Nearly all IT careers begin in a permanent employment position, as opposed to jumping right into the market as an independent contractor. Naturally, then, at some point you’ll be in a situation where you land a new job, either as an employee at another company or as a contractor, and the time comes to tell your current boss you are leaving. It’s something that most people dread. Upon giving your notice, what happens if your company comes back with a pay increase and/or a promotion? Most people’s first thought is “Wow, I’m really valued here and they’ll do whatever it takes to keep me”. But before accepting that counter offer, be sure to consider all of the facts and do your research!
There are a plethora of articles out there explaining the reasons that accepting a counter-offer is equivalent to corporate death. Statistics prove that “over 80 percent of people who accept counteroffers either leave or are let go within a year.”
It’s important to ask yourself some important questions. Why were you willing to leave in the first place? What has changed? If it was strictly compensation, it’s possible that a counter-offer makes sense, but in the vast majority of situations there are other factors at play that just aren’t resolved by earning additional pay. If you are truly a valued employee, why did it take you almost walking out the door for them to pay what you know you are worth?
In many cases, an employer will be scrambling to backfill a position within your 2-week notice period and there will inevitably be gaps that will impact their business. By offering a nominal increase to keep you, they may be ensuring they are covering their bases but working towards replacing you on their own timeline. The other important factor is that you will always be the employee who wanted to leave, so if there is a restructuring, your name will likely be the first on the chopping block.
Be sure to carefully consider all of the aspects of consideration before declining that new opportunity and be sure you are doing what is right for your career in the long run.