WORKING ACROSS THE ENGINEERING AND CONSTRUCTION INDUSTRIES, THERE IS A CLAMOUR FOR TALENT THAT POSSESS THE RIGHT SKILLS FOR A VARIETY OF ROLES. WITH UNEMPLOYMENT AT ALL TIME LOWS AND TALENT GETTING EVER HARDER TO ATTRACT, ENGINEERING AND CONSTRUCTION COMPANIES ARE LOATH TO LET THEIR BEST PROFESSIONALS LEAVE AND IN MANY CASES ARE KEEN TO ADD ADDITIONAL TALENT.
Something we see more and more of in candidate driven markets such as Engineering and Construction is the curve ball of a ‘counter offer.’
Should you be in a position where you receive a counter offer from your employer when moving to a new employer, ensure you consider these very important factors:
1. Why did you consider leaving your company in the first place?
It could be for a number of reasons such as salary & package, work environment, company culture, quality of life – the list goes on. Now did you really go through the entire application process for a new company only to stay where you currently are? Yes it can be appear the grass is always greener on the other side but it’s really important to consider your original reasons for leaving in the first place. If they’re deep rooted, a pay increase or a few extra days holiday likely won’t change your perception long term.
2. Will your counter offer raise more questions?
It will be cheaper for a company to keep a current employee than it would be to hire and train a new employee. Your employer may now be happy to increase your package but you need to ask yourself:
Why didn’t they do this before?
Have they only just realised your value now?
Will they be left short of talent without you?
Is it going to be a short term fix?
Research suggests that those who accept a counter offer find themselves back on the market looking for a new role with 12 months according to LinkedIn:
“Without even looking at the relative merits of an offer, the counter offer statistics show that 80% of people who have accepted a counter offer will not be at their current employer in six months and 93% will not be there in eighteen months’ time.”
3. Has loyalty and trust been broken?
It’s likely at this stage that some form of trust will have been lost from both you and your employers perspective. You’re employer is now very aware of your dissatisfaction and that you had follow some serious processes to leave your company.
Do you think you will be viewed in the same light when it comes to promotions?
Will they spend the new few months safe guarding themselves being put in this position again?
4. Will my professional reputation be damaged?
Say you’ve accepted the new role, but then accepted the counter offer. You’re not likely to be viewed positively by your potential new company. You could well find it difficult dealing with your potential would be employer in the future.
Moving jobs is by no means a straight forward task and should be given due care and consideration but should you be in a position where you’ve been given a counter offer – make sure you truly evaluate why you’re at a counter offer stage already.