Counteroffer Culture

Attracting and retaining the best and brightest talent continues to be a significant challenge for businesses and hiring managers alike. As businesses increasingly recognise the critical role that the right finance talent plays – not only in driving growth but also in navigating an evolving and complex economic landscape – the prevalence of counteroffers has surged.

In today’s candidate-driven market, Director Aaron Conneran outlines the importance of identifying your core career motivators. He advises that when faced with a counteroffer, it’s crucial to take a step back and make a decision based on your long-term career goals, rather than being swayed by emotional impulses.

Counteroffer Culture – when is the right time to move?

As 2025 approaches, the finance recruitment market in Manchester remains as competitive as ever. The demand for skilled and qualified finance professionals has stayed high, particularly toward the end of the year. This trend shows no signs of slowing down, with counteroffers becoming increasingly common as businesses fiercely compete to attract and retain talent.

In today’s climate, counteroffers can be staggering. One example that stood out to me was a 50% pay increase offered to retain someone already earning an impressive salary. It’s a testament to just how challenging hiring has become in this candidate-driven market, where retaining talent has become a top priority for business leaders and hiring managers alike.

However, while counteroffers are often generous and sometimes eye watering, they rarely solve the underlying issues that lead someone to consider leaving a role. From my experience, salary is only one piece of the puzzle – and often not the most important.

Reflecting on my own career, I’ve faced four counteroffers and know first-hand how emotionally and mentally challenging the process of resigning can be. It’s a time filled with uncertainty, second-guessing, and sometimes even guilt. But one thing has always stood out to me: when you’re deciding to leave a role, it’s essential to be clear on your motivations.

If you’re considering a new position, my advice is to take the time to reflect before taking any action. Write down the reasons you’re thinking about leaving and rank them in order of importance. You’ll likely find that money isn’t at the top of the list—it rarely is. When you’ve done your research, prepared thoroughly, and are presented with a counteroffer, revisit that list and ask yourself a crucial question:

Does this counteroffer truly address the reasons I want to leave?

This approach can help you make a rational decision, rather than one driven by emotions in the moment.

For those navigating this process, sharing your experience with trusted recruiters or your network can be invaluable. Whether it’s the challenge of giving notice or handling a counteroffer, these moments can be difficult to navigate. But with clarity, preparation, and support, you can confidently take the next and more importantly right step in your career.