Sam Vincent
Sam Vincent
Senior Associate: Private Practice

Articles From the Team

Should you ever accept a counteroffer after you have resigned?

It’s a scenario that we hear about a lot. Walk into your boss’s office, let them know you’ve accepted another job, give them your notice letter and they go and offer you a higher salary and improved benefits to stay.

Even if you think this is a situation you’ll never find yourself in, it’s best to plan ahead and work out how you’ll handle “buy back.” It is more common than you think, as the first thing bosses do, at the first hint of your leaving, is panic about how they’ll possibly manage without you, how much it will cost them to replace you and how much time they will lose by having to replace you.

Many recruiters will say “no way!” as the chances are they will not be getting paid if you choose to stay. However, as with everything in life, it actually comes down to individual circumstances.

What I would say is that, 9 times out of 10 times it is wrong to accept a counteroffer as you wouldn't be looking for a new job if you were happy to stay, but sometimes it can be the right thing to do.

If you are in this position, I give you some food for thought as to why it is probably still time to move on:

1) Your employer is aware you are unhappy, the trust is fractured, from now on they will always question your commitment; 2) When the next round of promotions comes round, your employer will remember who is loyal and who isn’t; 3) When times get tough, who will be first to get cut? 4) If after 6 months your employer thinks it’s not working and decides to “let you go,” do you think it will be as easy for you to convince them that you should stay? 5) Are they insulting your intelligence by suggesting you don’t know what’s best for you? 6) Can your pride take being “bought?” 7) Will a couple more ££s and a slightly earlier finish time with the same workload change all of the reasons you were looking in the first place? 8) Where are those extra ££s coming from? Your next payrise 3 months early….? 9) Statistically, 70-80% of people who are bought-back have moved (let go or new job) on within a year. 10) Do you really want to work for a firm that will only pay you what you are worth if you threaten to resign? 11) Why were you not already being paid the new sum if they really think you are worth it, chances are they don’t think you are… 12) Business people are business people for a reason, they understand that it is easier and cheaper to pay you an extra couple of ££s rather than recruit someone to replace you.

It would also be wise to speak to a professional who helps with these kinds of things each day.

For more information contact Sam Vincent at BCL Legal.

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