The Counter Offer: Blessing or Curse?

,

It’s that moment right before the fight begins, when the two contestants are circling around each other, staring into their opponents eyes, trying to psyche each other out. You and your boss feel the tension, but have been skirting around each other for months now, avoiding the problem. But then you make the first move… you throw a left swing at your boss by telling him you’ve received another job offer. You take momentary pleasure from seeing your boss scramble back onto his feet after the blow. A time out is called and the air is still, but the suspense is palpable. Thoughts of manipulation and mind games run through both your heads. Then your boss fakes a move, leading you to think that his stomach is wide open for your next swing. This is the counter offer. But then right as you start your swing, his knee comes up nailing you (in a very sensitive area) and knocking the wind out of you. You’re down, and unable to get back on your feet. This is the result of falling for the counter offer. While counter offers should be approached as simple business deals, it is often hard to avoid the emotional manipulation they present. They have a certain lure to them and come rife with guilt, greed, fear and hurt pride. In a world where money has become the primary motivation behind so many undertakings, can you truly afford the counter offer?

On the outside, a counter offer looks like a shiny new toy under the Christmas tree. Especially in this market full of doubt and insecurity, more people might be apt to accept the counter offer. The risk of starting all over again with a new company may not seem worth it. It is easier to remain in your comfort zone and avoid change-including the pain of packing up and moving all of your belongings. There’s an emotional aspect to the situation as well. Seeing your boss beg for you to stay and offer you a raise is bound to touch upon your pride. Your boss may tell you that this was a raise/promotion he was planning to give you soon anyways, or that he can’t afford to lose such a valuable member of his team. Therefore, you should be prepared for the counter offer upon resignation. This will allow you to think clearly and avoid making a decision complicated by emotions. Consider why you were searching for another position in the first place. If your motivation wasn’t purely money but instead lack of advancement, or even just an ill-fitted environment, don’t be fooled into thinking these things will magically disappear with a raise of your salary. Really think… will more money fix the problem?

Really think… will more money fix the problem?

However, there is a good chance that your boss isn’t thinking about you when making his counter offer. Your boss is probably thinking about how his performance and next raise will be harmed by your resignation. How he may not have time to find and train a replacement before the end of tax season, or even how finding a replacement might jeopardize his much anticipated Hawaii vacation. Now that he knows that you are not loyal to the company his intent will only be to keep you short term. Buying your time now means that he can let you go according to his time table and not yours. In a few months after the busy season is over, or after he’s found a suitable replacement, he may let you go with little or no notice. 85% of employees who accept counter offers are gone within eighteen months. Your boss now understands that money is your primary motivation and that you can be bought at the last minute. You’re perceived as a risk, but also you’ll be expected to justify your raise and work harder.

Hal Reiter, journalist for Forbes says that

“in [his] 25 years of experience, [he] has learned that accepting a counter offer is usually career suicide.”

Once your boss learns of your disloyalty you will most likely no longer be considered for career growth or advancement. And when it comes time to scale back, you may be the first to go. Emotionally it is an insult to your pride and honor. It can affect the way your coworkers view you, and hurt your relationships with them. And honestly, if you have to threaten to leave in order to get a promotion or a raise, it may be time to rethink the company you’re working for anyways. Also, where is all this money coming from all of a sudden? How come one day you’re worth $40,000 and the next you’re worth $52,000 without doing anything but threatening to resign? In reality, the raise is only temporary until your company is ready to fire you. By accepting a counter offer you’re burning many bridges. You’re no longer on good terms with your boss, but also with the company who made you an offer. So when your current boss lays you off (most likely in the near future) there is no chance of you finding a job at the other company.

Many recruiters also keep a blacklist of employers who have accepted counter-offers in the past. This information can be an obstacle to getting any job in the future.

“Remember: Recruiters never forget a buy back.” (Reiter, Forbes).

Accepting a job counter offer can haunt you for the rest of your career. I would suggest talking to your boss openly BEFORE you accept any other offers. Let him know you have issues with your current position. Clearly lay your problems out in front of him. Let him know that you are considering looking elsewhere if you can’t find solutions to your concerns. Your boss won’t feel threatened and may be much more flexible in helping you. If you find that your list of cons about your current job is much longer than the pros, it is probably time to find a new position and resign. But, BEWARE: don’t let the wrath of the counter offer ensnare you!

A Little Hand Holding Never Hurt

On “The Hills,” it seems like L.A. is filled with gorgeous young adults, with incredibly glamorous jobs, who still have plenty of time to hit the beach and work on their perfect tans.  What then, is preventing you from packing your bags and hopping on the next flight west to seek the ultimate job and life-style?  If you do see the City of Angels as the perfect place to spread your career wings and fly, don’t kid yourself.  While L.A. does present myriad job opportunities, relocating is challenging and guidance is key. Read more

Premier Financial Search makes it into SFV Business Journal’s Top 15 List

Look who made it onto San Fernando Valley Business Journal’s Top 15 Staffing and Employment Firms! We are very proud to say we did!

Beginning in 2001, Premier Financial Search (PFS) started out as a one-person company. Now, PFS is considered to be a leader in the placement of public accounting professionals. As our firm grew from one employee, to now eight, so did our number of placements. We have continued to expand our services nationwide and we greatly appreciate being noticed as a top firm in the San Fernando Valley, a home to almost 2 million people.

One of the greatest things about our firm’s growth is being present in several areas. Encino, CA was PFS’s first home when Allan Fisher founded the company.  Now, PFS has expanded to three offices in the Los Angeles area. We have offices in Valencia, Van Nuys, and West Los Angeles, while continuing to do business nationwide.

PFS has, and will always, continue to keep a standard of working with quality candidates. Because of this standard, we are able to work with clients in California, New York, North Carolina, Oregon, Texas, Washington, and more. Our hope is not to just continue making top lists, but to create long-term relationships through trust by making quality placements for our clients.

2014-StaffingandEmployment-Big

 

 

 

 

 

 

 

 

 

 

 

 

Premier Financial Search announces the promotion of Cheryl Berg, Senior Executive Recruiter

Premier Financial Search is elated to announce the promotion of Cheryl Berg to Senior Executive Recruiter.

Read more

PFS Continues To Grow

Since its beginning in 2001, Premier Financial Search (PFS) has become known as a leader in the placement of public accounting professional in Los Angeles.

Over the years we have continued our deliberate growth by delivering the same high level of integrity and quality candidates to Orange County, San Diego and The Bay Area.

As we continue to grow, we have been able to secure search engagements throughout other major US cities.

In the last few weeks, we successfully filled the following searches outside of the Los Angeles market.

  • Charlotte, NC – Tax Manager at a National CPA Firm
  • Seattle, WA – Tax Manager at a Large Local CPA Firm

If you live in or are considering a move to the following areas and have at least 2 years of current public accounting experience, contact us to see how we can elevate your career.

Please contact Allan Fisherallan@pfssearch.com – for the following locations:

  • Los Angeles, CA
  • Orange County, CA
  • San Diego, CA
  • San Francisco, CA
  • Sacramento, CA
  • Santa Barbara, CA
  • Charlotte, NC
  • Boston, MA
  • New York, NY

Please contact Cheryl Berg – cheryl@pfssearch.com – for the following locations:

  • Seattle, WA
  • Portland, OR
  • Chicago, IL

 

The Top 25: CPAs Go Beyond Balancing Books

,

San Fernando Business Journal – featuring quotes by Allan Fisher “The Top 25: CPAs Go Beyond Balancing Books”

SFVBJ – The Top 25 CPA’s Go Beyond Balancing Books

Local Accounting Industry Thrives Despite Its Size

,

San Fernando Business Journal – featuring quotes by Allan Fisher “Local Accounting Industry Thrives Despite Size”

SFVBJ_Local Accounting Industry

San Fernando Valley Business Journal

,

San Fernando Valley Business Journal – featuring quotes by Allan Fisher “New Accounting Mantra: Recruit, Recruit, Recruit”

SFVBJ New Accounting Mantra Recruit, Recruit, Recruit

Newsletter: Behind the Numbers

,

Premier Financial Search Newsletter – “Behind the Numbers”
Your inside look at the accounting and financial service job market

PFSNewsletter-2007

Moving Your Resume To Level Titanium

,

The Wall Street Journal – featuring quotes by Allan Fisher “Moving Your Resume To Level Titanium”

WST Resume Titanium