There is a process and strategy involved in asking for a pay rise that, just like any other business process, needs careful research and planning.
The how. How does your organisation go about doing salary reviews. Are they annual or are they adhoc. Most organisation will have a twelve month salary review which can be attached to your performance appraisal. Knowing when these reviews take place and the format will assist you in being ready to make your “pitch” in an appropriate environment that is open to discussion.
Understand your environment. No matter how well you have performed, salary increases will be very reliant on the economic environment and the company’s performance as a whole. A little research into this will bring to light any blocks that may come up in your future discussion.
Know your worth. Research the market to see if you are on a comparable salary to others performing the role in your State. Look at your performance over the last twelve months, what have you achieved, how have you added value to the company’s performance? Most importantly, if you were to leave, how easy would it be to replace you and your experience.
Put it all in writing. Make a professional business case to your manager marking down your achievements, market rate and the reasons you believe you should receive a pay rise. This will assist your manager in working through your request with you.
You are now fully prepared for a conversation, however, you must be prepared for a 360 degree conversation. The best advice is to stay cool calm and collected. Being emotional or angry about the conversation will not reflect how you want to appear.
Be prepared for 3 possible outcomes.
Yes – happy days!
Yes but not that much.- negotiate how you can get to where you want to be and make a plan of how to get there with your manager.
No – your reaction is dependent on the reasons your manager has given you. Again keep your cool. Say thank you for your time even if it is not the answer you want. Stay professional. You may wish to come up with a performance plan that if achieved will gain you your increase, or maybe it’s time to seek another role.
