One of the many factors that leads to the success of any company is the people who work for it. Skilled and dedicated staff are a priority for businesses who want sustain positive image among consumers and generate maximum revenue. If employees put their best foot forward to produce results, they should be indispensable. However, without an adequate salary, An employee will likely fall into routinely substandard output. Worst-case scenario, they will seek other job opportunities with companies that pay a more competitively. If you feel underpaid for the work that you do, the best solution may just be to ask for a raise.
Have you been a loyal employee? One that has consistently exceeds your company’s expectations? If you produce high-quality work, drive sales/revenue, showcase unique skills, a positive attitude… even taken the initiative to seek out professional development, then you definitely deserve a raise. You’ve probably though about it already and maybe you aren’t sure how to ask for one. Before you go to your boss, consider these 11 important things your boss wants you to know before asking for one.
Act the part
The best way to fast-track a raise or promotion is taking on more responsibilities and implementing careful time management. Before you ask for a raise, make sure you have a clear understanding of your organization’s core strategy, and align your priorities with that of the company.
Talk to your manager about your goals and ask for feedback
Doing this early and often should give you a clear perspective on what you need to do in order to set yourself up for success. You’ll also know how you can improve in your current role before you ask for a raise.
Timing is critical
If you are planning to walk into your boss’s office to ask for a raise, consider your tenure first and if you have been on the job for over six months, then it’s time to initiate a salary conversation because you’ve had ample time to prove yourself as a valuable asset to the company.
Know when the salary review process will be
If your company’s fiscal year begins January then the salary review conversations should be around November. Meaning, you should ask around the time-frame when salary increases are decided.
Practice how to ask for a raise
Always be prepared to make a strong case about the work you have put in that you feel validates a raise. This may include tangible evidence such as achievements records, congratulatory emails or notes received from colleagues, clients or your manager about your excellent work.
Salary Percentage
Research salaries in your position and adjust the standard to invclude what someone with your experience and skills typically makes. When you have a strong picture of where your current salary stands in relation to your field, you will have some idea what to ask for. The increase could be as much as 10%-20%. At least you could use that as a starting point in negotiations.
Communicate your wins proactively
Be a star performer and let your work speak volumes for you. Ensure that your boss sees that you are consistently exceeding expectations in your current position and job responsibilities. Consequently, they should acknowledge that you deserve a better title and salary.
Believe that you’ve earned a raise
Always bear in mind that an employer will only give you a raise based on performance, and not on personal reasons. A rise in rent, or other escalating costs is not a valid reason for a raise. Stick your output and performance when asking for a raise; and most importantly, demonstrate the value you bring with your history of accomplishments.
Know your value to the company
It is vital to carry out some research to determine your market value. This is related in a sense to salary trends for those in your line of career or similar job titles. However, it is not the sole factor in determining your value to the company. Have an understanding of your contribution as it relates to the bigger picture for the company you work for. If your request for a raise is unrealistic the best you can hope for is a conciliatory counter offer that won’t make much difference in your take home salary..
Create a competitive environment
Even when you have every step, raise, and promotion mapped out, there will be times when you simply don’t perform well enough to get ahead. The trick is to stay motivated and competitive. Build up your team and encourage competition, to raise performance levels. It will keep you on your toes and reflect well on you the next time you and your boss review your salary.
Brace yourself for a NO
As raise-worthy as you are, your manager may say no, which is why it is essential to have realistic expectations. Therefore, be ready to listen to your manager’s reasons for the denial as you may pick up valuable information that can positively impact your growth within the company, including your relationship with other colleagues.
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