After months of job hunting and attending interviews, you’ve finally landed a work from home job.
However, as you submit your resignation letter, your employer suddenly hits you with an uno reverse card – a counteroffer.
Should you accept their counteroffer or not?
Unlike previous generations, younger employees aren’t as averse to job hopping.
With so many opportunities today, why settle for a job that pays less or gives fewer benefit
That said, there are times when accepting your current employer’s offer is the smarter option.
To help you decide, here are the pros and cons of accepting a counteroffer so you can weigh your options better.
What is a Counteroffer?
A counteroffer is a response given to an initial offer being rejected; in this case, it’s done by an employer to retain an employee about to resign.
Employers offer these to retain top talent, reduce overhead costs, and maintain continuity within their team.
Counteroffers typically include better pay, more benefits, adjustments to their current responsibilities, or even a promotion, in some cases.
The Pros of Accepting a Counteroffer
Here are some factors that would make a counteroffer hard to turn down:
A Competitive Salary Increase
One of the main reasons employees change jobs is to get a higher salary.
Filipinos are no strangers to financial difficulties, but times are even tougher today due to inflation.
Thus, to make ends meet, some have to work multiple jobs or, more typically, find one offering a better deal.
However, if you receive a counteroffer that’s significantly better than the other company’s, and with very little added responsibility to boot, it may be worthwhile to stay.
Potential for Career Advancement
Alongside better pay, your employer may also offer a promotion. This is perfect if you feel stuck and want to ascend the corporate ladder.
Besides a direct promotion, your employer can also offer additional training to further enhance your skills and leadership potential.
Thus, if you’re looking to hone your skills or gain a higher position, accepting a counteroffer can have a positive impact on your career advancement.
Familiarity With Your Role and Work Environment
Many self-proclaimed career gurus and influencers tell us that ascending the career ladder is the only way to success.
However, there’s also comfort in the familiar.
Accepting your current employer’s counteroffer spares you from the stress of adapting to a new work culture, co-workers, and boss.
It can also lead to more job stability and security. During this time of uncertainty, having a stable income is a great blessing.
The Cons of Accepting a Counteroffer
Although accepting a counteroffer has its benefits, it can also have negative consequences.
Here are some of them:
Trust Issues Between You and Your Employer
A common consequence of accepting a counteroffer is the loss of trust between you and your employer.
From your perspective, your employer suddenly offering all these benefits when you’re about to leave will make you question their motives for doing so.
Do they truly value you, or do they just want to avoid having to find a replacement? In some cases, they may not even follow through on their promises to you once you stay.
On the flipside, accepting a counteroffer could make your boss question your loyalty to the company.
They may have kept you from leaving today, but what’s going to stop you from jumping ship once another offer appears? This could make them hesitate about investing in you in the future.
Missed Opportunities
As they say: “You miss every shot you don’t take.”
Opting to stay may cause you to miss out on exploring new fields within your career, honing new skills, and growing your network.
Damage To Your Reputation
You’ll often receive a counteroffer after you’ve already got a job offer from a different company.
Accepting it will cause the other company to hesitate considering you if you apply to them in the future.
This can have far-reaching consequences on your reputation, as other companies may also hesitate to hire you once the word spreads.
A Bigger Reason for Wanting to Leave, Besides Money
A higher paycheck isn’t the only reason people leave their current jobs.
Maybe it’s because they already feel bored and stagnant in their current job.
Or, perhaps their workplace has a toxic work culture.
Before you accept a counteroffer ask yourself: is a higher paycheck and more vacation time really worth working with a toxic boss?
How to Weigh Your Options
Still stuck on whether you should accept your employer’s counteroffer or not? Here are some tips that can help:
Assess Your Motivations for Leaving
Start with reflecting on why you wanted to leave in the first place.
Did the counteroffer address these reasons?
If they didn’t, then it’s best to proceed as planned.
Check Your Long-Term Career Goals
Don’t forget to consider your long-term career goals.
Whatever your decision may be, it should align with how you want your career to look in the next five to ten years.
Does the new job offer the opportunities you need to meet your career goals? Or would your current job be much better for your career in the long run?
Thoroughly Evaluate the Counteroffer
Before agreeing to anything, compare your employer’s counteroffer with the new job offer.
Aside from the salary, look at benefits like vacation leaves, work-life balance, and schedule flexibility.
In addition, compare the work culture and growth opportunities between the two and select the one that suits you best.
Don’t Be Afraid to Ask for Advice
If you feel stuck, you can ask your trusted co-workers or mentors for help.
Their insights could help you make a better-informed decision.
To Stay or Not to Stay?
Deciding to accept your employer’s counteroffer or not isn’t always an easy one.
Fortunately, by knowing more about the pros and cons of accepting a counteroffer, you’ll have an easier time making the right decision.
Still looking for a new job that offers an online work from home option? Remote Staff is here to help.
Our jobs list contains plenty of positions for you to choose from.
These range from the usual virtual assistant jobs and online transcription jobs to online writing jobs, online design jobs, and many more.
So, what are you waiting for? Sign up here today. Good luck!
