Getting A RaiseHow to ask for a raise and get the salary you deserve
You will need perfect timing and preparation in order to have a quick and smooth sailing bid for a salary increase. Negotiating a raise from an employer is not a spur-of-the moment thing even if you already have the tenure with a company. Your timing has to be in synch with some factors that are conducive for getting a raise. One of these factors which will dictate the advisability of seeking a salary increase is the company`s policy on performance reviews. The policy for most companies is an annual performance appraisal, and may be the only window of opportunity for you to bat for a salary increase.
The fact is you have a long time to prepare for this yearly opportunity. By doing your job well during the period in review, you will boost your chances of getting a raise. Concentrate on your assigned tasks and ensure that these are performed well within the required company standards. Better yet, strive to exceed whatever standards have been set in the execution of your functions. An outstanding performance is your ticket to a smooth negotiation for an increase in salary. The bigger the impact of your achievements is, the more likely it is for you to get the maximum raise allowed for your position.
A major contribution to the company`s business objectives can even lead to a job promotion, which in effect accelerates the performance review, leading not only a substantial raise but also to a higher position. Do not shun taking difficult job assignments or postings. View them as rare opportunities for major job accomplishments that can be stepping stones to getting a raise faster than what is usual.
Another factor which can help you ride on the opportunities of getting a raise is when the company is enjoying a brisk business. When a company is hitting record high sales and profitability, it is the best time to ask for a salary increase. A sales and profit bonanza is an indicator of employee productivity and efficiency that management often rewards to further motivate the workforce of the company. Be sure that you are abreast of the company`s financial stability which can indicate if the timing is perfect to ask for an increase. Likewise, be aware of how your function is contributing to the overall performance of the company. If you can quantify those contributions in money value, so much the better as this will clearly show your worth to the company.
You will need some tools to stay on top of monitoring your performance and updating inputs for negotiations in getting a raise. There`s an e-book. "The Ultimate Guide to Salary Increase", that was precisely written to address the need of documenting employee accomplishments. Take a tour of the link at the bottom of this page to learn more about the templates and worksheets which are useful for consolidating inputs for negotiating a salary increase. Additionally, the e-book has a complete presentation roadmap which will make negotiating for a raise a fast and easy process.