With the rising cost of living and the impending recession, many workers are asking their employers for a pay raise.
Here are three tips that can help you negotiate successfully when it comes to asking for a raise:
Tip one: Advance preparation
Do you know how much people in similar positions to yours earn in other companies? If not, it’s definitely worth checking out. There are several ways to do this:
- Check with friends and colleagues in the industry
- Raise questions anonymously in online professional forums
- Search on Glassdoor and LinkedIn
You should also prepare an “elevator pitch” for the meeting. A short, well-packaged message that can be delivered succinctly to prove why you deserve a raise. The pitch should cover your strengths, contributions to your team and to the company, and any other specific reasons your employer should raise your salary.
Tip two: Self-branding
Personal Branding: Personal branding is important throughout your career and not just before requesting a salary raise. It can lead to personal and professional success, which might manifest in a higher salary and improved achievements.
To brand yourself effectively and achieve the desired results, you need to adopt effective action patterns and perform practical actions that will lead to a personal brand that expresses your strengths in an inspirational way, and which could serve as a role model for the environment that perceives you as successful.
Actions that can be taken in the context of building a professional personal brand include giving presentations and training sessions within the organization, writing articles for communication, and more.
Tip three: Assertiveness
How many times have you regretted not saying something that you needed to say in order to improve your position in the delicate balance of power in interpersonal communication?
Assertiveness is one of the important skills that should be cultivated and developed in the workplace. By developing this skill, you can advance your goals and also maintain the respect of the other party.
Penina Karin, who served as the Vice President of Human Resources at Ben-Gurion University and at the Bank of Israel and is a lecturer in the digital project “Learning Managerial, Organizational and Skill Practices,” as well as an expert in developing human capital and creating organizational impact, explains:
“There are two types of employees: the first type is those who are reluctant to speak up and request a raise for themselves, and the second type of employees includes those who request a salary increase, but it doesn’t always work out for them. Employees belonging to the shy category, as mentioned, need to prepare in advance and come with good arguments, mapping their projects and achievements (an argument aimed at a salary raise). This will make it easier for them to persuade the employer to raise their salary. In both cases, you need to enlist the commitment of the manager to the request, find the right timing, and prepare properly.”
“In terms of timing, it is recommended to request a personal meeting with the manager. For this purpose, so that the manager knows what the conversation is about and can prepare, the conversation should end with a clear decision, such as when the subject will be raised again or when I will raise the request again. This is a closing statement that adds value to the conversation in terms of promoting the subject to achieve it at the end of the day. Phrases like ‘No, I’ll think about it’ do not promote the conversation. It is worth remembering that even the manager is not always comfortable with such a conversation.”
Preparing for such a conversation involves preparing the background and specifying the reasons why you want the raise. Mention reasons that will speak to your manager and convince them, such as detailing your achievements, referring to previous feedback discussions that may make it difficult for the manager to object, and making them look at you as someone who deserves a raise. The arguments should be good and backed up with data and facts.