Advertising
Advertising

Revealed: How to Ask (and Get) a Raise You Deserve

Revealed: How to Ask (and Get) a Raise You Deserve

Another disappointment in the annual review. No pay raise once again. The salary has been frozen for recent years while there are more responsibilities on your shoulders. You truly feel you deserve a pay raise but it never comes. You begin to wonder: Is it the time to actively ask for a raise? How to ask for a raise?

But you are hesitant, fearing you can’t get the desired raise and ruin the relationships between you and the seniors. You are also concerned about how your colleagues would think of you when they hear your request.

Instead, you shouldn’t worry, and you should go for it!

Do your homework before asking for a raise.

Here are all the do’s and don’ts in demanding a pay raise.

1. Find the best timing to request.

Most people ask for their pay raise during the annual review period and get rejected. You may think you’re rejected because you do not deserve a raise in their eyes, but the truth is – It is TOO LATE.

As early as 3 to 4 months before an annual review, the seniors have to plan the coming fiscal year’s budget. And most importantly, the budget includes the sum of raises and salary adjustments. So, if you demand a raise in an annual review, the budget is already fixed and you usually can’t get the raise. Request a few months in advance instead!

Advertising

Besides, analyzing the current status of the company is crucial. Imagine you still ask for a raise when the company is experiencing stagnant or even negative growth, it would be a disaster.

On the other hand, if the company’s financial growth is on the rise and has recorded greens in consecutive seasons, then it is your opportunity! Your boss is more than willing to reward everyone who makes the growth possible (if your boss is a nice and generous one).

2. Maximize your bargaining power.

There are a few things you have to know and prepare before your request.

How much your colleagues of the same rank are earning?

Knowing the salaries of your colleagues is important. You have to know the discrepancy between yours and theirs to request for a reasonable raise. Otherwise, you will sound greedy. You won’t want it to happen.

What are your accomplishments and contributions?

Keep a detailed and specific log of how your have added values to the company. State the nature of the project or task clearly and how successful it is. It is also important to mention how your contributions have helped the company to grow.

You have to be clear and specific about your accomplishments because your boss has to take care of so many matters. He/she really needs your reminders to recall your contributions.

Advertising

What are your responsibilities and duties?

You have probably looked into what your colleagues are doing and it’s important to compare the responsibilities you and your colleagues have.

Having more duties should probably earn more. If you happen to earn less by doing more than your counterparts, it is perhaps the time to ask for a raise.

3. Know the amount you should ask for.

There are no norms for how much a raise should be. It varies greatly across industries and companies. While a rapidly growing startup can review salaries on a quarterly basis, a well-established multinational company may do so yearly.

However, there are some suggestions on how much a raise you should be requesting.

  • If there is a promotion in rank, around 10% rise in salary is reasonable.
  • If you stay in the same position, it is advised not to ask for more than 3% raise.

If not carefully requested, you may end up appearing ignorant or greedy.

4. Rehearse what you are going to say in front of your seniors.

It is highly advised to rehearse the meeting beforehand.

Advertising

Try to play the role of your boss and yourself, and think of the questions you will be dealing with. It is likely that you’ll be asked for the reason to raise your salary. If you practiced well, you should have a nice and convincing answer.

It may sound weird but this rehearsal can worth a few hundreds or even thousands of money. Think about it.

Talk politely and skillfully during the meeting.

Now you’re well-prepared, here are a few more pointers to help you during the meeting.

5. Get straight to the point.

You have clearly stated the purpose of the meeting and it’s best to be on point. Go straight to the topic as you have prepared. Tell your seniors your positive impact to the company and everything you know that are proof to your below average salary.

6. Mention your ambition and loyalty to the company’s future.

Seniors love to see your devotion to company. In spite of talking about how much you worth, also mention what you have planned for the future and your prospect in the company.

Talk about how you wish to help the company. It is also good to stress your commitment to the company.

Advertising

7. Don’t suggest counter-offers or threats.

Sometimes, you are offered a raise but not exactly the amount you desire. Remember, don’t make any counter-offers and threats about quitting. You are here trying to look for a win-win situation.

Don’t make it into a lethal negotiation where both you and the seniors feel the uncomfortable tension. Things usually go more smoothly in a harmonious setting.

8. Don’t complain about your current job situation.

Maintain a positive tone throughout the meeting. Imagine if you were the boss, would you like to hear “I have been working here for 4 years. While I am having to do more, I have nothing more in return!”?

Remember you are here to request for a pay raise and you need the boss’ support to do so. Don’t piss anyone off and ruin your future.

9. Prepare for rejection.

Prepare to receive a cruel rejection from your boss. Instead of a promotion in position or a raise in salary, you may also suggest looking into the options of incentives, bonuses or stock options.

Also, it is good to ask for an interim performance appraisal. It may be that your performance is not impressive enough at the moment but your boss definitely sees your efforts and progress. A raise could be happening anytime in the future.

If, unfortunately, everything is rejected, it is still fine. It is good to ask about rooms for improvement because you may have overlooked some of your accomplishments and performances.

Don’t be deterred by refusal. After all, if you don’t even ask at all, you won’t stand the slightest chance to have a raise.

More by this author

Jeffrey Lau

Editor. Sport Lover. Animal Lover.

20 Most Fun Jobs in the World (That Also Pay Well) How to Think Positive Every Day How Our Brains Trick Us into Believing the Wrong Things The Best Catalogue of Books from Every Category in 2017 What We Think Love Is and What Love Really Is

Trending in Productivity

1 How to Motivate Employees and Boost Team Productivity 2 How SMART Goal Setting Makes Lasting Changes in Your Life 3 7 Clever Goal Tracker Apps to Make the Most of Your Business in 2019 4 The Surefire Method to Set Long Term Goals and Reach Success 5 17 Smart Tips on Setting Goals to Accomplish More in Life

Read Next

Advertising
Advertising
Advertising

Last Updated on February 18, 2019

How to Motivate Employees and Boost Team Productivity

How to Motivate Employees and Boost Team Productivity

These days, in a world with cognitive, AI, and extraordinary advances, we have failed at the most basic stimulus: motivation. Why do I say so? Just take a look at these statistics:

58 percent of managers said they didn’t receive any management training as per a CareerBuilder.com survey. Only 12% of employees leave their jobs because of more money. Research indicates that around 80% of employees leave their jobs due to “lack of appreciation”. Due to fear of failing, more than half of American workers don’t take their paid vacations. 53% of Americans are unhappy at work (not engaged). And 1 in 3 are working in a field they don’t like.[1]

Archaic people management and HR structures are the root cause.

“If you want to build a ship, don’t drum up the men to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea.” – Antoine de Saint-Exupery

So how to motivate employees and boost team productivity?

Here are 3 key things that you can do to motivate your employees and boost team productivity:

1. Run Your Team/Group/Company like a Lean Startup

The Lean Startup phenomena by Eric Ries has been socialized across millions all over the globe. In a nutshell, it is a methodology for developing businesses and products, which aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning.[2]

Advertising

Encourage Your Employees

When you empower your employees (or family members) to do what they deem to be best for a particular roadblock, idea, or improvement, you create magic. You create genuine trust. You enable innovation. The result is happy, inspired employees who feel they have a say in the grand cosmic stage at work.

Note that increasing the competency level of employees and coaching and mentoring them along the way is key. You yourself, need to do the same. Nourish your brain – and get a mentor that will keep you at the edge of your game.

Offer Rewards

Motivation is also intrinsic. The startups I have worked at offered instant rewards — not just fat checks or equity increments, but Oscar-style nominations.

The non-monetary rewards were actually more coveted, and grandiose: lunch with the CEO, tickets to an Obama fund-raiser, horse-back riding with a world-class equestrian.

Compare this to a dodgy, corporate, white-cubicle dinosaur that had a “yearly performance review” where both parties dread the conversation. In a world of instant WhatsApp messages, having a conversation about performance, likes and dislikes cannot just happen annually in 60 minutes. Employees need to be rooted in the belief that their manager genuinely cares about them.

Give Autonomy

Another key attribute is autonomy. Most employees start brushing their resumes and cruising LinkedIn when their hands are tied in their current positions: approval forms, long meetings, escalations, and more meetings. In the world of agile and scrum masters, deliberating for the sake of deliberating is poison. You will choke the very employees that giddily accepted the job initially to “change the world”.

Within a reasonable realm of assessment and deep-dives, trust your employees to do the heavy lifting. Give them access to the knowledge, people and resources that help them directly make the choices that will shape the future of your team, and your company.

Advertising

Eliminate yourself as the bottleneck – and interject yourself as a benevolent, servant leader that is the symbol of high-performing organizations.

2. Apply the 90/90/1 Rule

I recently saw a video by Deepak Sharma (a leadership adviser) about productivity and this principle stuck with me. Here’s what it’s about:

Devote the First 90 Minutes of Your Day to Important Project

For the next 90 days, devote the first 90 minutes of your day to your most important project—nothing else. Do this for yourself and your employees.

We usually get sucked into the most wasteful, operational activities in the morning which robs our focus, and steers us into an unwanted rabbit hole. So mute your notifications, avoid the temptation to check your exploding inbox, and scroll your Instagram feed later. Instead, focus on that ONE thing that will provide real value to you, your team, or your business/company/home.

Apply this rule to yourself – and your team. Your team will thank you. Note: If you’re feeling really stretched for time, you can always hack the rule by testing out a “45/45/1” version.

A To Do Scheduling System

Another version of this is to use the Kanban concept, developed by Taiichi Ohno, an industrial engineer at Toyota. Kanban is a scheduling system employing boards and cards.

The most basic version is a canvas with “To-do”, “Doing”, and “Done” boards (or columns). Each activity or task is a “card” that moves from one column to the other. I use Trello (a Kanban-inspired app) that is a key system for my personal and professional life. It allows me to understand my workload, their priority, and due dates.

Advertising

I use importance and effort metrics (scores) for each task to understand what is truly necessary in my life to work on. It negates the FIFO (first-in, first out) paradox that has plagued millions of people. Instead, it allows me to take stock of what is on my plate, and then bite on what truly will move the needle for me, my team, my life, and my company.

With a limited appetite (at least for some), would you eat the veggies, fries, mashed potatoes and leave the sizzling steak? No, you wouldn’t (unless you are a vegan and ended up in the wrong restaurant).

Approach your work with a weighted vengeance – and encourage your team to do the same.

3. Align Passion and Skills to Purpose

The heart of human excellence often begins to beat when you discover a pursuit that absorbs you, frees you, challenges you, and gives you a sense of meaning, joy and passion.

“The most fortunate people on earth are those who have found a calling that’s bigger than they are—that moves them and fills their lives with constant passion, aliveness, and growth.” — Richard Leider

An ace team-member once told me that while she enjoys working for the company we both used to work at, she really hated anything to do with technology. She was more of a “people” person, and did not want to sit behind a desk sifting through lines of code.

What struck me was that she was in that role for more than a decade and had just spoken up. The good thing is she spoke up. She expressed her desire and interests. And it allowed her to get into a role of her liking within 30 days.

Advertising

Ask If They like What They’re Doing

If you, or a team member is frustrated, demotivated, or not performing at their best – one of the questions you should ask is whether they like what they are doing. Then genuinely try to help them get to the role they should be in (whether in the same team/company or not).

There’s a reason why 53% of Americans (and perhaps more or same across the globe) are unhappy at work. A butcher cannot be an ace salad maker. Pursue your passion – and help pave the way for your team. Unlock your potential and theirs. You will command and lead a supercharged team.

“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” – Steve Jobs

The Bottom Line

Sometimes, passion has to be ignited. It is dormant, clouded by busy-ness, buried by wrong career choices, and plagued by non-supportive eco-systems. Some will climb out of it, but we as society — and in the case of business teams — incumbent upon the manager/CEO/leader to foster, grow, and nurture the employee.

Teach her the ropes. Show her the path. Advise him as you would yourself. Let them lead, and make mistakes. Do not fear them, rather make them the leader you would want to become.

For your not-so-great team members, understand that it is not personal, it is just not a good fit. Help them move on to the pastures they would be fit to graze on. Hence, hire slow (and fire fast).

Your team is a reflection of you. Boosting their confidence and helping them achieve the impossible is motivation. Focus on that, and you will have a productive team that you and your company will be proud of.

More Resources About Team Management

Featured photo credit: rawpixel via unsplash.com

Reference

Read Next