When you decide to change job, the fact is that it’s a hassle for your employer to recruit a suitable replacement.

Quite often they’ll do all they can to retain someone who looks as though they’re about to leave: eleventh-hour pay rises, increased benefits, title changes and promises for the future can all be held out as an inducement not to go.

Or they may employ subtler tactics, ramping up the emotional and psychological pressure. The push and pull is designed to make it very tempting for you to back down.

7 reasons not to accept a counter-offer

  1. Your employer knows you’re not happy in situ and your commitment will always be in doubt. When promotion time comes around, they’ll remember who is loyal and who isn’t, and when times get tough, cutbacks risk starting with you
  2. There’s a reason why you chose to leave – and outside of compensation, that probably hasn’t changed. Worse than that, accepting a counter-offer is basically acknowledging that you don’t know what’s best for your own career development
  3. Accepting a counter-offer is a blow to your personal pride, knowing that you’ve been ‘bought’. Besides which, where is the money for the counter-offer suddenly coming from… is it a pay rise you’d have got anyway? And why didn’t they offer you it before… was it because they didn’t think you were worth it?
  4. A rule of thumb among recruiters is that 80% of those who accept counter-offers decide to leave – or are terminated – within six to 12 months. And half of those who accept counter-offers realise within 90 days that they really do want to leave after all and restart their job search
  5. Unfortunately, accepting a counter offer means burning bridges with the company you just interviewed with. Yesterday you were excited by the company, the new opportunity and a fresh start – but today you have to give them the bad news. That won’t go down well given that they’ll have already started to plan for your start and have got excited at having found you
  6. A counter offer is all about the manager and company – and not about you. What type of a company do you work for where you have to threaten to walk off before they give you what they’re supposed to think you were worth all along?
  7. And why is the company paying it to you now? Answer: because it’s easier and cheaper for them to keep you on while they sort the problem out

These are all logical reasons to stand firm and resist a counter-offer. However, reason can go out of the window if your boss goes on a charm offensive…

5 tactics to keep you where you are

  • “I’m really shocked. I thought you were happy. Let’s discuss it before you make your final decision…”
  • “I’ve been meaning to tell you about the great plans we have for you but it’s been confidential until now…”
  • “We have you in mind for some exciting new responsibilities in another department…”
  • “We were going to give you a pay rise next quarter. How about we make it effective immediately?”
  • “I’m very disappointed you’re leaving at such a busy time. Can’t you see the impact your departure will have on everyone else in the team?”

Think about what’s best for you

Let’s face it, unless you’re really incompetent, when someone quits it’s often also a reflection on the boss and his or her departmental management skills. If you’re going to leave they’ll want it to be on their terms, not yours.

The moral of this story? You and only you are in charge of your career and know what’s best. Counter-offers nearly always end in tears. They’re designed for the benefit of your old firm and don’t have your best interests at heart.

So grab opportunity while you can. Move on to greener pastures.

If you are a lawyer or chartered accountant and interested in working in the Bermuda/Caribbean region, visit our jobs portal to see the latest vacancies. Our site also includes a downloadable All You Need to Know guide which will tell you all you need to know about living and working offshore.