You’ve just accepted a great new job offer. The only problem is now your current employer is offering an enticing counteroffer to make you stay. As Pediatric clinics and practices struggle to find the qualified candidates they seek, they are increasingly fighting to retain key staff members and associates by making counteroffers. However, just because they’re willing to do so doesn’t mean it’s in your best interest, a truth that employees should consider if faced with this situation.
Approximately 4 in 5 employers say they’re likely to make counteroffers to valuable employees in an effort to encourage them to stay put, according to findings from the MRINetwork 2018 Performance Management Study. However, close to 30 percent of employers in the MRINetwork poll said there’s a stigma placed on people who stay as a result of a counteroffer.
Candidates, it seems, largely expect their current practice to make these retention attempts, with nearly two-thirds considering it more probable than not, the study found.
Owners who make these offers often do so begrudgingly. What’s more, in instances where a staff member decides to accept these counteroffers, they rarely solve the issue that led to their wanting to go elsewhere.
Here are a few reasons why counteroffers do more harm than good:
Employers’ hands may be tied
There’s no denying that it feels really good to be wanted, particularly in competitive practice settings. Counteroffers show, at least on the surface, that your current employer doesn’t want you to go. While this may be true, it’s important to keep in mind that there may be more to these offers than meets the eye. For example, hiring a new associate drains practice resources. According to a recent CareerBuilder poll, the loss of a good hire averages $30,000 per worker. In short, dollars and cents makes retaining current employees – even average ones – a safer bet than going with an unknown quantity.
Bridges may be burned
Counteroffers are a clear indication that current staff members aren’t happy in their current roles. As a result, practice owners may feel they can’t trust that person quite like they used to, so whatever reasons he or she had for seeking alternative work arrangements may never be addressed due to resentment.
Counteroffers are temporary solutions
Much like a Band-Aid on a severe cut that requires stitches, counteroffers mask the underlying reasons that employees want to leave in the first place. As noted by Society for Human Resource Management CEO Johnny Taylor, there are usually many reasons for why people want to seek what they perceive as greener pastures, and rarely are they resolved by higher pay alone.
“While your practice may decide to counteroffer because it wants to keep you, your employer likely will label you as someone who is ready to jump ship,” Taylor explained, writing for USA Today. “Having that reputation won’t bode well for you and your future at the practice.”
Ultimately there’s nothing wrong with wanting to pursue other opportunities. Should your current employer make a counteroffer to get you to stay, it’s important to evaluate them with your eyes wide open, recognizing their attempts may be long on promises but short on substance.