Have you thought about what you would do if you went to your boss and told him you were leaving for another opportunity? Their first question is going to be, “why are you leaving?” I am sure they would want to know what they could do to keep you. Do you think you would be interested in staying if the company made changes for you? Could they offer you more money to stay? If you think there is something your current employer could do to keep you, then I would encourage you to go to your boss now to discuss further instead of going down the counteroffer path later.
A counteroffer is when you share your resignation plans with your current employer, and they make a counteroffer asking you to stay in your current role. Many times they will offer more money for you to stay or make promises to solve the issue that has caused you to look outside the company.
If they offer more money, then I am sure the first paycheck would be nice. Eventually, the same reasons why you are looking now would still be there. You would not be happy long term. Plus, you risk the fact that you didn’t share your unhappiness and intention to change jobs with your current boss beforehand instead of at the time of resigning. This can cause a rocky relationship in the long-run if you decide to stay.
What your current company is thinking…
When you share your resignation, and your boss makes a counteroffer it is normally out of panic. Your boss is buying time because they are wondering, who is going to do your job if you were to leave? It is important to understand that if you stay for a counteroffer, you have suddenly become less than loyal in their eyes.
We have found that 80% of people who remain with a company due to a counteroffer are no longer there in the next 12 months. There are multiple reasons for this – one being the company is now paying above market value for your position. The company realizes they can bring in someone new to the role for less money and let the current go. The second being the excitement of earning more money has waned, and things do not feel the same with your company as it did before.
Talk to your supervisor now before you begin the job search
If you would stay for a counteroffer, the best thing to do is share your unhappiness before beginning the job search. If money is your motivation for change, share your interest in remaining and growing with the company long-term. Share your desire to take on more responsibilities, earn more money, and discuss opportunities for growth. Try to see if any of your concerns can be addressed or solved before beginning the job hunt. This will allow you to move forward with clear intentions.
Coley Company is here to help you navigate these difficult decisions. We have walked through this decision making process with many people. Call or email me if I can help.
Denise Elliott Davis – 336.218.6667 – firstname.lastname@example.org