Improving our finances isn’t all about saving money and reducing expenses, we should also look for ways to increase our revenues. For employees, this could also mean getting a pay rise. There are strategies that we can apply to make sure that we obtain it. In many cases, getting a pay rise can be quite difficult and tricky. Unfortunately, if we don’t ask for it, we won’t get it. When negotiating pay rise, we should do it with the person who has a direct authority to do that, so we can provide direct good impression, instead of having our negotiation results relayed from someone who is delegated to perform the negotiation.
In this situation, we need to identify the right person and make an official appointment with him. In smaller businesses, it could mean that we need to the actual owner of the company. In many cases, we shouldn’t forewarn our boss about the kind of conversation. This could allow our boss a time to build his/her defense. When talking about pay rise. We should focus primarily on our performance and we need to assure bosses that we deserve a pay rise. Before the negotiation we should decide on the realistic amount of pay rise and inflate it slightly to give a room for negotiation.
During such a negotiation, our boss will ask about the figure and the boss may try to downplay things. This will allow our boss to negotiate for lower amount. Overall, the negotiation process will be smoother if we are ready to give, other than taking. When asking for pay rise, we shouldn’t mention anything about our personal finance situation, such as the need to pay medical bills, credit card debts and mortgage. These factors don’t hold any kind credibility among bosses. We should decide on our strategy and we should go over the appropriate wording. We may need to repeat the conversation in front of the mirror.
We need to guess how our boss may counter our request. They may have specific objections and it is important to anticipate this problem. In general, we should come back at our boss with purely legitimate answers. However, we shouldn’t be too pushy and we should be professional and keep calm all the time. Asking for a pay rise is acceptable if we can convincingly show that we are being paid under the industry standard. However, we should consider whether our skill, experience, position and responsibility are equal to other professionals that we compare.
It is also important to make sure that just before we ask for a pay raise, we need to turbo-charge our efforts. If boss sees that we have impressive productivity, it would be quite easy to gain a pay raise. We should also need to help out our colleagues, offer solutions, suggest new ideas, offer to work late and socialize with our boss. It is also important to network with other employees across the company, including those from other departments. By doing these things, we should be able to stand out from the rest and pay rise is easier to achieve.