Working hard to get a raise? Every employees wish to augment their wages every year but not all are given the chance to be offered a salary upgrade. Depending on your company policy and your contract, getting a raise varies from one company to another. Most common measures are high performance appraisal and tenure of office. Asking for a raise is one of the most awkward moments everyone has to go through in the workplace. That is why most employees shy away from attempting to do it and just wait for their companies to offer them a salary upgrade instead.
However, if you feel that you’ve given a stellar job performance and you think it is your time to get a raise but is afraid to ask, here are some tips on how you can negotiate for your salary upgrade.
Know your worth
Before you storm the office of your boss and demand for an increase, take time to do a self-assessment first. Did you perform well in the work place? Have you hit all your KPIs and targets? How much have you contributed to the company’s revenue? Answer these with all honesty and write it all down. Arm yourself with realistic figures so you will have something to bargain for during the negotiation.
Do your research
When you negotiate for a raise, it is better that you have a knowledge of how much your particular industry pays your job. As salary differs from different industries, you should be able to know how much is the salary range of employees in your industry. That way you will know if you are expecting too much or aiming too little.
Practice your negotiation talk
The reason why we feel awkward asking for a raise is that we are at lost on how are we going to talk about it with our boss. If you are not comfortable with this kind of discussion, might as well practice on how to deliver your piece. You can ask someone close to you (a friend or a family member) to help you practice how will you approach and how to say your piece.
Is it the right time?
So you are up and ready to discuss your salary upgrade with your boss but is it the right time? As I learned from experience, the key to a successful negotiation is knowing when to “drop the bomb”. If your company is experiencing financial issues or having a lot of stress coping with completion of projects, do not bring up talks regarding salary increase. Likewise, do not insist with the topic if your boss is mad or stressed out.
Listen with open ears and open mind
You finally get the chance to get your boss to the negotiation table and you have delivered your speech, now what? Don’t expect your boss to give you a positive yes even if you’ve loaded him with your accomplishments. If he gives you feedback, positive or negative, just listen. Be open to criticism. Remember that he spared you some time to listen to your piece, you should do the same for him.
Salary upgrade is not always monetary. If you think that a monetary upgrade will be slim, negotiate for benefit adjustment instead such as a more flexible work schedule, a wider coverage of health benefits, additional leave and other company perks.
If at the end of the day, your request for a raise is turned down, be professional and let the management explain. They will have a good reason why they cannot accommodate your request just yet. Do not do sour graping. Accepting defeat graciously and professionally is one way of showing the bosses that you are mature enough to handle difficult situation. They will definitely note it on the next appraisal.
There is a saying that if at first you did not succeed, you can always try again. If your request is turned down, do not make it as an excuse to be lazy at work. Instead make it a motivation and work even harder to show your boss that despite the setback you are still willing to do your job.