Counter offers: what should you do?

Ever dreamed of handing in your notice at work, only to be begged to stay? Perhaps with your manager in tears as she slides across a big fat cheque across the table and tells you just how much she always loved your work (but could never find the words to actually tell you).

Okay, sure, it might not happen exactly the way you planned it in your head, but it’s certainly not unusual for an employer to make a counter offer when they’re at risk of losing a prized asset. Especially considering what it’ll cost them in recruiter fees and arranging cover for your position if you leave.

So if there’s a part of you that wants to stay, a counter offer puts you in a good position to negotiate a better deal for yourself. But bear in mind the following:

Know your worth. If you’re asking for more money, do your research. Make sure you’re not asking for more than the market value of your position. You can do this simply by looking on jobs websites and contacting recruiters.

It’s not all about money. Ask yourself why you were looking for another job in the first place. If your current position hasn’t been fulfilling your needs, make sure to address those issues in any negotiations to stay. A bigger salary is great, but if you’re still not happy in the role then you’ll probably be looking to escape again in the next 6 months anyway. Be sure to discuss with your manager how they see your future, possibilities of promotions, more flexible hours, greater responsibilities – and ensure these aspects of the new role line up with what you want.

Be practical. Okay, so the heart wants what the heart wants, but sometimes it’s smart to remain at least a little practical. Are you currently applying for a mortgage that would require you to have been in a job for more than 3 months? Is your current commute a good one or does the new job give you the chance to avoid spending 2 hours a day stuck in traffic? Most importantly, which of the two roles is best for your long-term career?