While coming to the end of my 12month contact with my current employer I’ve been attending a number of interviews.
About 1 week ago I received an offer from company A, the offer was decent, I signed the contract and handed in my notice.
Fast forward 1 week. I received an offer of employment from company B, this offer exceeded Company A in all areas, I said I would need time to think their offer over.
In hindsight I should have done the same for company A.
After sleeping on this I’ve somewhat decided I would like to work with company B however don’t know the right way, or even if there is a right way, to inform company A.
The contract signed states that during my probationary period I can terminate employment by giving one month’s notice. There isn’t anything else however contained within the document I can see that would cause issues.
What is the best approach to inform company A that I will be unable to start my role?
Edit1: This question is based upon UK companies
Edit2: It’s been flagged that this question is “off topic” therefore I have removed the section of this question that requests input from a contractual perspective. It's now purely just how best to approach company A with this news.
Update1: So over the last 24hrs the following has occurred.
I spoke with company B and turned down their offer stating my situation, 20 min later they called back with an increased the offer. (Note that playing the companies against one another was not my intention)
I’ve now spoke with company A and told them I will stand by the contract if they would like however I would hand my notice in on the first date of employment. They are running the details past HR however was told by recruitment that they don’t think the company will want me to start.
Update2: Just heard back from company A and they are able to release me from my contract to peruse the other role.
Thanks to everyone for taking the time to respond, the additional input really helped.