How To Effectively Ask for a RAISE

HOW TO EFFECTIVELY ASK FOR A RAISE

Who wouldn’t want a salary increase?

If you’ve been an employee for years and you have not received any salary increase then, it’s time to contemplate on this. To start with, it is important for you to know that there’s nothing wrong in asking for an increase especially if you think your current salary doesn’t coincide with the kind of service you’re providing. However, it’s not only about the service but the value you bring to the organization.

Now, if you’ve contemplated asking for a raise then, there are few factors you need to consider. Here are the top three you should know.

1. Company Policy

Consider yourself blessed if your company has an annual appraisal of your performance which will most times correspond to the salary you are getting. There are companies that use a certain principle in giving a salary increase to their employees. We have factors like the bell curve, power curve, and so on. So, if your company practices such, then you must wait for the appraisal season. If not, then it’s okay to have a sit-down meeting with them and negotiate.

2. Performance

Make sure you are eligible to ask for a raise. When you ask for a meeting, make sure you have a good performance that can serve as a back-up for you. That is why it is important that you track your performance regularly. When you have the necessary data, you can never go wrong. Make sure you have a regular discussion with your boss about your performance. Ensure everything is documented.

3. Market Value

It’s not always about performance. You also need to know your market value. Your market value depends on your industry. You can try checking companies in your industry and compare. You can easily do an online research on this. In your research, consider not only your industry but also your position, tenure, and other factors. When you sit down with your HR team, ensure you have your data ready. They will most likely have a hard time disapproving the increase especially if your current pay way too low from the market value.

Once you’re done checking on these three factors, and you found out that indeed you are eligible for a possible salary increase, then it’s time to reach out to your boss and the HR team.

Here are some tips on how to effectively reach out to them.

1. Write a Formal Letter

You can start with sending an email, so that you won’t catch them off guard. Allow them to prepare too. What’s important is to make sure that everything will be documented from start to finish.

2. Schedule a Meeting

After they acknowledge your email, you can now ask for a face to face meeting. Regardless of the content of their reply to your email, request for a face to face meeting. Tell them that you respect their time and you will just wait for their most convenient time in case they aren’t available upfront.

3. Present your Case on a Positive Note

During the meeting, be rational than emotional. Professionalism is the key. Never be confrontational especially if you feel that they will say no. At the same time, assert yourself too, but in a polite and professional manner. It is important to let them feel that you know what you are doing.

4. Show your Data

We are now in the era of data. It is no longer difficult to obtain data most especially with the flood of resources online and offline. So, make sure you have your data with you. Show them your numbers to back up your claim. It is best to state the exact amount of salary you are expecting and then tell them why you are expecting that amount using series of data presentation.

5. Listen

Don’t just hear them out. Listen. When you listen, it gives you room to converse with them. Exchange thoughts and ideas with them. In this way, they will feel your sincerity.

6. Negotiate

Three things may happen. One is they will give in to your request. Second is they will give you a raise but not the amount you are expecting. Third is they won’t give you that raise. You need to be ready for these three. You should have your answers ready and prepare to negotiate.

Lastly, it’s important for you to know that your company may deny your request. If their reason is valid then it’s okay to accept. Some may not give you the raise in the form of salary. However, they may create a win-win situation by giving you some perks at work that can equate to a salary increase. You need to be considerate on that too.

Nevertheless, if you think you deserve that raise, then go for it!