The path to the top in your Tech career will contain different arcs. From the size and type of companies you choose to work with to the different areas you want to specialise in – there are a lot of options to consider.
With the Tech sector expanding as it is, there is an abundance of roles for talented individuals. This is great for those wanting to explore different career opportunities, but the choice can be overwhelming.
How can you decide which employment opportunity will be beneficial to your career in the long-run? Which companies should you choose to stay with, or move on from?
As Tech recruiters, we work with employees of all levels to help them make the right career decisions to progress their careers.
Throughout your Tech careers, you might be met with a counteroffer from your employer upon accepting a new role. Today, I want to discuss counteroffers, and their potential to impact on your career.
Why Do Employers Give Counteroffers?
A counteroffer is a bargaining tool used by employers to try and get their best employees to stay in their role rather than move onto a new opportunity.
This can be confusing for the candidate, who quite often by this point in the recruitment process is emotionally ready to move on from their current position.
The counteroffer usually focuses on salary. Often an employer will offer more money to persuade an employee to stay. The offer of a higher salary can be a complex and loaded compromise, and how to navigate this, I will discuss a little later.
Is accepting a counteroffer ever a good idea for your career? Let’s look at some stats.
What the Experts Say
In a recent survey, nearly 40% of senior executives and HR leaders agreed that accepting a counteroffer from a current employer will adversely affect your career.
However, 78% of senior executives and 80% of HR leaders state that sometimes it’s a good career move to accept a counteroffer. So the reality of the situation is that it’s not a simple yes or no answer.
The same survey, however, found that when presented with an open-ended question about under which circumstances employees should consider accepting a counteroffer, senior leaders were unable to give precise definitions.
Let’s take a look at the factors which you, as a Tech employee, should consider when presented with a counteroffer.
Career Prospects
The competition for Tech talent has never been more fierce, and as an employee, you are in the enviable position of being able to decide where you want to go in your career. Traditional organisations who are branching out into Tech or faster-moving tech companies can provide very different career paths depending on what you want out of your role.
If you want to be part of an exciting, innovative start-up, the career prospects might be less apparent or dependable, compared to an established organisation. But the latter might be able to offer you a higher salary package – it’s about figuring out what you want from your career.
If a higher salary is the reason for your application to a new position – let’s take a look at how vital the remuneration is in the counteroffer.
Remuneration
For Tech candidates, applying for, and accepting a new role is very rarely about the money.
Think about why you wanted a new position in the first place. Was your previous job unfulfilling? Had you outgrown it? Were you looking for a more innovative company?
It can be tempting to say ‘yes’ to a counteroffer when your employer offers more money, but remember – it took for you to look to leave before they upped their remuneration.
If you genuinely love the role and believe you are being underpaid, and have been unsuccessful in salary negotiations – this is when you should consider the counteroffer. A helpful piece of advice is to think about where the role could take you in 12 months – if you see yourself on the same level without having progressed, is the extra salary going to be worth it?
Potential Repercussions
Finally, I want to share with you a point to remember about the repercussions of accepting a counteroffer.
Once your employer knows that you have been job seeking and that you were prepared to leave your role, this can cause tension.
There will likely be diminished trust between yourself and your employer, which can lead to a breakdown in working relationships.
71% of senior executives said they would question an employee’s loyalty going forward after an accepted counteroffer. Sometimes employers extend a counteroffer purely for damage limitation. They might want to stall you from leaving, even though they believe that you are mentally and emotionally ready to move on. Your managers might feel betrayed, and you might be left feeling blackmailed into staying – this does not make for a cohesive team.
If you are looking to apply for a new Tech role, we can help you navigate any potential difficult counteroffer situation. Take a look at our current vacancies here or get in touch with our team to find out how we can assist you in your job search, with everything from arranging interviews to negotiating to get you the best job offer.