It took months of searching, applying, and interviewing, but you’ve finally received an offer for an exciting new opportunity. You turn in your two weeks’ notice to your employer, only to be to not make any decisions yet. Soon, you’ve received an unexpected counter offer that leaves weighing the pros and cons.
On one hand, it’s easy to stay at a job you know then go through the adjustment period at somewhere else. You know the quirks of your co-workers and how to do your job here. You get a boost in salary without making any major transitions. Plus, it shows how valuable you are.
These all seem positive initially, but here are some counter offer statistics that might change your mind:
Half of all candidates receive a counter offer
This doesn’t mean you weren’t an extremely valuable member of a company, only that it costs less money to pay someone more than bring on a new employee. Replacing a senior executive, for example, can cost up to 213% more.
57% of employees will ultimately accept the counter offer
In theory, this seems like a good number. If you take your company’s offer, you’ll be with the majority who decided staying was better than going. Let’s go into how many eventually leave again anyway.
Half of candidates that accept a counter offer begin searching again after two months
There was a reason you started searching for a new job before, and unless it was strictly about the money, it’s likely the same feelings of being discontent and dissatisfied will reemerge.
80% of employees who accept the counter offer will leave in six months
This is a worse majority to be in. If you take the counter offer, the odds aren’t in your favor that you’ll stay. In fact, it actually gets worse.
90% of employees who accept the counter offer will leave within a year
Potentially you could be the 1 in 10 who made the right choice, but statistically speaking, accepting the counter offer rarely works out.
Trust your instincts
When you decide to look for a new job, it’s likely because you want something different. Accepting an offer to stay at your current company can’t give you that. When you’re ready to find something new, trust LaJoy Group to match your talents to the best positions. We have the career opportunities you want whether is temporary, tempt-to-hire, part-time, full-time, or direct hire. Work with us today!