Initiating a raise discussion leaves many people feel vulnerable and worried, but this can be a smooth path if gripped nicely.
Steps to follow to make sure your pay hike request goes forward efficiently:
1. Do your research
It all begins with research that makes it possible for you to present to your manager with a convincing case in your favor. So, you are required to know what the current rate is for those having your experience and similar position. Refer online resources, like the Bureau of Labor Statistics, or in books like The American Almanac of Jobs and Salaries by John W. Wright (Quill).
2. Present a case for yourself
Any type of negotiation session requires you to be equipped with the right amount of persuasive artillery. So, prior to venturing into your meeting, reminisce your time with the company and emphasize your accomplishments; how have you been a valuable asset to the business. Bring facts and figures that show that you have shined by employing numbers when possible. You can also design your accomplishments into a formal brief presentation that states each of your goals and how you have achieved them.
3. Be aware of your neighborhood
Times to request a pay raise differ at any company; for instance during the period of downsizing and cost cutting, you will not only be denied, but may also convey that you are not in harmony with the company's requirements.
4. Schedule plenty of time to present your case
It matters that you have required time to present your case, and that your manager has also gets time to think about your presentation. So, request a meeting with your superior that lasts at least a half-hour. Don't schedule your meeting on the 29th of the month, that's too late and not in tune with the monthly targets.
5. Evade pressure or demands
Getting into a meeting with the "if I don't get it, they won't get me ever" attitude will just convey to your company that you are inflexible. Always act professionally and, if your job is worth preserving, be open to listen to the company perspective also. Do remember to keep the meeting positive to make your exercise result positive.
6. Perks are not just monetary
If your company is financially vulnerable at this phase but you and your manager still agree to conclude that it is high-time for you to be treated for your performance, you can negotiate for other perks, like stock options, vacation time or non-monetary benefits.
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