Women work for free for more than two months of the year because of the gender pay gap. To help women fight for equal pay on International Women’s Day, we want to provide some support and advice.
Asking for a Raise can take you completely out of your comfort zone but in today’s economic climate if you don’t ask you often don’t get what you think you are worth. Here are some tips on getting that raise you feel you deserve from Instant Offices:
How often should you expect a raise?
Let’s face it we live in tough economic times at the moment. In the past it used to be the norm to expect a raise once a year, that is no longer the case and it’s typically up to you to request a Salary review.
Preparation and planning
Determining how much you should earn is not easy but there are helpful salary calculators that will help determine the range you should be expecting. The other opportunity is to look for job adverts that cover your skills and experience to get a benchmark. If you do that you need to add an element of realism to the process so don’t set your expectations at the highest salary, pick the average across the job ads you have researched.
Once you have a figure in mind go through your achievements of the past 6 months and identify how they have benefitted the company. If you have changed the way your company does something which has resulted in a cost saving, estimate how much that could have been. If you have helped win new accounts then having the amount to hand will help too. It helps steer the negotiation phase away from cost and towards value.
Timing is everything
Waiting for your annual review may also not be the ideal time to ask for a raise as the budgets for the year may already have been signed off. A rule of thumb is to start talking to your boss about 3 – 4 months before the annual review. Try and gauge the financial performance of the company and time your request accordingly. If you work in a small business asking for a raise the day after the company loses a large account will come across as insensitive at best. Keep your ear to the ground for profit announcements or large client wins to time your approach correctly.
There are however other instances when it’s perfectly acceptable to ask for a salary review regardless of company performance. These could be if the team has been downsized and you need to pick up more work as a result or if you were promised a salary review at a point in time and that time has passed.
Bringing the subject up
This all comes down to what type of boss you have. If they are forthright and direct you can ask them for a meeting to discuss your current salary. If less so then asking “How do I go about chatting about salary?” may be the best approach.
Ideally you will have arranged a meeting for the discussion where you can present your case and get their initial feelings about it.
Make sure you come across as well prepared, highlight elements from your preparation that are in your favour and discuss them openly. Highlight your loyalty towards the company, your achievements over the last year and how they have positively affected the company. It’s important that you stay calm and considered and accept feedback from them before negotiating further.
It is often best for them to suggest a number first as that may well be higher than you were prepared to settle for. If it’s lower then counter offer and suggest to a compromise between the two if you feel that is reasonable.
What if it’s a no?
It’s always hard to be pushed back on something but don’t get discouraged. It’s an ideal opportunity to ask “What would I need to do to get the raise the next time?” and prioritise your workload to get that. It’s a chance to align with the goals of the company and work towards them to demonstrate your true value.
Insightlink Communications is a leader in full service employee surveys and offers a range of employee survey products and services to fit their client's needs. With over 18 years of experience, Insightlink's reputation has been built on giving organizations the knowledge they need to create effective change using their acclaimed employee research, analytics, benchmarking and survey methodologies. Insightlink's expertise in data collection reporting and analytics takes the pressure off organizations that find data overwhelming and daunting creating reports that are digestible and understandable, simple and easy to understand for organizations of any size and experience level.
For more information please contact Lynn Gore at 866-802-8095 ext 705 or visit our website here.
The Instant Group: Flexible Workspace Specialists
The Instant Group is the global flexible workspace specialist. Underpinned by unrivalled expertise, Instant tailors unique solutions to help businesses of all sizes to grow, drive savings or gain invaluable insight. Established in 1999, The Instant Group has achieved 23% compound growth over the past four years and continues to expand with private equity funding secured from MML Capital in 2012. With offices in London, Berlin, Dallas, New York, Hong Kong and Sydney, The Instant Group employs more than 100 experts and has clients in 113 countries. For more information, visit www.theinstantgroup.com.
Bryony Bower at MediaVision
+44 (0) 208 481 0193
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