Undertrained? How to Take Charge of Your Professional Growth
November 14, 2024
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This post was originally published in May 2021 and has been updated for freshness, accuracy, and comprehensiveness.
So, you found yourself a great career opportunity—or maybe this amazing job offer found you! You are excited about taking the next step. But just as you are on your way out of your job, ready to say goodbye to your coworkers, your current employer draws its secret weapon, the counteroffer, leading you to a professional dilemma: Should I accept it?
It’s possible that you didn’t even think you would receive a counteroffer, and you’re now questioning your entire decision, or maybe that’s exactly what you were hoping for. Either way, the question is: How do you evaluate and respond to the counteroffer from your current employer?
The strict meaning of a counteroffer is a new proposal made by an offeree in response to an initial offer that usually comes with additional or differing terms. In the corporate world, a counteroffer is a response from your current employer to your resignation or exit to another company in an effort to retain you.
Another common application of this concept in the job search is during the salary negotiation process. Suppose you receive a lowball job offer from a potential employer; you can either deny the initial offer and wait for a better one, or step forward and make a counteroffer to find common ground between their compensation expectations and the company’s budget.
Depending on the scenario, the purpose of a counteroffer will vary. From a candidate’s standpoint, it’s to take an active role in reaching a satisfactory agreement. At the same time, for high-performers with job offers from a new company, it may seem like a desperate move from their current employer, but in this case, what’s behind taking or declining a counteroffer?
While some publications will tell you that you should immediately turn down a counteroffer, you have to keep in mind that your situation is unique, and you should treat it as such.
Despite the common belief that accepting a counteroffer can be detrimental to your career goals, out of the 73% of employees who received and accepted a counteroffer, 94% stated that their relationship with their employer was either the same or better after it, as they ended up staying for three and a half years on average.
So, start by being honest with yourself. Even if you weren’t looking for this new career opportunity, were you thinking about leaving anytime soon? Some people feel stuck but don’t really take action until an outstanding opportunity comes along. Others are unsure what’s bothering them but hope that starting a new job will be the answer.
Now, something led you to take a job offer somewhere else. Pinpoint each cause for your decision. Is it a lack of work-life balance? Are you looking after your career progression? Do you find yourself in a toxic work environment? Have you asked for a promotion before but never got it? Write it down so there’s no confusion in your choice-making process.
Counteroffers from a current employer are tricky, especially when you’re not expecting them. Your boss will likely catch you off guard after you’ve given your two-week notice. Hopefully, you won’t have to give an answer right away because that’s how a lot of employees end up giving part of the negotiation away.
Let’s be real for a second. You probably should have given some thought to your reasoning way earlier in the process. At the very least since before you started the interview process with the new company.
If you have a recruiter working with you, you probably have this clear from the start. But let’s say you found the job on your own or got word from a friend; you need to prep yourself to make sure you’re ready for a counteroffer from your employer and ultimately making the right move.
Keep in mind that a counteroffer won’t only modify your compensation agreement, but it might also change your responsibilities and performance expectations. Whether your counteroffer comes in the form of a promotion or just a salary raise, it will most likely come accompanied by additional duties.
If the new compensation meets your expectations, but the goals and standards you’ll be put up to the test are unrealistic, you’ll find yourself in a more demanding and nerve-wracking position than you were before you received the counteroffer.
No matter how attractive a counteroffer may sound, if you are aware that you were leaving because of a stressful work environment or because there have been incidents with your boss or coworkers, no offer will change that. This negotiation is meant to change things for you, but not the workplace.
Unless your boss recognizes the issue and commits to taking the right measures, this scenario you’ve been dreading will stay the same. Hear what they have to say about that, but don’t forget that your mental health is not up for negotiation.
If the reason for leaving your current role is strictly related to putting yourself on track for a management position, there’s a chance that the counteroffer you’re receiving from your current employer includes an advancement proposal.
Suppose the initial counteroffer doesn’t include any aspects related to your growth. In that case, you can use this opportunity to speak about your role in the company and ask if there’s a development plan for you. If your employer’s response is positive and convincing, be sure to request it to be included in the written agreement.
So, the counteroffer you received is below your expected salary? There’s a chance you can negotiate the terms so they align more with your preferences, and your employer’s willingness to work out the counteroffer details can be seen as a sign of how much the company wants to keep you.
If you get to renegotiate the terms of the counteroffer, don’t be afraid to ask for compensation that aligns with the value you bring to the company, whether it’s more money, remote work, or any other corporate perk. Keep in mind that your request will be paired with your responsibilities and efforts to increase your skill set.
Truthfully, it will mainly depend on whether the counteroffer from your employer lives up to all your expectations; if it does, sure, why not? But if you’re having second thoughts, feeling a backlash will come after you accept it, or simply think you won’t be comfortable again in your current role, then the short answer is no.
If you get into a negotiation stage, the way the situation develops will give hints to make up your mind. So, before you give anything away, listen carefully to what they are saying to understand where they are coming from and what they are offering.
Maybe your main reason to go was that you wanted to spend more time with your family, not necessarily make some extra money. Think about their new offer and if it addresses your reasons for leaving. If the offer matches your concerns, it means that at least your boss heard you and understood where you were coming from when you decided to leave.
Whether you decide to accept or decline the counteroffer, there’s a few good practices you should follow to keep your reply professional and polite, especially if you plan to move on to a new position and leave your current employer under good terms.
If after evaluating the counteroffer, you still feel that moving into a new company is the best way to go, you should decline the counteroffer without burning bridges with your current employer. Remain polite in your response and show your willingness to make the transition as smooth as possible. Follow these tips and check out our counteroffer response letter sample:
Dear [employer’s name]
I appreciate the counteroffer you’ve made me and the time you’ve invested into hearing my concerns. Unfortunately, I’ll have to turn it down as I’ve already come to an agreement for a new job position. My best interest is to move on to a new challenge and the job offer I’ve received meets this expectation.
However, I want to commit with you to make all within my scope to make the transition as easy as possible, including any assistance you may need in training any replacement you choose.
Thank you for understanding my reasons and I wish you a successful future.
Sincerely,
[Your name]
On the other hand, if the counteroffer from your current caters exactly to what you were struggling with and you can stay there for the long run, then maybe you could accept. Just don’t do it right away!
Keep in mind you’ll have to let the prospective employer know you’re declining their offer, so you’ll have to gain some time to deal with that situation first. Say to your current employer how much you appreciate them making the counteroffer and that you don’t want to play around, so you’ll think it over then give them an answer.
Once you’re ready to reply and accept the counteroffer, follow these best practices and use our letter example for rejection a counteroffer as an example.
Dear [employer name]
First, I want to thank you for presenting me with a counteroffer after I let you know about my resignation. I appreciate the effort and time you’ve put into the negotiation of the terms.
After consideration, I’ve decided to accept the counteroffer. I’m aware of the challenge my new duties represent, as well as my responsibility to contribute to the company’s success. Please let me know if I need to fill any paperwork to move forward and assume this new role.
Thanks again and I look forward to continue my professional development with the talented team of [company name]. Sincerely,
[Your name]
In the end, your decision should only obey your goals and needs. Ask yourself, are you really done with the new career opportunity? Were you excited to start working with this other company? Is the counteroffer a match to what you are getting from this new job?
If you were already on your way out, don’t just let go of what you had already deemed as a dream job. In the end, just make sure you know what you want and be confident in turning down what you don’t.
Contributed by Monica Martin del Campo, Mary Dominguez, & Luis Arellano
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