Because companies want to show who is the boss. Unless some one is truely extraordinary, the company shows that everyone is replaceable and hence no need to bow down to threats and counter offers of employees.
Forget counter offers. I have evidence of top performing employees getting severely underpaid compared to new hires in the same team at the same level. If that's not bs, i don't know what is
It happened because they had a whole new team of management and were trying to compete with the likes of fb and g for new talents. But forgot about the existing employee who actually built the company. Almost everyone left eventually.
I forget the exact statistic but something like 75% of people who accept a counteroffer from their current company end up leaving within a year anyway. You decided to leave for a reason, a little more money likely won't solve the problem.
Amazing that people keep regurgitating this "fact." Every situation is different. Sometimes it works out great, sometimes it doesn't. Do what's best for you.
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