Counter offers within IT Recruitment and why all that glitters is not gold.
It is not uncommon in the IT industry for employees to receive counter offers when they resign. But Impact IT, a specialist IT Recruitment Agency warns of the potential risks of accepting.
You may have been actively looking for a new job or perhaps you were approached by an IT recruitment agency. Either way you will have your reasons for considering a new opportunity and attending interviews. By the time you resign you will no doubt be excited about your new job and mentally ready to leave your old one. During this process your IT recruitment consultant will have prepped you for interviews and negotiated the best possible salary for you but it’s not unusual for your existing boss to make you a counter offer.
The IT industry is competitive and if you are good at your job and a skilled professional the chances are your employer will take measures to convince you to stay. The truth is that offering you a pay rise is less expensive than recruiting a replacement and the down time experienced during the handover may also be costly to your employer.
Your existing company may offer a pay rise and increased benefits or titles. They may make promises about the changes they are willing to make to keep you. However, you should first consider that 50%-80% of those who accept counter offers move on within 6 months and there is evidence to suggest that many of the remaining 20% – 50% are forced to leave involuntarily within 12 months.
Despite the attractive counter offer, your existing employer might regard you as a ‘problem employee’ and although you may have been offered a quick fix, you are less likely to receive promotional opportunities and pay reviews going forward.
Here are 10 reasons why IT recruitment agencies everywhere say counter offers should be approached with caution.
- Your boss now knows you aren’t happy and your commitment may be questioned.
- Accepting a counter offer suggests you are motivated solely by money and it’s no longer wise to invest in your training and development.
- You are less likely to be given promotional opportunities.
- If the market changes and your company suffers cutbacks you are more likely to be at risk.
- If your employer offers new opportunities to other colleagues or even tries to let you go in 6 to 12 months it will be hard to defend your position.
- A counter offer rarely changes the factors that drove you to look elsewhere.
- If you had previously asked for a pay rise and been refused it indicates your company only values you when faced with the cost of replacing you.
- Where will the budget for your counter offer coming from? Will it be from next year’s pay rise?
- Are you missing the chance of working for a new and exciting company with a boss who values you?
- A good opportunity which is available today may not be available in 12 months time. Don’t miss out.
Talk to your IT recruitment consultant before you accept a counter offer. If they feel the offer is valid they will go back to their client and attempt to negotiate a matched offer. If your recruitment consultant is unwilling or unable to do this for you then seriously question the merits of your existing employer’s actions. “All that glitters is not gold” and an unrealistically high pay rise and over inflated promises can spell problems for your future with the company.
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