Five strate­gic tips to get a raise

Lesotho Times - - Jobs & Tenders -

FIND­ING a job is stress­ful and, once you have one, many of the as­pects of hav­ing a job can cause stress, too. But ask­ing for a raise is even more nerve wrack­ing.

If you aren’t a mas­ter ne­go­tia­tor, the whole ex­pe­ri­ence can be pretty awk­ward, too. But, you’ve got to do it ev­ery once in awhile, es­pe­cially if your pay­check isn’t match­ing the cost of liv­ing ex­penses or the work you do.

So when should you ask for a raise?

“If you aren’t be­ing com­pen­sated fairly for the work you do or if you haven’t had a raise in more than a year,” says Tim Dug­ger, ca­reer coach and owner of Ca­reer Cafe LLC in In­di­anapo­lis.

So, roll up your sleeves and build up your courage. Here are a few tips on how to ne­go­ti­ate a bump in your pay­check. 1. It’s all about tim­ing Know when to ask. Not ev­ery day is not a good day to ask for a raise. You have to be strate­gic in your ap­proach.

“The best time to ne­go­ti­ate a bump in pay is dur­ing a per­for­mance re­view, es­pe­cially if you’ve done ex­cep­tion­ally well dur­ing the pe­riod for which you’re be­ing eval­u­ated,” says Jody Michael, CEO and founder of Jody Michael As­so­ciates, an ex­ec­u­tive and ca­reer coach­ing com­pany with of­fices in Chicago and At­lanta.

You can also ask for a raise af­ter you have suc­cess­fully de­liv­ered on a project, or achieved some suc­cess for the com­pany. 2. Do your re­search “We rec­om­mend that peo­ple come into these con­ver­sa­tions pre­pared — both on pa­per and psy­cho­log­i­cally,” Michael says. “One com­mon mis­take peo­ple make is un­der­esti- mat­ing their worth and the value they add to the com­pany.”

Track your achieve­ments and do your home­work to find com­pa­ra­ble salaries us­ing web­sites such as Glass­door, Salary.com or Payscale.

Make an ex­cel spread­sheet and doc­u­ment all the won­der­ful things you have achieved since your last pay raise, Dug­ger says. Gather in­for­ma­tion on how much you have saved the com­pany or in­creased its sales or pro­duc­tiv­ity. 3. Be cre­ative A strug­gling com­pany may not give you a raise. If you de­cide to ride the tough times with your em­ployer, ex­plore ben­e­fits other than a mone­tary gain.

“You might ask for an ex­tra week of va­ca­tion, or that your com­pany pay for a class to en­hance your skills,” Michael says. 4. Know how much to ask The nor­mal range for merit-based raises is 1 to 5 per­cent. If you are do­ing the bare min­i­mum you won’t be at the higher end of the range. But, if you are ex­tend­ing your­self at the job, you may ex­pect an in­crease of up to 5 per­cent or more. 5. Chart your fu­ture Let your bosses know your fu­ture plans and demon­strate how you would fuel the com­pany’s growth. Seek out men­tors and find out what the com­pany needs in the im­me­di­ate fu­ture. Po­si­tion your­self in such a way that you are an in­dis­pens­able part of the com­pany’s suc­cess story.

And if things don’t work out, re­mem­ber there’s al­ways the next time. — Nwitimes

IT is pos­si­ble to get a raise, even in an en­vi­ron­ment where money isn’t ex­actly fall­ing from trees.

Newspapers in English

Newspapers from Lesotho

© PressReader. All rights reserved.