While technology talent has been in demand for some time, the quick transition to remote work – and soon back to the office, rapid digital innovation, and increased risk of cybersecurity breaches over the last year, technology talent has solidified its position as the most sought-after talent pool. Given the difficulty in attracting technologists, companies are constantly working to retain them, and one prominent way is presenting attractive counteroffers to convince talent to stay. There are several considerations IT professionals should be aware of and evaluate to know whether to accept. Below are three questions every technologist should ask themselves to decide if staying is the right move.
What were your initial reasons for leaving?
Technologists should consider what their initial frustrations were that sparked the desire to job search, or what drew their interest enough to accept a call or interview from a hiring company. Creating a list of why they were open to the new opportunity can help determine whether the counteroffer addresses those concerns.
Before accepting a counteroffer, technologists should determine if what their company is offering is really what they want, or if it leaves certain motivating factors unaddressed. They should also consider which of their motivators are satisfied by the job offer with the new, potential employer to determine where they would have the greatest opportunity.
It’s no secret that technologists tend to have strong compensation packages – and counteroffers to this talent group often do not hinge on salary alone. If considering a counteroffer, decide what types of changes or perks might make it worth it long term, such as working on new projects or technologies, working with new management, or earning a promotion. If the counteroffer centers solely around compensation, it may be tempting, but likely not the right move long-term.
What hooked you about the new job opportunity?
Different companies, based on their industry, size, business needs and more, place different responsibilities on their technology team. Some technologists may find themselves desiring a new challenge or may want to add new skills to their repertoire, rather than sitting in the seat they’ve already been in. Technologists should consider what about the new role sparked their interest and pinpoint what unique elements of the job made it stand out. Are these responsibilities or opportunities something the current employer could realistically offer, or would more opportunity be presented elsewhere, for instance continued education or access to obtain new certifications?
Determining what they would like their next role to look like and what kind of future growth opportunities they may want to pursue can help technologists determine if accepting a counteroffer or joining a new company would keep them engaged, challenged and growing in their careers.
Is this a long-term solution?
Candidates should evaluate the longevity of the solution to determine if it is worth staying put, or if it may impede their career progression long-term. For instance, counteroffers for in-demand technologists may offer retention bonuses, and while this could incentivize employees to stay on temporarily, it doesn’t address underlying issues with the job.
Candidates may also consider any potential social ramifications that could result from accepting a counteroffer, and how it may impact their day-to-day. Would accepting the counteroffer result in tension or distrust amid teammates or with management? Is this something they could easily work through, or would it cause enough of a hinderance to negatively impact their success and progression at the company?
When someone is receiving a counteroffer, more times than not, they’ve already accepted the new job offer. So, if accepting the counter, it’s important to also consider the time, energy and resources the new company used in the hiring process and recognize the implications of going back on a decision. How it’s approached is crucial to avoid burning bridges. Technologists should consider their communication with hiring managers involved to ensure the best understanding possible, but also understand accepting a counteroffer may close the new door permanently.
All in all, there’s no denying the challenge of being torn between a current and new job opportunity, so candidates should take their time and trust their gut, making the best decision with the information available to them.
