Are you on track?
[Image credit -Flickr]
Do you feel it is time for you to receive
more compensation due to your contribution to your company's profits? The time
has come for you to stand up for yourself and ask for what you deserve! The
following are some key points to getting the compensation you need and deserve.
The first question that comes to mind is, "How much of a raise do I deserve?" The answer to that question might require some research to find out the typical salary for your type of position, checking the newspapers classifieds for similar jobs, or even checking the Internet on such sites as Salary.com. You do not want to ask too much so your boss thinks you are not cooperative, but you also want to maximize your potential for the salary increase.
Now, you need to make a list of all the reasons why you deserve this raise. What have you done in the past that helped the company to achieve its goals? What part did your efforts play in landing a new client, and so on. Have you completed any extra schooling that will benefit your employer? Any achievement that you have accomplished that helps your employer or company will be put on this list.
You must temper your request with good timing. It would not be a good idea to ask for a raise when an announcement of company profits being down was just released. If you can accomplish it, the best time would be right after your extra effort has paid off for the company in some way. Maybe your company has an annual review of your performance and you can bring up the request at that time, but, remember, have your ducks in a row regarding your contributions to the company's bottom line and your efforts that helped the company achieve a goal of its own.
Ask the boss for a scheduled appointment to discuss this matter when the phones won't be ringing and people won't be stopping by his office. You need his undivided attention in order to make the best presentation of your case. Usually mid to late afternoon is best.
Practicing what you are going to say might be very helpful. You need to act as if you totally deserve this increase and that you are not "begging" but have the right to this increase because of your input to the company's bottom line. Maybe practicing in front of a mirror would help you to show confidence. You will need a smile on your face and a neat appearance. The explanation might go something like this: "The raise would not be a loss for the company, but more like a reward and a motivation to a valued employee." Be prepared, however, for objections and have an answer for them so that your boss will see that you can problem solve and have facts to back up your position.
One other key point to getting the raise that you want is that your NEEDS do not justify a raise, your ACCOMPLISHMENTS do. The fact that your child has hospital bills or that you want to add a new deck to your home is not going to get you the raise. The employer is looking at this raise from his company's standpoint and how it can benefit them. You have to show how your accomplishments are along the same line of thought.
Do not threaten to quit if you don't get the raise. First of all, that seems desperate and second of all, it puts you in the spot of seeming to be disloyal. If you do have to stay at this position, you do not want to jeopardize future raises.
If you do not succeed at the first try, do not give up. Present your case again when the time seems right and meanwhile continue to document your contributions to the company's bottom line. Knowing that you are looking for a raise, a good employer will possibly try to work that into a future budget. Continue to keep the lines of communication open with your boss on your career path and before you know it, you will get the recognition you deserve.