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The job market in technology is hot! Engineering, development, product management, sales, and business development, are hot roles in the tech sector and there’s a lot of competition by companies to attract and retain top talent these days.
Even if you aren’t looking for another job, you may be approached with another opportunity. Let’s say you really weren’t looking to make a move but you were polite on the phone, and next thing you know you’re curious about what you are hearing.
An initial phone interview led quickly to a face-to-face, and now you have an offer. It is an exciting opportunity with bleeding-edge technology. You are motivated because of the new company’s work environment, culture, benefits, salary, location, perks, and such so before you know it you’ve accepted the offer.
Shortly after you give notice, your manager makes a pitch for you to stay on and he makes you a sweeter offer than the new company. Oh geez, you are asking yourself “Should I stay or should I go?”
The Clash had it right, (paraphrasing) if you go there may be trouble, but if you stay it will be double. While it is flattering to be wanted, and it is validating to get competing and improving offers, what happens once the dust settles?
What Happens in You Stay?
Most of the time, the work environment is going to suffer; the trust factor cannot be recovered. Your employer is now wary of your motives and your loyalty. When it comes time to build a new team for a mission-critical product launch, will you be trusted to see it through? What happens if there is a change in fortunes at the company and a belt needs to be tightened, who do you think will be among the first laid off? Perhaps your work was critical at the time of your offer and the upper management felt you had to be kept to see it through. What then when the project is done, might the company’s loyalty wane like yours did? When it comes down to it, you kissed another girl and Susie is not going to forget it!Shortly after you give notice, your manager makes a pitch for you to stay on and he makes you a sweeter offer than the new company. Oh geez, you are asking yourself “Should I stay or should I go?”Click To Tweet
Another by-product of this bidding war occurs with your colleagues. Co-workers may know or suspect that you got some sweet deal to stay and they will probably resent you for it. Will your colleagues be supportive and collaborative if they question whether you are one of them? Might some employees try a similar move hoping to leverage an outside offer into better pay where they are, and whether successful or not the human dynamic is certainly going to be affected, and not likely in a positive way.
What Happens if You Renege on the Offer?
And guess what will happen if you stay after accepting the outside offer. You got it, that employer is going to blacklist you. The Recruiter you worked with will never represent you again. And word will generally get around creating a negative perception.
But remember, even if you weren’t initially looking for another opportunity, you did get excited enough to go through a hiring process and accept an offer for good reasons. Perhaps you weren’t feeling appreciated, or you felt you deserved better pay. Maybe you needed a new challenge or work environment. Whatever the case may be, you can’t go back.
The great majority of professionals who accept a counteroffer to stay are gone within a year, whether of their own volition or being asked to leave. So don’t pick up that phone or be ready to honor your word. The answer is don’t take the counteroffer, no matter how sweet.