Most people think that they should be earning more. But in these uncertain economic times, is it better to speak up or shut up? Before you ask for more money, ask yourself some questions, too.
Remember, employers pay for performance and results. Sometimes they pay for tenure or make accommodations for cost-of-living increases, but mostly they worry about their bottom line, not yours. Just why do you deserve a raise? You need a better answer than “because I work so hard” or “It’s been so long” or “I’m already underpaid.”
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Those responses are all good beginnings, but they need substance to back them up. If you work hard, you should list your accomplishments and contributions beyond your daily job description. If it’s been a long time between increases, have the dates ready and review the company’s policy. If you think you are underpaid, do some homework on the going rate for your position and geographic market. Be aware that raises are no longer automatic. Many companies do an annual performance review, but it may not come with a bump up in your paycheck.
Do you really need a raise-or do you just want praise? More face time with your boss is far easier to negotiate than dollars. And, if you think your employer is in a conservative mode when it comes to salary increases, you should consider negotiating perks other than cash, such as vacation time, a more flexible work schedule or training opportunities.
If you are still determined to get a raise and have validated your reasoning, prepare your discussion based on performance metrics such as quantity and/or quality of work, dollars brought in or saved, and the overall value you’ve added to the organization in terms of revenue, improved processes or greater efficiencies. Support your position with hard facts.
Remember, timing is also everything. Make your request at the right time, just after you’ve done something outstanding, such as saving a major customer. Don’t ask just before or after you’ve taken time off.
Focus on who the company rewards rather than what they say they reward. Recently I spoke to a candidate who changed jobs because although the company vigorously promoted work-life balance in their corporate propaganda, the people getting the big bucks and promotions worked insane hours. No matter how great her performance was, she would never get the raise she felt she deserved because leadership kept their real value system under wraps. She was smart enough to figure that out and move on to where she would be better appreciated.
When you calculate what you think your raise should be, use this data as a reference point: An April 2008 news release from the Economic Research Institute (ERI)reported that employers expect to provide increases of about 4 percent for 2009. The 2008 number was 4.1 percent, so be realistic in your expectations.
An old boss of mine used to say, “No one gets a raise for just showing up.” It would be nice, though-wouldn’t it?
Nancy Schuman is a vice president at Lloyd Staffing, headquartered in Melville, and is the author of five how-to books on career guidance and job-search techniques. Lloyd Staffing offers temporary, contract and full-time employment services on a regional and national basis. Send your career-related questions tojobadvice@lloydstaffing.com.
