carrot Dangle" Dance


It takes serious willpower to resist a counteroffer, especially when your employer starts throwing around even bigger carrots during your notice period. Remember, these shiny perks weren't offered until you threatened to leave. Are they genuine or just a desperate attempt to keep you on board?


What You Can Say to Your Manager:


If you're ready to move on, be firm but polite. Thank them for the offer, but clearly state that your decision to leave is final. Explain that the counteroffer doesn't change the reasons behind your departure. Express your excitement about the opportunities and growth potential awaiting you in your new role and ask them to respect your decision.


My Honest Advice:


  • Counteroffers usually address the short-term problem, not the root of your unhappiness.


  • Don't be fooled by empty promises – actions speak louder than words.


  • Your manager’s sudden change of heart might reveal their true colours. Are they the kind of leader you want to work for in the long run?


  • Remember, those perks weren't there before you handed in your notice. Does that tell you anything?


The Big Decision


Think long and hard about whether the counteroffer truly aligns with your career goals and personal values. Will it make you happy in the long run, or will you find yourself back on the hunt in a few months?


Change can be daunting, but it can also be incredibly rewarding. If you're genuinely excited about your new job, don't let a counteroffer hold you back. Trust your gut, embrace the unknown, and take a leap towards a future that truly fulfils you.