There’s never been more scrutiny on staff payroll but equally, there’s never been a greater desire to retain key staff (like you) during a staff shortage crisis. How do GM’s balance off these two factors, including asking for a pay rise yourself?
Asking for a pay raise can be a delicate matter, but there are some steps you can take to increase your chances of success. Here are some tips on how to ask your boss for a pay raise in a way that is more likely to be successful:
1. Do your research: Before you ask for a pay raise, do some research on what people in similar roles are earning in your industry and location. This will help you to determine whether your salary is competitive and what kind of raise you should be asking for.
2. Document your accomplishments: Make a list of your accomplishments and contributions to the company over the past year or so. This will help you to build a case for why you deserve a pay raise.
3. Schedule a meeting: Request a meeting with your boss to discuss your salary. Make sure to do this at a time when your boss isn’t too busy or stressed out.
4. Be positive, upbeat and confident: When you meet with your boss, be confident and assertive. Explain why you think you deserve a pay raise and provide evidence to support your case.
5. Be prepared to negotiate: Your boss may not agree to your initial request, so be prepared to negotiate. If your boss can’t offer you a pay raise, consider asking for other benefits such as more vacation time or flexible working hours.
6. Follow up: If your boss agrees to your pay raise, make sure to follow up with a thank you note or email. If your boss doesn’t agree to your pay raise, ask for feedback on what you can do to improve your performance and increase your chances of getting a raise in the future.
7. Timing is key: Choose a time when your boss is more likely to be receptive to your request. For example, if your company just won a big contract or you have recently completed a successful project, this may be a good time to ask for a pay raise.
8. Focus on the value you bring: When you are making your case for a pay raise, focus on the value you bring to the company. Highlight your accomplishments and how they have contributed to the success of the business.
9. Stay positive: Be positive and avoid complaining about your current salary or working conditions. Instead, focus on the future and how a pay raise will help you to continue to grow and contribute to the company’s success.
10. Be realistic: While it’s important to be confident and assertive, it’s also important to be realistic about your salary expectations. Do your research and ask for a raise that is in line with what people in similar roles are earning in your industry and location.
11. Consider other forms of compensation: If your boss is unable to offer you a pay raise, consider asking for other forms of compensation, such as stock options, a performance bonus, or additional vacation time.
12. Practice your pitch: Practicing your pitch before you meet with your boss can help you to feel more confident and prepared. Consider rehearsing with a friend or family member to get feedback and improve your delivery.
Remember, asking for a pay raise can be challenging, but it’s important to advocate for yourself and communicate your worth. By doing your research, making a strong case for your value, and staying positive and realistic, you can increase your chances of success especially if you document your accomplishments, and communicate your worth confidently and assertively, you increase your chances of success.
If during your discussion your stonewalled by your boss, this may be an indication that the basis on which your based your request may not be fully appreciated. Also be prepared for your boss to update you that there aren’t sufficient funds for a pay rise.
