In today’s competitive market you may receive a counter offer which could match the offer you have or significantly increase your current title and/or salary. While counter offers are flattering and tempting, here are a few things to keep in mind and consider when faced with one.
Remember what motivated you to leave
There are usually many factors that lead you to look for a new career opportunity. The reasons and frustrations you had will still be there in the long run as the novelty of a counter offer salary or title increase soon wears off.
Know your value add
Why did you have to resign before you were offered what you're worth? If your current employer only increased your salary because you resigned this should raise a red flag about the mentality of the leadership and/or the corporate culture of the company you work for.
Stick to your guns under pressure
Once you have resigned it will never be forgotten; If you chose to accept a counter offer from your current employer after you have already given resignation your trust and commitment will always be in question moving forward and the relationship dynamics with colleagues as well as management will have changed.
What's in it for them
It is far easier and cheaper for your current employer to retain you than to recruit and train a new employee. Employers often panic when someone resigns, even if they don’t truly value your contribution they may still attempt to keep you to support their business demands and to avoid disrupting their customers.
Burning your bridges
If you accept a counter offer after you have already been thru the entire interview and offer process with your prospective new employer then back out after you receive a counter offer from your current employer you may close the door to that employer indefinitely.
The Boomerang effect
It's widely known and proven that counter offers rarely work out. Statistics show that over 50% of people who accept a counter offer end up leaving anyway within 6-12 months after accepting the counter offer.