Should you use a counter offer to issue an ultimatum?
So, you’re gunning for a raise and you think you’re awesome at your job but they won’t give it to you. You are so underappreciated. But you’ll show them, right? You’re going to march right into that manager’s office and say you’ve had a job offer – watch them crumble under the threat of losing you and suddenly offer double what you initially asked for. No, wait. Triple. You’ll make them beg. See how they like them apples.
Don’t do it. It’s not going to work.
First of all, you should never invent a job offer. That’s just silly. Second, if you do actually get one, be prepared to take it before you go to your current boss. Don’t expect to use it as leverage.
A new survey by Robert Half found that a whopping 92% of chief financial officers (CFOs) said they don’t extend counteroffers to keep employees from leaving, presumably not even to their best and brightest.
The survey is based on interviews with more than 270 CFOs at Canadian companies.
CFOs were asked, “Do you ever extend counteroffers to employees to keep them from leaving for another job?” Only 8% said yes.
Greg Scileppi, president of Robert Half, International Staffing Operations, offers the following explanation in a press release:
“Counteroffers are not the answer to preventing employees from leaving. Often, issues that prompt a resignation go beyond matters of money, and there is no guarantee that offering more financially will fix the root of the problem. As well, increasing the salary of one employee may set a precedent among other team members, creating an atmosphere of resentment and encouraging the notion that threats of resignation are the only way to see a raise.”
Scileppi added, “Employee engagement is critical to retention, and workers need to know that their employer is concerned about their wellbeing beyond the bottom line. Managers should check in with their staff regularly to ensure they are getting the opportunities, support and training needed to succeed, which can ultimately result in employees feeling valued, respected and committed.”
And if you’re an employee, the message here is don’t try to use a counter offer as a bargaining chip.
Or you might wind up like this guy, who got fired for doing just that.