The Mother of all Blogs
Right now I’ve enticed you in with my catchy title I’ll let you in to the real subject of my blog……………………….it’s ‘counter offers’ – well kind of!!!! Now I know every day on LinkedIn there’s a blog out there telling people not to accept counter offers (mostly written by recruiters who have just lost a placement to a counter offer) with lots of accurate facts about the % of people that accept a counter offer & leave within the next 6 months!!
This is a slightly different blog as I’m advising people not to engage with other companies purely to receive a counter offer from their current employer – yes this is happening at the moment!!! I am currently recruiting in the busy transport infrastructure space in Melbourne so there is a lot of movement, big offers & of course counter offers. I have had clients tell me that their new policy when somebody hands their notice in is to ask ‘how much is it going to cost to keep you here?’. I have also heard on a few occasions of people that have interviewed with other companies & received an offer just so they can accept a counter offer from their current employer and stay where they are on more money.
Now there are a few reasons why this is the wrong way to go about getting more money & how it can also hinder your career in the long term. Firstly, your current employer will know that they are being held to ransom to get more money, & they will also lose trust knowing that you have been talking to other companies. If they know that the only reason you interviewed elsewhere was to get more money from them (& the truth always comes out) then I’m sure you will lose a lot of respect from your current manager & other people in your team. You have also let the company that offered you down, delayed their recruitment process for you own financial gains & it’s highly unlikely that they would offer you a position again in the future. If there was a recruitment consultancy involved in the process then they may choose not to represent you again in the future. This basically all means that if the stats of people leaving within 6 months of a counter offer are true then when you start to look for a new role then you will have substantially less options to choose from.
So what’s the solution to getting more money in your current role? Simple, ask!!! Do some research as to what other companies are paying for people with your experience, & provide this to your manager when you ask for the increase. If you can justify why you are worth this money then I’m sure any reasonable manager in the current market would make sure you are paid your true value. This way you can get the money you deserve without losing your current employers trust & respect, & not wasting the time of other companies & closing doors that may be open to you in the future. If of course you don’t get the increase you are due, then maybe it is time to look at other options but don’t be stupid and interview just to receive a counter offer, & if you are in the Melbourne market and want some advice on what Engineers in the Transport Infrastructure Sector are getting paid then give me a call!!
Written by Andy Malek. Andy’s main area of focus is transport infrastructure specifically roads & rail working with candidates at all levels within engineering up to GM & Project Director level across both the permanent & contract markets.
