Average Salary IncreaseHow to ask for a raise and get the salary you deserve
Here`s a piece of good news: the signs of an economic recovery will be felt sometime in mid-2010. The sad reality, of course, is that the world economy remains in a sorry state. The unemployment rate trends the double-digit level; job opportunities remain scare and wages are generally static. Many employees are wondering if they could get at least an average salary increase; others are worried that they won`t get any raise at all, and not a few still are hounded by the nightmare of being laid off.
There`s still much to hope for amid such lingering uncertainties. Employees remain in a position to get an average salary increase or even higher despite the economic. As mentioned earlier, an economic recovery now seems for real. Many economists believe that they have seen the light at the end of the tunnel. Although some pessimists may argue that what forecasters are seeing is an oncoming train, there are high hopes that the economy will be experiencing a turnaround starting from the middle of next year. For example, the current credit crunch is expected to ease up by mid-2010, with banks increasing their loans and stimulate business and industry growth. Expenditures on capital goods will be among the early beneficiaries of the increased bank lending, and thereby provide some stimulus to production and the labor sector.
Employees as a result are in a position to partake in the immediate benefits of the turnaround. This could mean having the opportunity to be granted an average salary increase or even better. To be able to get a pay raise, what employees should endeavor is to stay the course, be more productive and contributory to the profitability and growth of the company they work for. In times of economic crisis, company managers are always on the lookout for the C players in their roster who not only fail to do their share for the organization but also threaten the stability of a business venture.
It is still performance, therefore, which will dictate whether an employee will get an average salary increase or not. Those who are weakest in performance, as per a survey of this year`s wage increases, are likely to get only a 0.6% raise. Those with an average performance have been forecast to be getting 3.3%, while the real achievers stand to receive an increase averaging 5.6%.
It goes without saying, of course, that there has to be an adequate documentation of the employees` performance within a given period to determine each individual contribution to a company`s business objectives. Performance appraisal forms from a firm`s human resources department are usually the main documentation for this purpose. It would likewise help an employee to have his or her own tools and methods to track job performance, and hence get a better crack at getting more than the average salary increase. A link at the bottom of this page provides access to an e-book titled "The Ultimate Guide to Salary Increase". Try this e-book as a resource for the record-keeping devices which can buttress a presentation on some well-done jobs that merit a fatter pay envelope.