“As we are experiencing the ‘Great Resignation’, many people are re-evaluating what they want in a job and where they are doing it. Companies are trying to keep up with the trends as well. We are updating one of our past entries with some additional information related to current hiring trends.”
Nowadays, there’s a lot of competition in the IT job market; everyone’s vying to get the job of their dreams and even those who have stable jobs are constantly on the lookout for a better job opportunity. However, despite the hustle bustle of the job market and the allure of a new job, IT employees usually tend to stick with their existing jobs.
In fact, the average tenure of an IT software worker is 46 months. So, how does the software sector have such a good employee retention rate? For one, job searching is an arduous and time consuming process. Secondly, it’s difficult to leave your job benefits, security, and workplace culture for an unknown future. Lastly, it all comes down to irresistible counter offers!
Many people who want to leave their current workplaces actually end up staying at their jobs due to lucrative counter offers. However, it’s not always a good idea to stay at your workplace because of a solid counter offer. There are plenty of reasons why it could completely backfire for you.
So, without further ado, let us discuss the various reasons why you might regret taking a counter offer from your employer.
No Trust Left
Choosing to stay at your current workplace after you have accepted a counter offer can backfire. Your employer already knows that you were unhappy and hunting for a new job while working for them. They might feel betrayed and you might end up losing their trust.
Having an untrusting employer will make things difficult for you in the long run. They might have a negative bias toward you, which could then impact your future prospects negatively. The next time your company has to lay off employees, your name could make it to the top of the list since your employer now thinks you are disloyal.
You Should Not Have to Quit to Get a Raise
The fact of the matter is that you should not have to quit your job in order for your employer to improve your job conditions – be it a raise, a friendlier work culture, or a deserving promotion. If your reason to quit your job is to get a higher salary and your employer offers to match it, you should try not to fall into that trap.
You don’t want your employer to think that as long as they keep offering you more money, they don’t have to take care of or listen to your other concerns or demands. Also, remember that your employer is not thinking of your interest when you tell them that you want to quit. They are solely scrambling for ways to keep you with them since hiring and training a new employer will eat up their time and cost them more money.
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You are Their Stopgap
If you happen to be working on an important project and decide to quit your job in the middle of it, it is highly likely that your company will provide you with a counter offer since they see a lot of short-term value in your presence. Now that your employer knows you are on the lookout for a new job, they are probably doing the same with you, i.e., they are now looking for someone to replace you with!
You are simply a stopgap for them— they are going to keep you till your project is over, and then they will probably replace you with someone new. So, try not to assume that you have some long-term value to them, especially not after you have made your intentions of quitting quite clear to them. Plus, you lose your bargaining power and upper hand once you decide to accept the counter offer.
It’s Only a Short-Term Solution
Counter offers are usually only short-term solutions. You can’t erase all of your existing concerns with your workplace simply because you got a good counter offer. You already know all of your reasons for quitting, and you also know that they are being temporarily addressed simply because your employer wants you to stay with them.
Plus, you probably have long-term career goals that are not fulfilled by your current job. A counter offer with a better salary package might seem like a good choice in the moment, but it won’t help you out with your long-term planning. So, it’s always better to think of all the legitimate reasons for quitting and leave your job on your own terms rather than to accept a counter offer with fleeting benefits.
Although staying in your comfort zone and accepting a lucrative counter offer from your employer is definitely the easier choice, don’t forget your reasons for wanting to move in the first place. You will only end up regretting your decision down the line, so make sure to take your time and consider every factor before you decide to accept or deny your employer’s counter offer.
Are you finding it harder to locate the good technical and IT talent? Many companies find them selves in the same situation. There are some better ways to locate and attract the right it and technical people to your company. Contact us to learn more.