Getting the Most out of Your Recruiter: Understanding Counteroffers
If you are potentially open to exploring new opportunities, a recruiter can be a valuable, if not vital, ally. The benefits of a dedicated recruiter go beyond providing access to options, which in and of itself is a hefty benefit. A quality recruiting professional can provide the resources and recommendations to help you stand apart from other applicants, and they do this at no charge to you. To provide candidates with a better understanding of how recruiters can help them, we have developed this series to present three unique perspectives of the job search and hiring process and how a recruiter can help you overcome obstacles and create opportunities. We will discuss everything from better understanding how the overall insurance market is ideal for dedicated and driven professionals to elevate their careers to the importance of communication throughout the process. While this series does not entirely encompass the total value of a recruiter, it should provide you with a greater understanding of their necessity throughout the process.
In his bestselling work The Seven Habits of Highly Effective People, Stephen Covey urged his readers to “begin with the end in mind,” and that’s what we’d like to do in this series, which is why we open with one of the final hurdles of the hiring process: counteroffers. The topic of counteroffers is an apt one because it should serve as a reminder of why you began the process, and why it is important to understand a counteroffer for what it really is.
WHY ARE YOU POTENTIALLY OPEN TO A CHANGE?
At The James Allen Companies, when we approach a potential candidate with an opportunity, we are interested to know what factors are important in a new opportunity. Salary is only one component but it can’t be the sole reason for considering a change. In the full spirit of disclosure, we are exceedingly hesitant to work with individuals whose only driving force is a better salary. We are looking for dedicated and driven professionals who have the vision to look beyond salary and consider other cultural and professional factors. If we feel that your aspirations and attributes are a match with our client, then we help facilitate and navigate the process. If the process culminates in an offer, then you may have to contend with a counteroffer. If a counteroffer occurs, it creates an opportunity to reflect on why you chose to seek out and accept a new position with a new company. It is also a good time to refresh yourself on the truth and consequences regarding counteroffers.
A WOLF IN SHEEP’S CLOTHING
Before going any further, it’s imperative to see a counteroffer for what it really is. Keep in mind that at this point you have accepted an offer from a company excited to bring you on board. The counteroffer is presented when you tender your resignation for your current company. In reality, the counteroffer is an insult, a last-ditch effort to save the company from an inconvenience. Loyalty is vital, and a counteroffer is the opposite of loyalty. It’s an act of desperation that your former employer will use to allow themselves more time to find your replacement. To accept a counteroffer is to sacrifice more than a great opportunity, but it is to sacrifice your reputation, and all for an empty gesture that will most assuredly end poorly.
WHAT IF YOU ACCEPT THE COUNTEROFFER?
If you were to accept a counteroffer from your current employer what can you reasonably expect to change other than your salary? If you’re lucky, nothing will change, but statistics suggest you probably won’t be that lucky. According to numerous industry reports, 70 to 80 percent of people who accept counteroffers either leave or are let go within a year. Either you discover that the same reasons that led you to seek new opportunities persist and you find yourself back on the hunt (only now, most likely, with one less option since the company whose offer you rejected in favor of the counteroffer is likely no longer interested), or your company retains you long enough so that they can seek out your replacement. Even if you are one of the 20 to 30 percent of people who make it beyond that year, how will you handle future negotiations? How do you think you will be received in future negotiations? Accepting a counteroffer doesn’t move you forward but only keeps you mired in the past.
If the only way to inspire your company to reward you is through the threat of accepting a new offer, is this the kind of company in which you really have a future? You sacrifice more than just a new opportunity when you accept a counteroffer. You sacrifice your reputation with your current employer, other companies and recruiters. Ultimately, a counteroffer is never going to take into account the most important reasons for seeking out a new opportunity. A counteroffer is not going to improve your professional ambitions. It is not going to improve your career. What it should do, however, is remind you why you chose to move on in the first place, and why you’ve made the right choice.