|How To Secure A Pay Rise |
By James Sweetman
Many of us would not like a salary increase? Very few I suspect. Statistics show that on average most people will get a pay rise of about 3.5% in the year ahead. If you think you deserve more than that, here's how to approach your boss. (And if you are the boss, then here's what to watch out for!)
The days of walking into your boss' office, or having a quiet word down the pub and saying you need a pay rise because John who works with you and who does the same job is earning more than you, or because you have just gotten married or because you have not had a pay rise in four years, are gone! The majority of firms still view staff salaries as an expense (some of the more enlightened ones view them as investments) and are therefore always trying to hold down spending, which means they are selective about increasing wages.
The golden rule for securing an increase in salary is proving that you are adding significant value which positively impacts on the business's performance and profits. In short, you have to demonstrate that you are a high performer and a valuable asset to the company.
Listed below are nine issues to remember if your intention is to secure an increase in take home pay. All of these tips are based on the assumption that you have a good working relationship with your boss. If your relationship is poor, then you have an even greater mountain to climb and you need to work on enhancing the relationship first, before the topic of a pay rise can even be mentioned.
Below are some questions worth reflecting on:
How are you currently creating value in your work?
What can you do to create more value? How can you add value to your customers, colleagues etc?
Write out 5 reasons why you are worth a pay increase? If you can't think of any, work out the reasons that would make you worth a pay increase in the near future?
Finally, remember threatening to quit is not a recommended strategy when seeking a pay rise for the simple reason that your boss just might accept your resignation there and then. Remember, no one is indispensable. Equally there are other jobs out there, which means that if you are not happy with your salary or how you are being treated then perhaps some discreet job hunting is on your agenda.
James Sweetman is the author of Graduate to Success and is a leading authority on Peak Performance. If you are ready to step into your potential, visit www.jamessweetman.com