Counteroffers: Should I?

By Jeff Altman, The Big Game Hunter

It’s Friday afternoon. You walk into your boss’ office and ask the question that has scared many managers. “Do you have a minute?” you ask. At that moment, they know you’re resigning and if he/she wants you, they will have to fight to keep you.

“Why? We love you. Please stay! Don’t go! What do we have to do to keep you?”

You should not be amazed to receive a counteroffer after you give your notice because in times of labor shortages, the cost of replacing you can be enormous. Those costs can include:

• The impact of stretching your colleagues while they look for a replacement
• The cost of advertising and responding to every respondent
• The cost of taking people away from their tasks to interview
• The fee to a search firm
• The cost of getting your successor “up to speed”

Yet, the question remains, should you take a counteroffer? Should you consider accepting your current company’s proposal? Here are a few things to consider:

• What kind of company do you work for if you have to…