One of the most challenging things for every employees is always asking for a raise. It’s always very daunting to show what you’ve got and demand what you deserve from your employer. Data never lies, based on the results of a 2019 study by The Harris poll, which almost 1000 American citizens was surveyed, 42 percent of employees said that their main career resolution for 2020 is getting a pay rise.
Having got my first job as a sales director to become the Chief executive of the 200-employee firm, I was on both ends of the negotiating table. As a leader, my goal is to ensure that everybody is appreciated and encouraged to follow whatever they want. However there are wise methods to get a wage raise, and very few people stop thinking things through.
Below are four things that workers must bear in mind just before demanding more money from their employer:
There is a ‘perfect’ time to ask for a raise
Timing is very important here. It is best to inquire during the regular performance assessment process. By then, the organization had worked through its budgets and found out how much funds it needed to reallocate.
There will be, still, a few exemptions. Maybe someone on your group just quit, and you took on more responsibilities. Or you might have been working below the market price at a small company, and now they’ve earned a big amount of funding.
It makes perfect sense at this time to ask your boss to step up your salary.
Do your research, but acknowledge your limitations
Yeah, we all would like to make $1 million annually, but the negotiations would be more productive if you know the market and organization requirements for your position.
Just before you enter into negotiations, just do some study on websites like PayScale and Glassdoor to see how others at your level of experience and job responsibilities are getting.
It’s difficult when a candidate comes to us and wants to ask for a wage raise that is much greater than what we typically offer.
If you were with your organization for quite a while, simply consider previous wage raises that you’ve got. If you’ve never been actually got more than 5 percent, simply asking for a 10 percent boost won’t work unless anything drastic has changed within the company or your position.
At my business, we have consistent wage bands for various positions that we discuss earlier in the interviewing process. And that’s difficult when a candidate comes back to the end and wants to ask for a wage that is much higher than what we normally offer. This rarely leads to a successful contract.
First prove your worth
Trust is your best weapon, however you want to stop being selfish. When people think of themselves and back that up with their acts, I’m more eager to fulfil their demand to raise them so that I can keep them satisfied and inspired.
Make sure you come to the table with evidence of the quality you add to the business. What are the outcomes you helped to create, the challenges you helped fix, and the revenue-enhancing ideas you contributed?
Confidence is your greatest weapon, however you want to stop being selfish.
It’s not all qualitative tests for me. It is important that you’re an optimistic player in the culture of our business. Are you an active member of your team? Will the others vouch for your work ethic or behavior? If you have nice recommendations or reports from your colleagues or superiors, print them out and bring them to your wage negotiations.
Your tone of voice can have an effect as to whether or not you get a wage raise
Worst approach you can approach your salary negotiations is with a “me vs them” attitude. You don’t give the business a lot of flexibility when you come in protective and digging in your heels.
If there’s one part of your request that doesn’t work for them, you’re more likely to get a flat-out no. But when you are open to debate, it is possible to work on finding an answer.
Keeping your mind open could mean being creative with what you’re ready to negotiate. For instance, if I can’t fulfil a salary request, I’m going to offer other benefits in exchange. When you’re able to meet people halfway, often they are more inclined to want to collaborate with you to find a solution that makes both sides happy.