With the summer months coming to a close and with the UK starting to return from their holidays, some of the questions in many people’s minds as they return to work are;
Am I happy in my current role?
Am I excited about going to work?
Is my current role providing me with the direction I need to achieve my career goals?
As we have discussed in some of our recent blogs, The UK job market has evolved to become one of strong employer demand and the supply of jobs is starting to exceed the number of skilled professionals. Managers within businesses are having to be creative to retain their best employees whilst ambitious professionals may be more susceptible to the increased number of headhunt calls they are receiving.
It is generally recognised that most career focused individuals will be looking to expand on their skill set every two to three years. This leads to challenges for both employees who look to seek out increased opportunity in their current company; and Managers who have to cater for their own progression whilst developing and motivating their teams.
It may be that you are lucky enough to work for a company that recognises your talents and rewards your hard work by offering regular progression and a well thought out career path. Unfortunately this is not always the case which is when you may find yourself considering your options.
If you have explored opportunities internally but are not satisfied with your findings so have invested the time and effort to secure your ideal role externally, problem solved!! Well unfortunately there could be another hurdle to jump. The Counter Offer!
You’ve informed your boss of your new job opportunity and handed in your notice. Rather than accepting your resignation your current employer is offering you a pay rise to stay. This could create something of a dilemma, particularly as the counter offer is relatively attractive. Do you stick to your guns and reject the counter offer or stay where you are? In this situation it is important to step back and consider the situation as a whole. You need to think about your long-term career development and how you will best pursue your long-term professional goals.
Only rarely do people resign from their jobs to extract a better offer out of their employer. They look for a new job because they are ready for a new challenge and a change. It is often the case that professionals feel they are stagnating with their current organisation and need to move in order to progress with their career. Even if you do receive a counter offer, how long will it be before you feel the same way about your role and your employer? You may accept the counter offer and find yourself in the same positon in six months’ time.
If your employer thinks you are worth keeping, it might be worth asking yourself why they didn’t offer you a salary increase or the progression you have asked for before. Hopefully they haven’t been trying to get away with paying less than you are worth.
Once you have handed in your notice, will your employer continue to view you in the same light or will a bond of trust have been broken? Will there now always be suspicion that you are looking for a new role?
Is the counter-offer a cost saving measure? It can cost a lot of money to find a replacement and a lot of time to train them up, particularly where senior roles are concerned. Employers may offer a counter offer simply to avoid the hassle and expenditure involved with finding a new employee. How will this affect your longer terms goals?
Fundamentally you do not want to end up having any regrets. If your current employer has invested the time in you and your career then that’s fantastic and your loyalty and hard work have been rewarded. If you have worked for your current employer for a length of time, you can probably visualise how your career will develop with the company after accepting a counter offer. It is likely you will have the same issues in the same environment with the same opportunities. Sometimes it’s important for professionals to make a change and open the door to new opportunities. This is not always the case but if you remain with the same employer forever, doing the same type of work, you may end up having career regrets later in life.
Sourcing talent, succession planning and the key to hiring the best for your business
UK Job Market - The Consultancy Group Review