Heading towards the end of the week, work week is winding down. Sales are winding down and the sales activities are whining down, works winding down and hope. You're all safe, happy, productive, doing well, making money. What have you. So today's episode four and in episode four, we're going to be talking.
You should never accept a counter offer from your current company right now. I know a lot of people out there it's a really active market. A lot of companies are hiring. They're looking for key people there. You know, people are, are, are offering insane amounts of money, title, stock options. What have you?
It is, it is the buyer's market. It is a candidates market, and a lot of the companies. They want to keep their people on board, right. They don't want to lose them. So they're offering what, what, uh, what's typically called the industry a counter offer, right? The counter offers, basically the company gives you money or, uh, an uptick in salary or title, whatever to try to keep you on board.
Now we're going to go over the reasons why you should never, ever take a counter offer. Right? First of all, the statistics, the statistics are out there, people. Yes, the statistics are out there. People over 80% of the people who actually take account off or leave, they leave within a six months time. They leave.
And then further that over 95% of the people who accept account offer leave within one year's time of getting that count off. Right? So what's the point of even taking the counter offer? Right? First of all, let's, let's go over some of the points of a counter offer. So a counter offer is basically when you announce your resignation to your current employer.
I'm going to go move to another company. Um, they're going to offer me X, Y, and Z. So I'm going to leave in two to four weeks and your manager goes, "Hey, wait, don't leave yet. Let us get you a counteroffer. Let us come back with you." And one week later or sooner, they come out with an offer. That's a raise in the products of your salaries, stocks, um, title.
What have you. But you got to think of, well, first of all, there's the motivation. Why is your current company even going to come back at you with a counter offer? Well, first of all, let me tell you the facts are it's very expensive to retain and to find a new talent, right? They got to go through recruiting the new employee, which typically there's recruiting fees associated with that, then there's training fees. Right? And then there's a time it takes to get this person up to speed right. And productive. Right. You factor everything in, it can be up to two to 300% of what, what the current candidate or what the current employee is making.
Right. So the reason they're making an account offers, it's too expensive for them to go and try to find another person and a replay. The time constraints, everything. Right. That's why the companies are offering you a counteroffer, right? So, boom, right there. It's not in your best interests. It is in the company's best interests.
Second is it really doesn't address the underlying factor. Salary is only one fraction of the total reason why a person wants to actually move up from a company, right? It could be there being a some political issues going on with the current organization.
There's management issues. There's really no room for promotion or career advancement with their current path. Then salary, you know, salary is also an issue, right? All these things are compounded. So these problems really aren't going to go away. If the company comes back with you in five, 10% or whatever increase, no, they're not.
So, you know, why take the count offer? And lastly, there's the loyalty issues. As soon as you announce your resignation from the company, they're going to know that you're a flight risk. You are, you know, you will, in a second, you will leave the company. So you think they're actually going to trust you with future projects, or they're gonna give you the same type of.
They won`t work with you in the same capacity that they have in the past after you have announced your desire to leave for the company? No. No. So these are some of the top reasons of why you should never accept the counter. Thanks a lot for joining the episode for today are our live stream or podcast.
If you haven't checked us out, we're also live on YouTube, Spotify, apple podcasts, as well as Stitcher radio. Thanks a lot for joining. Have a wonderful week, great weekend. And then look forward to seeing you online. Take care, everyone.
You can check out my articles and other content free on Substack here.
Why You Should Never Accept A Counter Offer From Your Current Employer