Navigating The Challenge Of Asking For A Pay Rise
One of the most daunting tasks that you may experience during your career is asking for a pay rise. It is often the employee’s responsibility to bring up the pay rise topic and communicate this clearly to their manager.
We recently conducted a workplace survey and found that 45% of respondents believe that they risk their job security when asking for a pay rise. So, with that in mind – how do you do it?
1. Do your research
Researching can help create a baseline for your expectations towards a pay rise. Understanding how similar jobs within the same industry are remunerated can help with setting benchmarks to avoid disappointment. Obtaining background information is a solid foundation to building confidence in requesting for a pay rise.
2. Demonstrate your reasoning and accomplishments
What achievements have you accomplished whilst in your current position? Providing examples of responsibilities with supporting arguments can help justify the grounds on which a rise can be awarded.
3. Be an active listener and query if there is room for negotiation
Have a calm, organised discussion with your manager and demonstrate a clear commitment to achieving your goals. This discussion can be beneficial to you in the long term, so be straightforward with your requests. You can be flexible in your objectives through actively listening, which can also help in negotiating a pay rise.
4. Remember, timing is everything
More than a third of the survey respondents think it is appropriate to ask for a pay rise after one year. This may align with standard pay practices after the company completes their annual review. However, it is important to take into consideration how the business is operating in terms of profit and what their current (if any) policies are around annual reviews and pay increases.
If there is a sudden down turn, then the timing for a pay rise discussion may not be quite right.
Requesting a pay rise can be difficult to tackle when you’ve never done it before. Planning and mapping out a clear course of action is a great way to approach it. Exposure to similar situations can build confidence and affirms your potential in having the skills and experience to succeed in your discussions.
