The Risks of a Counteroffer: Should You Stay or Should You Go?

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Guest Blog by The Creative Group

Should you stay or should you go?

On the surface, it sounds like a dream situation: you receive an exciting new job offer from a cool company and an enticing counteroffer from your current employer. Accepting a counteroffer can be very tempting: more money and other shiny new perks, all without having to uproot yourself from a comfortable routine. But after finding another opportunity, think twice before renewing your workplace vows with your current employer. Accepting a counteroffer can be a bad career move. If you find yourself being wooed by your current employer after turning in your notice, here are some things you need to know before making a final decision.

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1. Downsides of Staying
According to a recent survey by The Creative Group, 28 percent of respondents admitted they would question the loyalty of workers who opted to stay. So, accepting a counteroffer can create several problems. One, you’ve already played your card and signaled to your boss that you’re a flight risk. That can take you out of the running when it comes to earning future promotions, and it may cause your company to think twice before investing in you by sending you to conferences or paying for training. Two, it doesn’t look good to commit to a new employer but then go back on your word. You may burn a bridge and tarnish your reputation.

2. More Than Money
Perhaps the most important reason to think twice about a counteroffer is it often doesn’t address the reasons you want to leave. A bump in salary might give you an immediate sense of being appreciated, but chances are that it won’t keep you happy in that job in the long run. As you weigh the new offer against the counteroffer, recall what originally compelled you to search for another position. Perhaps you feel your creativity and skills are not being fully utilized in your current job, or the company is moving in a different direction. Maybe the new position affords a more flexible schedule and better opportunities for advancement, or is just a welcome change after working for the same company for so many years. Unless the reason is purely financial, know that a raise won’t address your concerns.

What to do? For information and insights on How to Deal with a Counteroffer and How to Proactively Find Ways to Improve Your Work Situation, visit The Creative Group blog.