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Cost Of Living Pay Increase

How to ask for a raise and get the salary you deserve

Computing Cost of Living Pay Increase

The quality by which we live our life depends much on our income. We have to have a regular source of livelihood in order to meet the essentials of food, clothing and shelter, and other necessities for health, education and entertainment. The cost of all these things is continuously changing over time and varies according to locales. Salaried employees and workers, as a result, every so often need to negotiate for a cost of living pay increase. This raise is so important that labor unions always endeavor to include the cost of living issue in talks for collective bargaining issues. Sometimes, a disagreement with management on this issue could result in deadlocked talks that may result in a strike or work slowdown or completely stoppage.

The many factors which influence a cost of living pay increase can make the amount to be granted, if any at all, difficult to determine. The parties at the negotiating table have first to agree on the indexes to be used in determining the rate of increase. There will be haggling on the amount of the increase as collective bargaining agreements have to be projected into the future, anticipating how much the cost of goods and services will rise in the coming years. As a result, negotiations may often drag into months which in most cases, the talks become counter-productive to both the employer and the workers. Government intervention through reconciliatory meetings of both parties sometimes would be necessary to resolve the issue on cost of living pay increase.

Such a difficulty in negotiation for cost of living pay increase is similarly experienced by the non-unionized employees. Negotiating for this raise may even be doubly difficult because there is no labor union to bargain for them. Nonetheless, an employee can still get what he or she wants to keep up with the rising cost of maintaining his or her standard of living. This can be done through meticulous preparation prior to asking for the raise from an employer. Extensive research has to be done on the cost of living indexes both current and forecasted rates, as well as on the cost of living pay increases that some unions may have achieved. These statistics are often published by government economic agencies and private research groups, and are picked up by the mass media for public appreciation. Keeping up to date on business news citing such statistics will help a lot in negotiating for a salary increase.

Go online for a quicker way of gathering these inputs for a salary negotiation. Many websites will yield not only this information but other tools like salary calculators which can hasten computation of the cost of living pay increase to seek. One website worth a visit is that on the e-book "The Ultimate Guide for Salary Increase. It contains several salary calculators along with other tools and methods useful in computing the amount of raise to seek including that portion for cost of living. What`s more, it provides step-by-step guides by which to package this inputs for a stronger presentation at the bargaining table.

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