31 August 2016
When was the last time you planned to do something far in advance, only to change your mind at the last minute because something or someone got you thinking differently? Chances are you aren’t the only one who’s changed their mind at the last minute, and as a job seeker, you may find yourself in similar scenarios. For example, you might have to decide between multiple job offers or consider a counter offer from your current employer. While they are both great positions to be in, accepting a counter offer can be a mistake, especially when you’re caught off guard. The counter offer is becoming a more common practice amongst employers that don’t want to risk losing their top talent. Instead of letting an employee go, they will present resigning employees with an incentive (or two) to entice them to stay. It can be tempting to take a counter offer from the company you are already employed with especially if it’s in the form of higher compensation or other perks. However, it’s important to remember why you started looking for a new job in the first place. While a counter offer may address some of your professional concerns now, in most cases, there may be unexpected consequences for this decision, including: Damaged relationships with your manager and coworkers While accepting a counter offer might seem like a good decision at the time, the moment your manager knows that you are considering changing employers, the level of trust they once had for you will be tarnished. Moreover, not only do they know where your motives lie and that you’re interested in moving on, but once word gets around the office that you were offered (and accepted) a counter offer, your coworkers may begin to treat you differently. To put this into perspective, we surveyed approximately 400 job seekers and working professionals and found that nearly 30% of employees who accepted a counter offer ended up leaving within 12 months. On top of this, 64% of those who left within 12 months felt that accepting the offer negatively affected their work relationships. In the end, these damaged relationships have the potential to decrease your level of productivity, affect your collaborative efforts, and eventually force you to consider leaving…again. Other unresolved factors outside of money may continue Since more money is typically what is offered when an employer counters, job seekers make the mistake of thinking this will solve all of their problems. However, before you accept a counter offer, ask yourself if accepting more money will make you happier despite the other reasons why you considered leaving in the first place. Don’t be blinded by a salary increase or any other perks you’re offered if it does not address your main reason(s) for wanting to leave. For example, job seekers may typically look for a new job in hopes of growth opportunities, new challenges, or a company culture. In those cases, an increase in salary would only serve as a short-term fix for a long-term problem. Realizing your employer doesn’t truly value your worth If you tell your current employer that you are leaving and they immediately start to praise your performance and are willing to meet your demands for you to stay, this should raise some red flags. Have you all of a sudden become a more valuable employee and your manager sees your true worth? Probably not, so ask yourself why it took your resignation for them to present their best offer to you. Typically, if an employer offers you a counter, they will probably say just about anything to avoid going through the process of finding a replacement. Therefore, if you know your true worth, but your employer has failed to compensate you for your skills and experience accordingly, stick with your initial decision and move on.
31 August 2016
This is part of a series of testimonials from candidates who have successfully been placed by The Execu|Search Group. This testimonial comes from Kieran Sullivan; you can find our past testimonials here. When Kieran Sullivan, an accounting professional, partnered with The Execu|Search Group, he had very specific needs to be met. Kieran had definitive goals entering New York’s financial services industry, and he also needed help from those who had experience hiring non-U.S. citizens before. After meeting with Ryan Mastro, an Associate within The Execu|Search Group’s Accounting/Finance division, Kieran was able to land a Reporting and Controls position at a leading investment bank within a matter of days. He had a very positive experience with Ryan, and was happy to speak with us about it… On his background… After graduating from RMIT University in Melbourne, Australia with a Bachelor in Business, I spent three years as an external auditor at EY Melbourne in their financial services office. Following a promotion to Senior Accountant, I moved to Houston, TX for a nine-month contract in a similar role. I had just recently moved to New York City when I approached Execu|Search to assist with my job search after being referred by a contact. On what he was looking for… Due to my specific needs as an Australian holding a non-immigrant work visa, I was looking for a firm that had a vast network of clients that have experience with hiring other non-U.S. citizens. I also wanted to partner with an organization that had specialists in the accounting and finance fields so that I could explain exactly what I wanted from my next role and future employer. On how TESG worked to meet his needs… I met with Ryan and explained my background and what I was hoping to get out of a new opportunity, including what I wanted and did not want in that role. I felt that Ryan listened to me and fully understood what I was looking for, leaving me confident that we were on the same page. Shortly after our meeting, Ryan sent me a few job descriptions, and they clearly demonstrated that he understood my needs. On preparing for the interview… Ryan was enthusiastic about the roles available to me, and he ensured that I knew all the details about the company, the role itself, and the people responsible for the interview process. He sent me background information and let me know where I could conduct further research in the event that I needed it. He also drew upon past experiences of other candidates who had interviewed for the same role, giving me a bio of the interviewer’s credentials as well as an overview of their interview style and questions that are typically asked. Having all this information available to me in preparation for the interview boosted my confidence greatly. On his overall experience… In the week I met Ryan, I not only interviewed, but was offered a role that was the perfect fit for me. I had come to New York City seeking a role exactly like the position I accepted, and Ryan’s ability to listen to my needs and understand my background helped make this opportunity possible. “Kieran posed a few interesting challenges with his visa status, but he was incredibly articulate in communicating exactly what he needed from me,” says Ryan. “As a result, I was able to line up interviews for him right away. Kieran was so polished and prepared that I hardly had to coach him, and he came highly rated from his previous employers. With such a highly qualified candidate, I simply needed to listen in order to find him the right fit. We met on a Tuesday, and he received a job offer that Friday.”