Posted on Thursday 22 March 2018
Virtually everyone would love to receive a pay raise from their employer. Whether or not you deserve it is a whole different story. However, there are still certain steps that you should take when you are thinking about asking for a salary increase. Especially if you are planning to move to a new place right after or are dealing with a divorce.
Like virtually everything else in life, a pay raise has to be earned. The odds of employees successfully receiving higher pay from their boss is almost zero to none if the employee is unable to effectively show how their value or work for the company has increased since being hired. Fast Company furthermore affirms that when asking for a pay raise, the numbers make all the difference in the world. Contributions to the company's financial growth, salary rates of other colleagues, and profit numbers engendered by one's work can greatly impact whether or not an employer feels inclined to honor the request of an employee who desires higher pay.
Similarly to an employee's company value, the time and place which in they decide to ask their boss for a salary increase is a considerable, determining factor. Although seemingly apparent, workers should abstain from asking their employer for pay raises in front of other colleagues or at a time where the employer appears busy, frustrated, or otherwise preoccupied. Requesting a salary increase at the wrong time can result in a resounding no, even if the answer might have been yes under different circumstances. The right time and place are equally as important as the ability to present the numbers. Ultimately, each employee will have to make the judgment call regarding the best time to request a pay raise from their boss. However, setting up a meeting is arguably one of the most appropriate occasions to ask for a salary increase. Not only does this circumvent the employer being busy or preoccupied with other matters, but it also conveys professionalism. During the meeting, employers should preferably come with a portfolio showcasing the aforementioned numbers and anything else which may help their cause in terms of securing their desired pay raise. They say if you ask for a raise around spring time, you have a better chance. We're not sure of that but thought we'd mention it anyways. Also you can afford a larger life insurance if that's important to you.
No hardworking person enjoys being turned down for a pay raise, but unfortunately, it still occurs sometimes. An employer may decline a worker's request for a salary increase for multiple reasons. Sometimes the pay raise may simply supersede the company's budget. In other situations, the boss may simply feel as though the worker requesting a raise has not earned it or they just may feel like saying no. Regardless of the outcome, the employee still has a duty to remain respectful and professional at all times. Whether he or she is told yes or no, the meeting should always end with a handshake and a 'thank you for your time.' In the event that an employee is turned down for a raise, they will have to decide whether or not they wish to continue working for the current company. If so, they should continue performing their duties to the best of their ability. If not, the employee then has the responsibility to respectfully turn in their two week's notice to the boss. Authored by Gabrielle Seunagal