New job? Negotiations should include extras,
Hint: Once the offer comes in, negotiations should be about more than just about money
As the economy picks up steam, a growing number of people are seeking — and nabbing — new jobs.
A CareerBuilder survey found that at the end of 2015, 21% of workers were planning to leave their current companies this year, a 5% uptick over 2014.
Once there’s an offer on the table, you might want to consider what perks you’d like to ask for as you head in the door.
“I think it’s important to negotiate your salary,” says Andy Decker, senior regional president for global staffing firm Robert Half. “But beyond salary, there are other things a company could offer.”
The movement on the job front comes after the deep freeze during the recession, when unemployment spiked and those who were able to hold onto their jobs often chose to stay put for fear they ’d be unable to find anything else.
“Certainly during the recession ... people were just happy to have jobs,” Decker says. “Companies also didn’t have the same business outlooks that they have now, and because they knew employees didn’t have many options, internally a lot of companies stopped increasing salaries. So people would end up five or six years in a job without an increase.” But times have changed. “We ended 2015 with a nearrecord 5.4 million job openings, giving workers added comfort to move forward with plans to improve their current positions and find different opportunities,” Rosemary Haefner, chief human resources officer for CareerBuilder, said in an email.
SHOW ME THE MONEY Once that new gig appears, “it’s important to have all the information on the table before you accept or reject an offer,” Haefner says. “It’s OK to ask questions such as ... will there be a sign-on bonus? How will I be evaluated, and will there be an increase based on that evaluation?”
Negotiating your salary might seem like a no-brainer, but many people are skittish about broaching the topic. A Robert Half survey last year of more than 1,000 adults found that while 66% of respondents were comfortable speaking in public, only 61% felt a similar confidence when it came to negotiating pay at a new job.
And many workers don’t even know what their peers are earning. The survey found that only 59% of professionals had com- pared their pay to general market rates in the past year, and 27% had never checked.
“Ask for what you believe you’re worth, but do some research,” Decker says. “Use tools like Indeed.com that have postings. Look at jobs in your area to see what jobs are paying. ... Come prepared with stats.”
Haefner adds that when talking dollars and cents, you might want to repeat points that likely came up during your job interview. But, ultimately, it’s good to be flexible. “Remind the employer of the experience and education you have and why you are worth more,” she says, “but understand the employer’s restraints. There may be a salary cap that no amount of negotiation can loosen.” OTHER PERKS TO DISCUSS And consider discussing more than salary. For instance, Deck- er says, you might want to discuss being able to telecommute occasionally if you have a lengthy commute or having a staggered work schedule that allows you to start and leave earlier in the day. “I’ve seen a number of companies who are going to having four 10-hour days so employees only have to work four days a week,” he says.
Other perks worth bringing up? How about assistance paying for parking or extra vacation time?
When negotiating, your delivery can be key. “It’s important to convey your excitement about the opportunity and joining the company,” Decker says. Then, launch into queries about whether there is flexibility on issues that are important to you.
What matters to one person may not be so important to another. If you are working toward your CPA, getting financial assistance or being able to take time off for courses without tapping into your vacation days might mean more than having subsidized parking, Decker says.
Whatever deals are finally made, make sure that they are in writing. “It’s a good idea that all the things you negotiate end up in your offer letter somewhere,” Decker says.
And if the company doesn’t issue a formal letter, send an email to your new employer, noting what was agreed to.
“It’s OK to ask questions such as ... how will I be evaluated, and will there be an increase based on that evaluation?” Rosemary Haefner, chief human resources officer for CareerBuilder