Thoughts on Counteroffers

Thoughts on Counteroffers

During our history, Accountants One has seen many counteroffers and there have been very few instances where a counteroffer has proven to be a sensible career move. In fact, our belief is that most counteroffers are simply stall tactics. The only time when a counteroffer is legitimate is when it addresses the precise issue(s) that let an employee to investigate a new opportunity in the first place.

Companies extend counter-offers for a number of reasons. Among these are:

  • Morale suffers when people quit
  • Companies like to brag about retention rates and lack of turnover
  • Departments slow down due to a vacant position
  • Resignations look bad on a manager’s record
  • The cost of recruiting a new employee is expensive
  • The vacation schedule can be devastated

We have seen many reactions to a resignation. Here are some of the comments that are designed to keep an employee in place:

  • “We were about to give you a promotion. Let’s discuss it before you make a final decision.”
  • “Before you make this public, the V.P. would like to take you to dinner.”
  • “Who are you going to work for?” – to be followed by negative comments on the company.
  • “We’ll meet the increase in salary, plus $10K.”

Human nature comes into play here making the separation very hard. First, change is difficult. The employee who has put in their notice is facing the unknown and faces the tendency to stay with what is safe. Second, managers react out of the fear of loss and the fear of looking poorly for allowing an employee to leave vs. letting someone go. Therefore, to avoid the natural inclination of accepting a counteroffer consider the following:

  • The best reason to look for a new job is never money. If you stay with your current position because of money, the root of the problem will not have been addressed.
  • Once you try to resign, your loyalty will be forever questioned.
  • Over the long haul, your counteroffer will be taken out of your earnings.
  • If the company falls upon hard times, you will be the first one out the door.
  • Often times, upon accepting a counteroffer, the company will have already started looking for your replacement.
  • An oft-quoted statistic states that 80% of all employees who accept a company’s counteroffer end up leaving (voluntarily or involuntarily) within 6 to 9 months.

So, how do you avoid the pitfall of the counteroffer? Here are the steps that we recommend at Accountants One.

  • Start with a resignation letter.
  • Do not delay – Waiting to turn in a notice is very stressful for you and your family. It is best to give your resignation letter on the day of your decision. Once you have it behind you you’ll be able to get on with your life.
  • Remain professional – Keep your eyes on what motivated you to make the decision to move on. Don’t let personal relationships hold you in a position that you have “grown” out of. And remember, there is no compelling reason to tell your existing employer where you are going to work.
  • Request confidentiality – Start by turning in your resignation to the appropriate manager, and then tell only those who will be effected by your absence. This makes your departure much less hectic.
  • Demand professionalism – Decent and well-managed companies don’t make counteroffers. Their policies are fair and equitable. Most see counteroffers as coercion. Help the managers to remember this fact. But also remember, that sometimes in stressful situations, people can tend to make poor decisions.
Top 5 Resume Tips

Top 5 Resume Tips

The Objective of a Resume is to get an Interview!

These are just a few of Accountants One’s suggested tips for a resume.

  1. Be concise – limit resume to 2 pages
  2. Use the Bullet Format – this is easy to read
  3. Avoid fancy fonts (typefaces) and page layouts
  4. Tailor your resume to the job description you are responding to — highlight important points or words, particularly those contained in the job description.
  5. Be clear in your writing; do not assume the reader will know what you mean. Do not include an “objective” at the top of your resume. This is risky, particularly if your objective is different than the job description or that of the reader’s.
Free A&A CPE: 2019 Tax Laws & Accounting Updates

Free A&A CPE: 2019 Tax Laws & Accounting Updates

Accountants One & Nichols Cauley partner to offer free A&A CPE.

 

Take advantage of the opportunity to network and earn 2 free credits of A&A qualified CPE. Due to limited seating and a strong response, we encourage you to register as soon as possible to ensure your seat.

MORE DETAILS

Join Accountants One and Nichols Cauley for a free A&A CPE.

Nichols Cauley & Associates will provide a distinguished panel of Managers and Partners with over 100 years of CPA experience to discuss changes in Tax Law and general accounting that may effect your business.

Topics include:

  • State and Local Taxes (SALT) – It’s not just Sales Tax
    • Determining the Sales Tax Nexus from the Wayfair Case
    • State-by-state changes for Economic Nexus and Thresholds
    • Evaluating considerations due to potential sales tax exposure
  • State Tax Credits
    • Retraining Tax Credit
    • Targeted Jobs Tax Credit
    • State Research and Development Tax Credit
    • Other Available Tax Credits
  • Federal Credits and Other Tax Deductions
    • R&D
    • WOTC
    • Cost Segregation Study & Depreciation
  • Cybersecurity
    • Steps you can implement to protect against cybersecurity attacks
  • A&A Update
    • Provide implementation and rules of ASC 606, ASC 842, and Lease Accounting
William Sammons

William Sammons

Partner, Nichols Cauley & Associates

Dave Musser

Dave Musser

Partner, Nichols Cauley & Associates

Denise O’Connell

Denise O’Connell

Partner, Nichols Cauley & Associates

Take advantage of the opportunity to network and earn 2 free credits of A&A qualified CPE. Due to limited seating and a strong response, we encourage you to register as soon as possible to ensure your seat.

Atlanta Business Chronicle Names Accountants One as a 2019 Best Places to Work

Atlanta Business Chronicle Names Accountants One as a 2019 Best Places to Work

July 16, 2019

Atlanta, Georgia

Accounting and finance recruiting and staffing firm, Accountants One, has been recognized as a finalist of metro Atlanta’s 2019 best places to work by the Atlanta Business Chronicle.

Finalists are based on surveys of employees at Atlanta-area companies ranging from 10 – 500+ employees. Quantum Workplace partners with the Atlanta Business Chronicle to measure ratings regarding work environment, culture, and other matrices. Rankings of the top 100 finalists will be announced at an awards ceremony on September 5, 2019.

Other recent honors from the Atlanta Business Chronicle include the 2017 Pacesetter. The Pacesetter award goes to the top 100 fastest growing business in Atlanta.

“It’s an honor for Accountants One to be recognized as an Atlanta best place to work,” says Dan Erling, CEO and President of Accountants One. “Our team is our greatest asset and truly makes the Accountants One difference. An organization is only as good as its people and fostering a fun and motivating culture that creates value for every team member is my top priority. The team’s dedication and commitment to service is something I am so proud of and allows us to serve both our clients and our candidates effectively.”

Accountants One provides contract, temp-to-hire and direct hire placements to clients across the Southeast. Clients ranging from Fortune 500 companies to entrepreneurial startups rely on Accountants One for high-quality accounting and finance talent. Their ability to attract an outstanding community of Atlanta-based candidates dates to 1973. To learn more visit, www.accountantsone.com.

Auditions for the 14th Annual Search for the South’s Funniest Accountant

Auditions for the 14th Annual Search for the South’s Funniest Accountant

Funny Accountants, it’s your turn! Do you have what it takes to be names the 2019 South’s Funniest Accountant?

When: Tuesday, August 27, 2019

Contact Lindsay Grimsley to schedule an audition time. All you need to audition is a one minute routine (can include a video submission to Lindsay Grimsley).

Where: The Alliance Theater – 1280 Peachtree St. NE, Atlanta, GA 30309

The final comedy show performance will be held on November 14th at Center Stage.

Who: An individual currently employed as an accountant or financial professional in the Southeast is eligible to participate.

Why: Proceeds from the event will benefit Junior Achievement of Georgia, which partners with businesses and educators to bring the real world to students, opening their minds to potential.

Prize: Winner receives an all-expenses paid trip to Las Vegas, and the coveted title of the 2019 Search for the South’s Funniest Accountant.

Visit www.accountantsarefunnytoo.com to learn more.