How to Handle a Counter Offer

What is a counter offer?

In today's competitive job market, finding the perfect job opportunity can be challenging, especially when there are limited positions available. However, some job seekers are determined to find a new role that fulfills their professional ambitions, even while they're still working in their current company. Once they receive a new job offer, they take the leap and move on to their next adventure.

But employers don't want to lose their talented employees and may make counter offers to persuade them to stay. These counter offers can be enticing, offering a chance for a higher salary, better benefits, a promotion, or more job responsibilities.

While it's exciting to receive a counter offer, it's important to take a step back and evaluate all your options. You want to make sure that you're making the best decision for your career growth and overall job satisfaction. So, take some time to weigh the pros and cons before accepting any counter offers. Ultimately, the choice is yours and you should feel confident in your decision.

When to accept a counter offer

Are you considering a counter offer? Don't worry, it's not always a bad thing. There will be plenty of articles out there telling you to hold fire and not say yes. It doesn’t have to be that way, though! In fact, there are some good reasons to accept one. Check out these five examples:

1. You know you won't be staying at your current job for long, but you still want to be paid what you're worth. Maybe you're planning to move soon, or you're just not satisfied with your salary or benefits. A counter offer could be the push your boss needs to give you what you deserve.
2. You weren't even looking for a new job, but a recruiter reached out and you went on an interview out of curiosity. Surprise! They offered you way more money and benefits than you're currently getting. You don't actually want to leave your job, but you can use the competing offer to negotiate a better deal with your current employer. 
3. Your company is going through some changes and you're needed now more than ever, but the policy is to freeze salary increases until the transition is over. Only a competing offer will make them wake up and give you a raise. If they're not happy about it, that's their problem – you deserve to be compensated fairly. 
4. Your job is so unique that nobody really knows how much it should pay. You've done your own research and found that you're being underpaid. You get a job offer that pays much more, and you can use it to show your boss what you're really worth.
5. You just have a gut feeling that accepting the counter offer is the right move. Trust your instincts and go for it!

Once you've accepted the counter offer and committed to staying, why not take things a step further and plan out your future growth within the company? Create a roadmap of the projects you want to tackle over the next year and share it with your boss. It's a win-win situation – you get to develop new skills and your boss gets an employee who's invested in the company's success.

How to negotiate a counter offer

When it comes to negotiating a counter offer, you're in the driver's seat, and that means making decisions that are right for you. So, you've been offered a counter offer from your current employer? Don't be caught off guard! Take a deep breath and give yourself some time to think it over.

First, think back to why you started job hunting in the first place. Make a list of what you're looking for in a new role. While salary and benefits are important, consider other aspects like workplace culture, supportive management, and career growth opportunities.

Next, schedule a meeting with your boss to discuss practical actions they can take to convince you to stay. You have the upper hand with another job offer on the table, so don't be afraid to negotiate! A good employer will offer more than just a bigger pay check. They'll show a genuine commitment to address the issues you've raised.

For example, if you're feeling unchallenged and bored in your current role, your boss can work with you to revise your duties and responsibilities and develop a long-term career plan. That's how you know you have a keeper!

But if you and your manager can't come to an agreement, that's okay too. You have an exciting new opportunity waiting for you, and it's time to take the leap. Trust yourself and take control of your career path. The sky's the limit!

If you’re in need of guidance when it comes to finding the right role and figuring out how to handle a counter offer, the best thing you can do is to contact our team of talented WOWzers. We’re here to help you to work through your next stages!