Some companies give cost-of-living increases. Others give automatic pay increases annually. Still others give pay increases in the form of bonuses (that are often undeserved). When you want the pay raise that you really "deserve", you need to use these tools.
1. Most importantly - you must ask for the raise.
2. Calculate and present your worth / value to the organization. How much did you do in sales in the past year? How do you rank among your co-workers? What was the overall dollar value of your performance?
3. Present the market value for your position / job title in your geographic area. You can use web sites like www.salary.com to find a very rough estimate of your market value. A better way to do this would be for you to call other businesses and talk to others who do your same kind of job. When you share salary information with others in your industry, you give those other people tools that they can work with and this will probably convince them to talk to you about salary. This is a form of salary survey like salary.com uses - only on a smaller scale. (Note: your company probably has policies on discussing salary with your co-workers. Don't violate this policy and get yourself fired. That's why I suggested talking to people in other companies.)
4. Be willing to take on new responsibilities that will increase your future value to the organization.
5. Ask for more than you expect to receive. This gives your supervisor room to negotiate. When you concede some of the money that you're asking for, you supervisor gets to "win" when he/she gives you less that you ask for and you actually "win" because you get a nice pay raise. This is a proven negotiation technique that works. Even if it seems silly, do it anyway.
6. Don't expect to get your answer today but know that the longer your supervisor takes to "think about it", the less likely you are to get what you want. The better your presentation of facts and the more likable you are already, the more likely you are to get resolution sooner than later.
7. If you don't get an answer today, you must always ask, "what day can I expect you to have a decision on this matter?" It's important that you have a mutually agreed upon time line. The longer it takes, the less likely you are to get the result you deserve. So, get a firm deadline.
8. If your supervisor is required to take your request to a higher authority, ask them to take a stand for you. Here's what you have to say: "Considering my high value to the organization and the market rate that is above what I'm currently getting paid, will you recommend to your boss that I get my requested pay increase?" When you get the supervisor to commit to helping you, he/she will be very likely to make a strong effort to do so, if for nothing else, to remain consistent with their agreement to help. This is a powerful influence technique.
9. Ask for objections to find out what, if anything, would prevent you from getting your raise. When you don't know what the objections are, you can't change anyone's mind. You need to know what your supervisor is thinking if you want a good outcome.
10. Tell the supervisor that they already agree with your position. I love this one the most. When you are presenting all of the facts, you tell your supervisor, "You'll agree that I'm being paid less than market value, especially considering my excellent production." Or, you might say, "Our company values high performance, that's why you'll agree that rewarding my performance is the right thing to do." Or, "I'm sure we agree that high performance deserves high reward." The key is that anytime you can emphasize points of agreement with your presentation of facts, you will significantly influence your situation.
Finally, many people think that it's a good idea to threaten to quit if you don't get what you ask for. What a bad mistake! Never, ever, ever do this unless you are ready to walk out the door right now. Threatening to quit does not win you favor with your employer -present or future. If your value is not perceived as being high, you are probably punching your ticket with the threat of quitting. Even if you were previously perceived as being valuable, now you have left a bad taste in your employer's mouth and that's a devastating result for you. Threatening to quit is only going to work if your employer is short on other talented people in your position, but only in the short-term. As soon as someone else is hired, you could be fired. Lastly on this topic, never threaten to quit unless you already have another job lined up. You might just be asked to leave right then.
Don't make yourself jobless when you're just trying to get a raise. Instead, follow these 10 tools, stay employed, and get the raise you deserve.
No comments:
Post a Comment