How To Ask For That Much Needed Pay Raise Without Being Fired
As we continue to face tough economy, maintaining a present job is already challenging when huge percentage of lay-offs are here and there, but how do you ask your boss for that much needed raise without being fired? Proper timing is the best move to consider if you want to get positive results regarding this issue with your supervisor or HR manager.
Below are 6 effective ways to guide you before making the first move in asking for a wage increase:
1. Assess the company’s present financial standing
It is a known fact that most companies and other businesses are facing major financial crisis at the moment. Assess first the current financial standing of your company. Try to observe if there are massive lay-offs happening to your firm. If you see that your company is trying to minimize new hires and are maximizing the work output of their current staff, then, the issue on pay raise is not advisable at this point of time. Maybe you could put hold this pressing matter for a year or two, see how your company’s financial status improves and from there find the courage to voice out your concerns on salary increase.
2. Determine your true worth as a worker
Before you make a move in asking a salary increase, maybe you should assess your true worth as a worker. Count the number of years you have been with that company as well as the current skills you possess. Check also the prevailing pay rate for the position you hold at the moment in the labor market and analyze if you are getting the right compensation package for your expertise.
3. Conduct surveys
It is also a wise move on your part if you conduct surveys with regards to compensation packages being offered in your community. Read local ads for job postings similar to your present work and find out their possible salary offers. You can visit employment agencies who are giving free skills assessment, so that you have a clear analysis of whether you deserve a pay raise or career advancement.
4. Be open to other benefits
Keep yourself updated with any news or announcements circulating in your office. There might be offers for extra pay for doing overtime work. This could be your chance to get yourself be noticed by joining this kind of set-up and eventually voice out your concerns with salary increase. Besides, any extra income is better than nothing at all. Be open to other benefits being offer by your company such as gas allowance or free meals because when you sum up all these non-cash benefits you will realize you are getting more than a pay raise.
5. Show your best assets
Make your boss feel that you are an indispensable employee in your department. Show them your best assets by contributing effectively to the entire success of the firm. You will be surprise when your boss rewards your hard work with a salary increase without you personally asking for the raise.
6. Prepare your pay raise proposal
Take your time in preparing your pay raise proposal. Note down all your concerns, your major contributions and skills as a worker asking for an increase. You could even practice your future conversation with your immediate boss or HR manager about the salary proposal, so that when the actual scenario sets in you have the confidence to speak clearly your motives. Remember to present yourself in a calm and professional manner without being too pushy or demanding. Never give ultimatums by telling your boss that you will resign if they could not give your pay raise demands for they might end up making a decision to let you go if they don’t have the financial capacity to comply with your proposal.
Right timing counts most in any dealing matters such as the issue of asking for a salary raise. If you think that this tough economy is what prevents your employer from giving you the much needed pay raise, have the patience to wait and for sure in the end you will reap greater rewards when your company is already financially capable. Think logically what is important at the moment, a secured job with a modest salary or you ending up with losing your source of income in this economic crisis. Proper negotiation is always the key to arrive to better terms that both parties could benefit, you getting paid fairly while your company getting the top quality output from your hard work.