When Counter Offers Backfire
For a majority of the people still employed in their companies, an offer from another company that comprises better pay will not be viewed as a bad thing. However, the salary is not all that matters when it comes to taking on a new career path or halting your growth in one company to join another one.
Staying with your current company can sometimes be a better option than grabbing this new opportunity, like a new financial job offer, that seems more lucrative. This doesn’t mean you don’t want a higher salary.
On the contrary, you want a pay raise and you want to have that without leaving your current job. But because business has been tougher lately, what can you do about this situation?
From a conventional stand point, the logical thing to do is to ask your current employer for a counter offer. But this could lead to other consequences. The company might give in to your request if you play a key role in the company. However, it is also possible that you may feel a shift in the environment around the workplace. For some people, the change in attitude and relationship between employer and employee can be severe.
When an employee asks for a counter offer, it’s a public declaration of your intention to leave if the employer.
Even if the company you’re in decides that giving you a raise is a good option, many big companies still put a lot on the stability of their staff when it comes to loyalty and devotion to the company. Simply put, asking for a counter offer is like a double edged sword. You may get what you want but bear the brunt of your employer’s distrust later on.
What are some of these consequences?
One thing that could be at risk when you ask for a counter offer is your suitability for promotion to a higher position. Your employer most likely has something in place for individuals that fit the requirements for the MBA jobs, and will have a system in place to satisfy their employees’ need for career growth. However, there are employers that see your interest in other job offers as a lack of loyalty. This stigma of being the employee who got tempted by a rival company could mar your credibility, rendering you unsuitable for promotion.
Then, there’s also the possibility that your current employer will be reminded of why you are a valuable asset to the company. There’s a chance that your employer will realize the exact reason why the competitor, who perhaps has several finance jobs open, wants you for your financial modeling training skills. Your current company may give you a promotion instead of a simple pay raise, which is an even better change for you.
The point is that you need to take a good look at your options when such an opportunity involving finance jobs comes around. You risk the change in working environment if you grab the opportunity too soon. However, if your request for a counter offer falls through, you may be in an uncomfortable position when you’ve decided not to pursue the new job offer.
Remember that asking for a higher salary when you get a call from a rival company should be done in a strategic manner. Tread lightly so that you don’t eliminate the good relationship between you and your current employer. The worst thing you can do is make your request sound like you’re blackmailing your company into giving you a pay raise.