“Counteroffers are not just about money—they impact relationships and trust within the firm. When it comes to counteroffers, just say NO.” — Shari Davidson, President of On Balance Search.
Research shows that accepting a counteroffer can harm your career. Nearly sixty percent (57%) of employees who accept counteroffers leave their company within the next 24 months. Moreover, 45% of professionals view counteroffers as a short-term fix for a long-term problem (LiveCareer Research 2021).
A significant portion of employees (34%) believes that counteroffers erode trust, and 30% say it negatively affects morale. The primary reason people leave their jobs is to pursue better opportunities, not just to secure a bigger paycheck.
The bottom line is this: when an attorney is ready to leave, no counteroffer will change their mind. Most job searches, whether active or passive, stem from deeper issues such as:
- Lack of career progression
- Cultural misalignment
- Long working hours
- Poor management relationships
- Lack of challenging work
- Commuting distance
“Many mistakenly use an offer from another firm as leverage to negotiate a counteroffer. Don’t do it—you will permanently damage any trust you’ve built at the firm,” warns Shari Davidson.
Why You Should NOT Accept a Counteroffer
- Nothing changes except your salary. The underlying problems that drove you to consider leaving will still exist.
- Security is fleeting. The new normal in business is change. Embrace growth and transformation by seizing opportunities both inside and outside the firm.
- You’ll be seen as disloyal. Once you start a job search, your loyalty is questioned. This can damage your relationship with the firm, impacting your future growth and treatment.
“Attorneys who value the relationship overcompensation are generally more satisfied and content with their firms. Before you begin a job search, try to address the underlying issues with your current firm. Law firms, like marriages, are built on loyalty. Talk to a recruiter before making any major moves,” advises Shari Davidson.
In the end, it’s important to remember that counteroffers are often a tactical delay to give the firm time to find your replacement. If you’re serious about advancing your legal career, seek guidance before making any critical decisions.
Looking to take your career to the next level? Schedule a consultation with us today.
Source: Counteroffers, Harvard Business Review
https://hbr.org/podcast/2019/04/counteroffers
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About On Balance Search Consultants
On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm.
Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com
Please note that the content of this blog does not constitute legal advice and is only intended for the educational purpose of the reader. Please consult your legal counsel for specifics regarding your specific circumstances and the laws in your states pertaining to social media and any legal restrictions regarding the law.
