Business
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.
Tagged business, Company, Employment, Human resources, Labour economics, Salary, Small business, Work
BloomaticAugust 15, 2012 at 7:47 am
That is usually a very complicated question. Many people risk their jobs on account of this issue. I think the most important is the context in which we make that question. We have to know very well what is the economic situation of our employer, and try to guess the chances of success. It is an important commitment, but we must move on solid ground. I think we should achieve a perfect balance between our achievements and our pay raise proposal. The rest depends on the willingness of our boss.
TashWordAugust 15, 2012 at 7:04 pm
It is a hard time to ask for a raise if the company is struggling.
It’s also important to factor in the benefits of your current position – maybe it’s close to home so you save time and travel costs, maybe it’s a great learning environment, maybe there are facilities like a gym for you to use.
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MoniqueSeibelAugust 16, 2012 at 7:44 am
I think this is very reasonable and helpful guide. Although, I’m my own boss at the moment, so it doesn’t truly affect me. However, in the past, as someone who is quite shy approaching such a topic is quite anxiety provoking for me. However, following this list and making a well-educated request is absolutely the best way to pursue a raise. The more you know, the more ammo you have to use to persuade.
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MouseAugust 20, 2012 at 4:46 am
This list is very useful and really well thought out! There are things on there that I would never have even considered before drumming up the courage to ask my boss. For example, practising with someone else what it is I would say .
Of course, as another commenter mentioned, it may just come down to how benevolent your boss is. After all, let’s face it, the majority of people feel they’re under-paid, often under-valued too by the folks at the top of what ever organisation it is they work for. But maybe, using a list like this will maximise your chances of getting a better deal for the work you do.
I suppose it’s all about selling yourself, your skills and their worth so a boss can see how great you are! It’s not just about being extra-nice to your boss anymore!
toughtrasherAugust 22, 2012 at 6:10 am
Interesting read, I may have to send this to some of my friends working at a different job than me. I don’t need a pay raise as I just recently had one and I used some similar tactics as posted here.
Preparing is the main key here, always prepare yourself.
QuatAugust 23, 2012 at 12:13 am
This is an excellent article that sums up very well important factors to consider when planning to propose a pay raise. Unfortunately, I feel as though this is a rarity in today’s economy to actually be able to go through with it considering just the financial status of the company alone. I hope things improve in the coming years when I intend to look for a more permanent position. I will certainly come back and glance at this to start my list of things to check on and look out for when applying for positions and negotiating salary. I’ve watched several colleagues lately going in and out of the job market. The most difficult point is negotiating salary it seems, especially with multiple offers on the table.
dhintakaAugust 23, 2012 at 5:13 pm
A fantastic write-up that deals with each & every thought that a person goes through before talking to his or her boss or the HR head /team. Looks like the author have taken a keen observation of the present time & has then come written these pointers. I really like the point where the author speaks about first analyzing one’s own worth / value before reaching out for a raise. I also believe that if we have made ourselves indispensable for the company, then company will moreover, know our value &, therefore, will not like to lose that employee. Thank you so much for the article. It is well written with many wise advises in the end.
xStylezxAugust 25, 2012 at 5:31 pm
This is an excellent guide! Many of us, myself included, don’t know exactly how to go about asking for a raise in a professional manner. This article clears up a lot and steers in the right direction. I think if we take pride in our work and show how valuable we are in our company as an employee, our boss should be kicking down the door to pay us more, just so we keep going that extra mile.
KennyKAugust 26, 2012 at 2:10 am
It’s hard to time this right. If you work hard and make sure you perform good, it will come I think, unless there are financial constraints. You can always have a talk with the finances department, hear how things are going, if there’s room for raises etc. Right now I’d rather have a stable job, and I believe raises might be more appropriate when things go really good.
anonamossAugust 27, 2012 at 6:09 am
This is a really great article, and it has really practical tips. I think the most important tip would be to really take a look at yourself as a worker or as you stated “Determine your true worth as a worker”. I’ve met so many employees who felt that they deserved a pay raise, but they hadn’t accomplished anything that really set them apart from the other workers. They also seemed to be satisfied with the minimum effort.
DazAugust 29, 2012 at 9:08 am
This is a great guide with lots of good advice, it’s good to see that companies are beginning to start to offer pay rises again now that the market has begun to settle / recover slightly.
Unfortunately sometimes the only way you will ever be able to get a significant pay rise will be to move to a company that actually values the skills and knowledge you have.
Frustratingly, the second you hand your notice in is usually the time they manage to find that extra few thousand pounds in their budget to try and convince you to stay!
gerkmeisterSeptember 4, 2012 at 7:14 am
These are some good guidelines to follow, and I could have used them twenty years ago. It can be hard for a lot of people like me who are not as assertive and maybe don’t value their worth to the company as much as they should. I would document everything you do for the company everyday. Selling yourself on your worth first will make it easier to sell your raise to your boss.
vida_llevaresSeptember 4, 2012 at 4:41 pm
In a way, false humility has truly been detrimental to the growth, advancement and motivation of a lot of people. Most of those who ardently want to ask for an increase in pay hesitate to do so out of fear for getting fired. I guess, beefing up your credentials would be the best thing to. Once your credentials are as solid as a rock, you will not get fired by asking for a raise. Plus, you may not even need to ask for it anymore.
ohiotom76September 9, 2012 at 11:23 am
I never really had to ask for a raise at the places I’ve worked since they typically did annual reviews and this is when you would receive one if you were doing well. But I suppose if your role in the company was changing and you were taking on more responsibility mid year, it would be a good time to ask what this means in terms of your salary.
zilyasSeptember 14, 2012 at 6:49 am
I think a lot of people fear asking for a raise because they’re afraid of getting fired or penalized in other ways at work. This fear is probably greater in people who are passive personalities, and do not possess the confidence necessary for asking for what they want. Your post is very reassuring, and offers great insight into how an employee can prepare to ask the question.
PaladinSeptember 24, 2012 at 5:42 am
If you truly believe you deserve a raise then I think it will be easy to get one if you explain why you are an asset to the company. Remember, never sell yourself short.
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