The counter-offer – now that the job economy has “picked up”, we’re seeing more and more of this every day. Post-pandemic, SaaS scale-ups are receiving more funding than ever (via EY & Crunchbase), which is leading to aggressive growth targets, and hiring goals.
Whilst this is great for anyone who is looking at a new challenge, don’t forget that your current company will also have targets to hit, and will not be pleased about losing an important stream of revenue (not to mention the additional time/cost of finding a replacement – hiring is expensive)!
Thankfully, there is rarely a problem that money couldn’t solve (I’m being ironic).
An old WSJ article states that 93% of people who accept a counter offer will leave within 18 months. In my own experience as a recruiter for the software industry, I’d say it is usually an even shorter time scale of 12 months.
On a daily basis we work with the best SaaS salespeople across the world, so we decided to spend some time collating the reasons why they would consider leaving their current roles, and here’s what we found… The life of a software salesperson isn’t just about cash!
Company culture, internal relationships (management, leadership etc.), opportunity for development/progression, and of course the belief in the product are all commonly cited push factors. And none of these things will be solved by a few £ more on the base salary.
And let’s face it, even if it was, the majority of those who accept a counteroffer will have left within a year, and will have burned bridges with 2 great employers (existing employer and the company who wanted to hire you, but you turned down) along the way.
Is it really worth it in the long-term?
Deciding whether or not to accept a counteroffer could be difficult, so it is important to think back to why you started looking at something new in the first place. If you have one, it is a good idea to speak openly with your trusted recruitment partner and work out if there is anything else that you want to know about the new company so that you can be confident that you are making a decision that is best for your personal and professional growth.
For more career advice and industry insights, check out more of our blogs and read about how we support the top 5% of sales talent find their next high growth opportunity!
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