Not sure how to handle your resignation and your new job offer? Switching companies can be overwhelming. Here’s how to take control over your new job offer, your counter-offer, and your resignation.
How to Evaluate a Proposed Job Offer
What goes on in your mind while you are evaluating a new job offer? In order to come up with some accurate and meaningful answers, a national personnel agency retained a consultant, with a background in both industrial psychology and personnel. He conducted over 100 interviews with executive search firms, senior personnel people, and other industrial psychologists – he found the following ten points to be universally true. In other words, while you’re “sleeping on it,” these are things you should be thinking about:
1. Do I like the nature of the work I will be performing?
2. Can I do the job or be trained to do the job in a reasonable period of time?
3. Does the Company have a good reputation?
4. Is there good chemistry between the people I will be working with and me?
5. Will the company pay me a fair wage and fair benefits?
6. Is the opportunity for growth in keeping with my career goals?
7. Is the location of the position appropriate?
8. Is the philosophy of doing business compatible (in keeping) with my own?
a) Management style
b) Approach to planning
9. What will this job do for my future marketability?
10. How will working for this company affect my personal lifestyle?
Pitfalls of the Counter-Offer
You have accepted an offer from a new employer. Upon giving notice to your present company, they tell you they don’t want you to leave. They have great plans for you and, as a token of appreciation, a salary increase is made… you have been given the “Buyback” or “Counter Offer.” Before this happens, you should consider the following:
1. ASK YOURSELF, “IF I WAS WORTH X DOLLARS YESTERDAY, WHY AM I SUDDENLY WORTH MORE DOLLARS TODAY?”
Consider this: your present employer could merely be “buying time” until they locate a replacement. The reason you are made a counter offer is because they need you. When this situation is rectified (and they will see that it is), your position in the company will not be strong, and you will be expendable.
2. THE COMPANY MAY FEEL THAT THEY HAVE BEEN “BLACKMAILED” INTO GIVING YOU A RAISE.
If your company really recognized your worth, they would have given you the added income or advanced position without your leaving.
3. REALIZE THAT YOU ARE A MARKED PERSON.
The likelihood of promotion is extremely limited for someone who has given notice. According to the NEA, of all persons who accepted buybacks from their company, 80% were not on the job six months later. When economic slow-downs occur, you could be one of the first to go. Also, promises for change often don’t happen, and people end up leaving within the next 6 months.
4. YOU MAY FEEL FLATTERED IF YOUR COMPANY HAS EXTENDED A COUNTER OFFER, BUT IS MORE MONEY GOING TO CHANGE EVERYTHING IN YOUR PRESENT JOB?
Carefully review all the reasons why you wanted to make a change in the first place. Does the counter offer really offset these reasons? Has anything changed? Remember the new opportunity (you will be giving up) that looked so favorable when you accepted it.
5. REALIZE THAT EVEN IF YOU GET WHAT YOU WANT
You may have to repeat an intention to leave every time you want a salary increase, promotion, improved conditions, etc. Also, most people who accept a counter offer are usually gone in 6 months, because the reasons why they resigned won’t change, just the money. (I often get called when they realize that they made a mistake to have accepted the counter offer.)
We strongly urge you to carefully think over all these facts before making a final decision. It is your career, your livelihood. One important mistake could be costly in terms of your professional growth.
How to Resign Gracefully
Now that you’ve made a positive business decision to accept an offer of employment from another firm, it is necessary to resign from your present position. However, don’t resign from your present position until you’vecommitted yourself to your new opportunity.
The most effective method of resignation follows these steps:
- Resign to your supervisor at 4:40 – 5:00 p.m., late enough where they can’t put a counter offer together until later. Also be sure that you notify Personnel as shown in the sample letter (below).
- Be positive, state the following in a tactfully written resignation letter (see sample below):
- You are giving notice.
- Your last day will be (Date).
- Thank your supervisor for the time spent working with the firm.
- Give reasons for leaving only when asked and if that situation should arise, don’t prolong the conversation.
- The $ figure for which you are leaving should remain confidential. Just say, “the offer was a fair one.” It’s no one’s business but your own.
This is not the time for discussion as you have already made the decision to leave.
- Never burn bridges—it might affect future references.
- Never give money as a reason for leaving. This complicates a smooth resignation.
- Never appear as though you are trying to “blackmail” your company. State that the new opportunity better fits your career goals.
- If they ask you if there’s anything they can do to keep you, just reply that you are flattered but would like to focus the next few weeks on transitioning your work to other people. Your assignment at this point is to get your manager to let you focus on the transition, not on how to keep you. Remember, it’s his/her job to do whatever he/she can to keep you.
- Never take his/her reaction personally (good or bad). At the end, they will all give you a goodbye lunch and wish you well.
SAMPLE RESIGNATION LETTER
Dear Mr./Ms. _________:
Please accept this as two (2) weeks formal notice of my resignation from the employ of (Name of Company). My final day of employment will be (Date).
I have thoroughly enjoyed the work environment and professional atmosphere here. Your (management, direction, guidance, counseling, etc.) have/has been the source of great personal and career satisfaction to me. The (experience/knowledge) gained during my association with (Name of Company) have/has provided significant career growth for which I shall always be appreciative.
Thank you for your past consideration.