Articles From the Team
How to prepare yourself for a counter-offer situation
Good lawyers are in demand. All too often the ‘counter-offer’ puts a very big fly in the ointment and a flaw in your plans to leave your current firm. Before accepting a counter-offer it’s important to consider the reasons why you want to leave in the first place, because in a candidate short market, firms do not want the hassle and delay of replacing you. Your resignation might not be easy so if you find yourself in this situation, here’s 5 things to consider;
1. It is important to speak to your employer before commencing your search if your concerns are surrounding remuneration. The impact of accepting a counter financial offer can leave a very bitter taste and often result in future applications to the new firm not being taken seriously. So if you do decide to remain and many of the reasons why you wanted to leave in the first place (not just remuneration) have not been addressed, re-approaching the new firm again is not always an option.
2. It is also unrealistic to assume the funds for your counter offer are laying around. The reality of the situation is that this could be the amount that has been reserved for your next salary review, if indeed you are awarded it. And where was this amount in your last performance review?
3. Statistically, the same circumstances that drive you to consider making a change almost always reoccur within the next 6-12 months. A higher salary won’t remove any underlying issues which may range from frustrations over management, progression, location, work/life balance, quality of work.
4. There is a strong probability that you will leave at some point in the near future, will be considered a ‘risk’ and your commitment will be questioned. Firms will often anticipate this and look to hire anyway and this could have a major impact on your chances of promotion.
5. The legal field is a small community and the last thing you want is to be labelled as is insincere. You may end up at your current firm for a very long time.
We can help you though the difficulties often faced during your resignation. If you are considering exploring the external market, chances are there is a reason for it.