Counter Offer
Jul 8, 2021
7 Comments
I have a friend who accepted a position and gave notice their employer. The reason is the offer was a larger compensation package and better benefits. Management decided to give a counter offer and a "promotion" and they're gonna ponder at it. Still unlikely going to accept the counter offer cause the new offer was already accepted.
What I don't get is why companies never recognize talent in house, hire associates externally, and pay them more than the internal ones? Does it always take quitting for them to realize how valuable home grown employees are?
comments
Itโs a forced raise/promotion. If they didnโt want him to leave they would have done it right away.
I think youโre correct in the scenario that an employee has to ask for a counter offer. This probably means they werenโt as valued.
If the company is willing to offer a counter, it most likely means they value you and are willing to offer something. This in itself, is generally in a separate budget.
Gotta aim for 3 year + average retention period. To achieve that you gotta price out the competition.
Counterpoints, A lot of engineers are expendable (60-70%) also jumping for higher TC when engineers are not ready for it harms both sides equally.