Every year most employees will be taken aside and be told how well or not they have performed in their job over the recent year. For most this is a mundane conversation they have to endure before getting to the interesting part, how much does the company really value the work I do. Here are our tips to help negotiate a salary increase.
You’ve done your homework, you know its going to be a tough conversation and you are prepared to negotiate. Leave your emotions aside and allow reasoning in.
Allow extra time in your diary. Without conflict, question statements made that don’t ring true. Conclude the meeting only when all points have reached a satisfactory ( for both sides ) conclusion. And if you werent able to reach conclusion in this meeting agree another time to meet.
Tips to negotiate a salary increase
- know what you have to bargain with, upgraded skills, improved performance.
- current knowledge of salary trends.
- current knowledge of salaries for your role and experience.
- are you talking to the decision maker thus does the person have influence.
- will the person be supportive.
- what’s the sentiment within the organisation and does this reflect the general market sentiment.
- do you have full understanding of the company’s salary package policy?
- are there non monetary items your employer could do that you would value.
Increasing your benefit comes in a variety of ways. Though hard cash is great real value can be found in education, mentorship, leadership or perhaps an international placement. All of these will add to your market value in the medium and long term and as a soft cost may be easier to negotiate. When you go to negotiate a salary increase be creative and reap far greater rewards than initial a small increase in your base salary.