One of the most uncomfortable aspects amongst employees can be tackling the problem of negotiation salary raises. If you’re lucky enough to work in a company that has yearly reviews in place, then you have the comfort of knowing that this is going to be addressed for you. However, a lot of people don’t have that luxury and sometime years slip by without any hint of a raise on the horizon.
This isn’t ideal for employee motivation and companies should really have a review structure in place. But if there isn’t one, you need to know how to go about asking for a raise. Now you can’t just walk into your boss’s office and demand more money. You need a plan and you need to know exactly what you’re asking for.
It’s also not a great idea to threaten to leave if you don’t get what you want, in fact you don’t want to come across confrontational at all.
Now you know what to avoid, you need to know how to approach this delicate subject. Here are 5 factors that come into place when asking for a salary raise.
Timing is important – what state is the company in? Have there been recent redundancies, or has the company been posting profits at year end? Know the state of the company you work for, if there has been people let go then the chances are asking for more money isn’t going to be successful. In this case you may need to start exploring other avenues and opportunities.
If however, the company is in good shape and you’ve been contributing to that, then there’s no problem at all with you discussing your salary.
It’s really important that you feel confident walking into this meeting with your boss. Don’t mumble or plead for a raise. Be confident in yourself and your abilities. Speak clearly and positively.
State your happiness in the success of the company and your happiness of having been a part of that.
Remember Your Accomplishments
It’s always a good idea to keep track of the accomplishments you have made for the company while you’ve been there. Have you saved them money? Landed big clients? Overseen large projects? It’s all helped to make the company grow and important to add in tandem with the point above.
Your happy with the challenges the company is offering you and you feel like you’ve taken on more responsibility and expanded upon your skill set. Your raise on salary will reflect this.
Know What to Expect
If you go in expecting or asking for a 10% raise, most companies aren’t going to be able to offer this. On a yearly basis, a person can expect their salary to raise 2-3%. Depending on your last raise, this is what you should be expecting. This is fair on both the employee and the company, and knowing this will put you in a good position if your employer asks what you are hoping for.
What if it’s a No?
Sometimes a company won’t be able to offer a raise, for a number of reasons. If you the company is in good stead then it might be time for you to start looking at new opportunities. What you shouldn’t do is secure an offer of employment elsewhere and try to obtain a counter offer from your present employer. Click here to see why you should never accept a counter offer.
If they have said no then why would you want to work for a company than can only magically make the money appear on the threat of you leaving?
Your career needs to grow and sometimes you have to realise that the way to achieve this, is by moving to a new company or taking on new opportunities.