Rise to the occasion
THERE’S NO HARM IN PROVING YOUR WORTH BY SELLING YOURSELF TO YOUR BOSSES, EVEN IN THIS TOUGH CLIMATE
THE world may be in the grip of an economic crisis, but a 2020 pay rise is not necessarily off the table. PepTalkHer founder and chief executive Meggie Palmer says it comes down to context and preparation — and for situations where a pay bump is just not feasible, there are other options available.
“Absolutely there are situations where it is appropriate to ask for a pay rise, even during COVID times,” she says.
“If you’re working for a company that has just laid off half its staff, it may not be the best time to pop into your boss’s office and ask to double your salary, but some of our clients in financial services are booming, some IT companies are doing extremely well.
“Just because the economy in general is struggling, doesn’t mean people won’t be getting pay rises and hefty bonuses — some people will be.”
Palmer shares her advice for successfully negotiating a pay rise.
KEEP TRACK OF YOUR WINS
“Whenever you want a promotion or pay rise, you need to do prep,” she says.
“There is no point just saying ‘I have been here for six months or six years’, it doesn’t work like that.”
She recommends workers ask themselves throughout the year: ‘How am I adding significant value to the company? What clients have responded well to me? How have I contributed to company culture?’
They can also keep a record of achievements via the free PepTalkHer app.
Taurus Marketing senior account manager Shazana Roseli was on track for a promotion and pay rise but understands this may now be on hold as a result of COVID-19.
She plans to reassess how the business and industry is faring in six months, but in the meantime is keeping track of the value she contributes at work.
“I make a point to note what I have done, how much business I have brought in and the processes I have implemented during this tough time so when the good times come back again it’s something I can prove,” she says.
“Sometimes it’s hard to remember everything you have done so it’s good to take note of the value you bring and the fires you put out.”
HAVE THREE NUMBERS IN MIND
Meggie Palmer recommends workers heading into a pay review set a “wish” amount they would really love, a “want” amount they believe is fair, and a “walk” amount that is the minimum they would accept before walking away from the company.
“Being clear in your mind about what those three figures are is helpful to frame the negotiation,” she says.
“You have done the mental gymnastics ahead of time so you are less stressed going into that conversation.”
HAVE A PLAN B
If a business has no money to spare, Palmer says that workers should consider what else they value besides a pay rise.
“Could you negotiate for an extra week of leave or could the company pay for carparking or could you leave at 3pm on a Tuesday to visit your grandmother?” she says.
“It’s about the whole compensation package, not just money.”
Palmer is hosting a virtual presentation today from 9am on “Negotiating your next pay rise: How confidence can supercharge your career” as part of the Vogue Codes free series of webinars.
Vogue Codes was established in 2016 in answer to gender imbalance in the technology industry with the aim of inspiring more women to pursue careers in tech-related industries.
Vogue Australia editor-in-chief Edwina McCann calls it a crusade to see women empowered by technology.
“With the past few months showing us the importance of technology more than ever, embracing tech and the learning behind it is so important for girls and women, so that we can play a role in our shared digital future,” she says.