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What To Do When Negotiating For A Raise

What To Do When Negotiating For A Raise

Having a job is more than simply applying professional knowledge, but incorporating some arts and life skills as well. You see, everyone wants a job, and once you get it, everyone wants to keep their job. But, nobody wants to remain in the same position earning the same salary forever. You want to be promoted, grow, meet your needs, etc. But not every employer will give you a raise on a platter of gold. Sometimes, you have to take what you want, whether it is being offered or not. But to negotiate a raise, you have to ensure that you are prepared for the intricacies. Here’s how to negotiate a raise:

Photo credit: Pulse

Track Your Accomplishments: If you feel a raise is in order, then most likely, you would have recorded some achievements in the company. It doesn’t have to be some huge recognition award, but as long as you have been able to complete projects, meet your KPIs, and contribute in some way to the growth of the organisation, then you are qualified to say you have achieved something and over a period of time, that something with grow into some things and you will deserve to be rewarded in some way. In this case, the reward we are looking for is a raise. So the first step to achieve this is to track your accomplishments on a regular basis. Get a journal, and begin to note major projects and successes, or an itemized spreadsheet or calendar.

At the beginning or end of each week, review the meetings, appointments and projects you were involved in, and summarize them

Over time, these documents will add up to tangible evidence of your business value, and can help quantify your value to the company based on metrics and outcomes that are most important for your organization.

Research: To know how much you can realistically ask for, you need to know what the industry standard is for a job of your position. Fortunately, this information is easily accessible on the Internet. Check the general pay scale or average salaries for your position in your location or country. This can help you determine a reasonable amount of salary to ask for while discussing your raise.

Consider other Options:

There’s no guarantee your employer will be amicable to your raise request. And even if they are, you could end up unable to settle on a number. In situations like that, it helps to have some alternative benefits you may accept in lieu of money. Here are some examples to consider:

  • The option to work from home for one day or more per week
  • Different hours or a more flexible schedule
  • More paid time off
  • Stock options

Also, it could help to have some other job offers at hand, incase your employer becomes vindictive about your request. But do not be deterred. It is your right to ask for a raise when you feel like you deserve it. It is their choice, what they do with the request, just as it is your choice to either leave the organization for a better place or not.

Pick the right time for your meeting:

It is not enough to go pompously to your employer or manager’s office to demand a raise because you deserve it. It is also reasonable to pick the right time for your meeting as well as the right approach. Timing is a big part of getting a successful raise. If you meet with your manager when they’re under the gun or you ask for a raise after a round of layoffs, you’re shooting yourself in the foot.

The ideal time for a meeting about a raise is when your company is doing well and after you’ve demonstrated what a valuable employee you are. For example, if you recently took on a larger workload or led a successful project, it’d be perfect timing to talk about a raise.

Practice Your Speech:

The best public speakers practice often before a speech, and if you do the same, you’ll be much more confident and prepared when you ask for your raise.

You could create an outline of your talking points when addressing your manager. For example, you could break your request down into three parts:

  • Your accomplishments – Go over the positive feedback and metrics you collected earlier to demonstrate your value.
  • Your plans to help your employer – Explain what your future plans are to benefit your company.
  • Your raise request – Present the salary range for your position and tell your manager you’d like to increase your salary to *** naira per year/month.

It is time for your meeting:

It is safe to say you are now prepared to ask for a raise, so go in there and do that. Schedule a meeting with your manager, and when you meet with them, dive into the request you prepared earlier. Have a positive mindset, be smart but nice, keep a smile on your face. It is like doing a job interview all over again, but this time, you have the upper hand, because you hare already in the organisation. Be prepared to work around any objections they have. If they say there’s no money in the budget, you can propose the alternatives you thought of or ask when there will be money for your request.

The best-case scenario is that your manager approves your raise request right away, but more often than not, it doesn’t go that way.

You may not get an immediate increase, but if you do this right, you should at least get a strong idea of what your employer can do for you and when they could increase your salary.

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