Resignation and Counter Offers
When it comes to resigning, for a lot of people it can bring mixed emotions as some can’t wait to get out of the door, and others feel guilty about leaving. Our advice is to keep it simple and professional, by this we mean do give your contractual notice, make the relevant parties aware (i.e., line manager and HR) and continue to do what is asked of you.
In return, you should then be able to agree to an end date, get a reference and finish on a positive note. Please see below an overview of what you should have included in your resignation:
1. Your Intent to Resign:
Your letter should start with the fact that you’re resigning.
2. Your Last Day of Employment:
You should provide information about the last day you plan to work at the company.
3. An Offer to Assist with the Transition:
Often, employees will also offer to help in the transition, perhaps by recruiting or training a replacement. In this way, both the employee and the employer can leave the situation with closure and a sense of respect and amicability.
4. Questions You May Have:
If you have questions about your final pay or benefits, you can inquire in your letter or email.
5. Your Contact Information
Include your personal contact information so it’s easy for the company to get in touch with you.
6. Your Signature
A hard-copy letter should include your written signature above your typed name. If you’re sending an email, simply type your name.
How to handle a Counter Offer
You feel you’ve got through the challenging stages of finding a new job; perfecting your CV, performing well at the interview stage, then being offered the ideal role. You then resign and your employer then makes you an enticing offer, in an attempt to make you stay and reconsider your resignation, leaving you in a quandary. So, do you stay, or do you go?
Whilst it’s important to weigh up the new internal offer as thoroughly as you do the external option, we feel it’s key to remember why you started looking for a new job in the first place. There is no ‘one size fits all’ answer for the difficult topic of an employment counteroffer, at PLP, we have experienced various versions play out over the years.
Here are some points to consider when you’re presented with a new job offer, and your current employer is keen for you to stay:
Delayed recognition
If you are worth your increased salary and responsibilities, why was this not recognised before you handed in your notice?
Often, part of your frustration from the outset may be that you are undervalued, and if it takes your resignation for this to be noticed you may be better off with an organisation that makes you feel more appreciated and is more proactive in helping you fulfil your career ambitions.
Where it is not about the money
A counteroffer may not just be about a pay rise, it could be to address other key motivators such as level of responsibility or work/life balance. Unless salary was the sole purpose for looking at new opportunities, counteroffers are rarely the answer.
In our experience, most people who accept them find themselves looking for a new job a few months later, when the situation that caused them to explore the market, remains unresolved.
Trust issues
When your employer knows that you have been interviewing elsewhere, even more so when you have accepted an external job offer, bridges are burned. More often than not, the trust that you’ve built up over time is broken and is often irreversible.
Be aware of the wider job market
Should you accept a counteroffer that results in a substantial increase in salary, you may end up being overpaid compared to the market value for your level of experience. This could make an external move in the future challenging, as your remuneration won’t accurately reflect your value in the market.
If in doubt, do reach out to us for help or advice.
We are here to help
Contact Andy, Andrea, or Sue for a free consultation.