As recruiters this is a question we get asked often as candidates are faced with the tough decision of leaving their current safe job to move into a new, exciting but unknown role. For most people change is daunting and when it relates to our future career prospects not to mention our income, lots of factors need to be considered.
I recently had a candidate who asked me this exact question even before we put her CV forward for new opportunities. She had applied for an internal promotion and been rejected despite having several years loyal service and the right skill set for the position. This rejection knocked her confidence levels and made her question her future in the company.
My advice in this instance is that in 90% of cases, it’s time to go! By staying in the role there could have been a general feeling of resentment towards her manager and even potentially the incumbent in the new role as well as a lack of commitment to her current role.
So, what happened next? She resigned from her role and was immediately offered a counter offer, substantial increase and new duties to go with it! This is a common occurrence and candidates are left feeling torn by the lure of more money, enhanced duties and most importantly the feeling of being needed by their employer.
These feelings were short lived, and my candidate quickly realized if she was truly valued, she would have been promoted and offered the pay rise prior to her resigning. According to research published by The Psychology of Business, “89% of individuals who accept counter offers are gone within six months”. The same study further calculated that, “93% leave either voluntarily or involuntarily within eighteen months of the counter offer”. These statistics are quite telling and categorically show that accepting a counter offer rarely leads to you feeling more fulfilled or valued.
For candidates considering this big question, “should I stay, or should I go?” These 4 points may help your decision:
- Money – let’s face it, we all need it even if it isn’t the most important factor. Has your employer proactively given you an increase or introduced a bonus structure in the last year or two?
- Career Progression – have you been offered opportunities for growth and progression no matter how big or small within the company?
- Feeling valued – Does your employer make you feel that your contribution is valued? The same study by The Psychology of Business showed that “39 percent of employees report they don’t feel appreciated at work”.
- Respect –Do you feel respected and is your opinion considered at work? Has your employer made you feel respected by showing interest in your life outside of work, allowing you work life balance to juggle life’s other commitments or even just letting you know you are doing a good job?
Some food for thought….
My candidate did decline the offers made by her current employer and is now starting a new and exciting travel job. It’s a tough world in business and sometimes your employer may not even know you are looking for more, so be sure to speak up! It’s always important to leave on good terms where possible as our niche travel industry could see you working with ex-colleagues or even ex-managers in future roles.
For more tips on navigating the world of counter offers or for general travel career advice, get in touch with Elena Ktori for a confidential discussion. As an industry expert she will help you find your next role, the one after and the one after!