Should you accept a counter-offer? 5 things to consider before deciding

Receiving a counter-offer can be flattering. You've handed in your notice, only to be met with a proposition; a salary increase, a promotion, or better benefits to entice you to stay. But before you accept, it's important to pause, reflect and think carefully. 

Counter-offers are common in today's competitive job market, especially in professional services where skills are in high demand. However, accepting one may not always be the best move for your career. It's important to consider whether the counter-offer is going to be of value to you. 

Here are five factors you can consider before making your decision. 

Understand why you got a counter-offer 

When an employer extends a counter-offer, it's not always purely about your value to the business. Sometimes, it's more convenient and cost-effective for them to retain an existing employee than to recruit, hire, and train a replacement. 

Ask yourself: 

• Are they recognising your value now because you're leaving? 
• Will this change last, or is it a temporary fix? 

Understanding their motivation is crucial to assessing whether the offer is truly in your best interest. 

Key factors to consider before accepting 

1. Trust and loyalty issues 

Once you hand in your notice, the relationship with your employer can change. Trust may be compromised, particularly now that your employer knows you have gone through a recruitment process in search of new opportunities - you may be seen as disloyal within your company. In a competitive market, this can have a detrimental effect on your professional reputation and future progression.

Consider: Will staying affect how your loyalty is perceived long-term? 

2. Long-term career 

A counter-offer might resolve your immediate concerns (such as salary), but what about your long-term aspirations? 

Ask yourself: 

• Are there clear opportunities for progression?

• Will you have access to training and development?

If your initial reason for leaving involved stagnation or lack of growth, a pay rise alone may not resolve the underlying issues.

3. Workplace culture 

Workplace environment is often a significant factor behind job changes. If culture, management style, or team dynamics were reasons for your move, it's unlikely a counter-offer will improve these. 

Reflect: Can the work environment realistically change, or will the same issues persist? 

4. Salary vs. job satisfaction 

While a salary increase is tempting, job satisfaction extends beyond financial rewards. It's about feeling valued, challenged, and engaged. Take into consideration, is the new offer of employment worth missing if your current role doesn’t deliver on its promises?

Evaluate: Will a higher salary make you overlook the reasons you wanted to leave in the first place? 

5. Your worth 

If it took a resignation letter to be paid what you believe you are worth, then why were you not paid this before? Remember, on average it costs thousands to recruit and train a new employee. It is much more cost-effective for a business to offer you more money, than to recruit to backfill your position. 

Counter-offer decision checklist

Before you decide, run through this quick checklist:

• Have you outlined the reasons you wanted to leave initially?

• Will the counter-offer address your concerns beyond just salary?

• Do you trust the promises being made?

• Have you considered your long-term career goals?

• Are you accepting the counter-offer out of fear/apprehension or genuine excitement?

Need more advice? 

Research consistently shows that accepting a counter-offer often leads to regret. Studies suggest that 60% to 80% of employees who accept a counter-offer leave the company within six to 12 months. 

The decision around accepting or declining a counter-offer should be taken with careful consideration and ultimately, the choice has to come from your own personal motivation on what you want next for your career. Our advice would be to have an honest conversation with your manager, and be truthful about your motivations for wanting to leave. If you do look to accept a counter-offer, ask questions to ensure the validity of the offer and always be transparent with both organisations.

If you are considering new opportunities within the professional services sector please contact us to find out more about opportunities in your region. Alternatively, browse through our latest roles.