Ask for Your Pay Raise

pay raise, employee, pay, BeneChoice Companies

Although the pay rate is not the primary motivator for most people, it is the primary reason why people have a job.

Asking for a raise can often feel like an emotional issue. The trick is learning how to leave personal emotions out of the workplace to allow yourself the courage to ask for a raise. Be candid yet focused on the skills and assets you bring to the table.

raise, BeneChoice Companies

We have gathered some tips to help you succeed with staying focused on skills and assets versus having an emotional onslaught.

  1. Employers must look at the last time an employee received a raise to determine when the employee is eligible for another raise. For many companies, a standard is in place of the frequency of compensation increases. Be aware if this is annually, semi-annually, or even quarterly.
  2. Utilize websites such as Salary.com and Glassdoor.com to look at salary levels both internally and externally for people in similar positions. This will provide a base idea on where the position stands overall for compensation compared to other companies. Additionally, compare job responsibilities not only job titles. Every employer will vary as to what title does each task so composure information accordingly.
  3. Other than a salary, your company may offer alternate incentives such as discounts at local merchants, free / reduced tickets to sporting games or concerts, or even access to a gym. Additionally, look at traditional benefits like the employer’s cost for providing health care, dental, vision, life, and / or retirement options. Often times employees overlook these costs, but they are very real from the employers standpoint.
  4. Any leadership contributions you have made to your team overall are assets of yours; utilize them as selling points.
  5. On the opposing side to tip #4, how are you growing your knowledge base of your company / position? Learn about your position deeply and about many alternate positions. Stay in tune with how the company is doing within its industry as well.
  6. Look at your own performance level and evaluate if you are meeting standards or going above. Ensure that you are viewing this from an outside perspective and not judging your work from only your perspective.
  7. Be prepared to listen to your boss during your meeting as well; they will probably have additional insight for you about your performance. They may ask you questions to see where you stand and determine your overall assets for additional projects etc.

Lastly, look at the company as a whole. Is the company able to invest more into your salary at this time or are there possible other factors at play for company expenses currently? Think about what you will do if your proposal is not met, and this may be for reasons out of your control. Additionally, be prepared to not be given an answer during the meeting you have with your boss; they may need to evaluate additional business requests and prioritize them or submit a request to a board / higher management.

Highest regards,

Stacia

 

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