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Offers you should refuse?

Document Cited in Related
Vincent
PositionJob hunting

Picture this: you decide to leave your current employer. You start job-hunting, get an interview and receive a job offer with better career prospects, more money and a newer company car. You resign and tell your boss you are leaving because you're unhappy with your job, work culture, colleagues, hours, salary, car colour -- and then casually slip in the fact that you've also got a better offer. He says: "You do such a brilliant job, the company really needs you, if you stay we'll match it -- in fact, we'll even better it." You agree to stay on the new terms.

This employment trend has become known as a counter offer. It may seem a win-win situation for both the employer and the employee -- after all the employer keeps an experienced member of staff, saving time and money on recruiting and training a replacement, and the employee receives more cash and a new job title without the upheaval of leaving -- but counter offers are not all they are cracked up to be. "We have seen a rise in counter offers because most companies are recognising that their best asset is their employees," says Simon Harrington, operations director of recruitment consultancy RK Financial Selection. "To lose an experienced member of staff can have a major effect on the business."

But there are pros and cons to making and accepting a counter offer. The jilted company loses out because it has to start the whole tedious and expensive round of advertising, selecting, interviewing and offering again. This costs serious money in time, resources and productivity. But as the employee, why should you care?

"In business, your reputation can be your most powerful asset. If you back out of a commitment to a prospective...

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