Counter-offers are often referred to as buybacks, it's every recruiters/client’s nightmare!!
And it’s also the candidate’s nightmare and here’s why…
The acceptance call
Great, you have been offered the role and you’ve accepted. You are delighted that after all the time and effort, from the first stage interview to the last final hurdle. Your hard work has paid off, the jobs in the bag, but is it?
Get ahead of your counteroffer
You’ll already have an inkling that you will be bought back from your current employer, so you have time to think about negotiating with them.
You already know you want to leave, you’ve been thinking about it for a while, so why take the Buy-Back?
Take a moment to think if you’re tempted to accept it; after all, they must really appreciate you to tempt you to stay, right?
What happens when you resign is that your manager panics. The easiest and most cost-effective way of solving this problem for them is to throw some money at the situation. After all, they will have to recruit a replacement, bed them in and train them. That’s a problem.
What’s stopping you?
As expected, you’ve been bought back, but something inside you is just telling you not to take it. Why is this?
This is because the reason you’re leaving is never about money. Maybe you’re leaving because the company’s values don’t match up with yours, you’re not being challenged enough, you don’t respect your Leader or there is no apparent career progression.
Listen to your inner self. Is money, promises of change or career progress really going to solve your problems - and most importantly will these promises be delivered?
You’ve taken the counter-offer…
You’ve taken the buyback. After all, it is really tempting and this could be good a good thing if you’re looking for more money, but what a process you’ve gone through to up your salary! Are you going to have to do this every time you feel you are not appreciated enough?
Resigning is a big thing
It can be stressful to resign from any job, even one you’re not particularly fussed about, but nonetheless, it’s still stressful. We know it can be uncertain especially if you haven’t moved job before.
Take a minute, think about why you're leaving - weigh it up and remember; you spend most of your time at work. You need to make sure it’s right for you.
The bottom line
Think about trust - does your manager still fully trust you? After all, you’ve tried to leave. This may damage that trust and further down the line. That’s never a good place to be.
Buybacks are like putting a plaster over a broken arm: it’s still broken regardless of whether you’ve covered it up.