- Are you beating your targets and exceeding your manager’s expectations?
- Do you go above and beyond your responsibilities and contribute substantial additional value to the company?
Do you know how to effectively communicate your value to confidently discuss a pay increase with your manager?
Discussing your value and potential for a pay increase or promotion is a natural step in any career path. As you build your skills and continue to work hard to reach and exceed your performance targets, it may be the perfect time to consider the value you bring to the company and how you can effectively communicate this to ask for pay increase.
Just because you are doing your job does not mean that you are entitled to a pay increase. It is important to highlight the additional contributions you are making to the organisation and take time to think of your request from a manager’s perspective. What will they need to know to make a considered decision?
So how can you leverage your accomplishments and value and request a pay increase?
Here are our top 4 tips on how to prepare for the discussion and communicate your value:
1. Research market rates and industry averages
- Conduct thorough research into the average salary for your position based on your experience level, skills and position description. This will assist you in having an approximate target figure that you would like to work towards. It is important to also consider the business size, current and future growth potential when researching market rates.
- Familiarise yourself with the company procedures. Identify the best person to speak to and the expected achievements and length of service expected prior to the discussion.
2. Demonstrate your contributions and value
- Develop a list of the goals you have achieved and/or exceeded for the company. This should include how you have effectively contributed to the business goals, key performance targets, projects you have completed or any additional responsibilities such as supervisory role.
- Ensure your goals are measurable and quantifiable. Consider presenting them in a report with graphs and figures to assist your manager in understanding your contribution to the company. Highlight the areas that you excel and also the areas that you know you need to work on.
- Prepare a list of new performance targets and goals to demonstrate your dedication to growth and development, as well as your focus on entire business performance.
3. Time your request
- Email the appropriate manager in advance to schedule a meeting regarding a salary and performance discussion. Remain professional throughout the discussion and focus on the fact base, rather than emotions. To be successful you should be willing to negotiate.
4. Stay positive after the meeting
- Regardless of the outcome, remain positive and thank your manager for their time. If the result of the discussion was not what you expected, do not be discouraged. Ask your manager what specific areas you need to develop to prepare yourself for future salary discussions. This demonstrates your focus, attitude and dedication.
Approaching the discussion with an open mind and a focus on demonstrating your value and accomplishments will put you in the best position to achieve your desired outcome.
PKL Recruitment specialises in permanent, temporary and call centre recruitment for business administration and office support positions. Visit http://pkl.com.au/find-a-job to start your search today.
About the Author
Phoebe Lane is the Founder and Managing Director of PKL Recruitment. Phoebe founded PKL Recruitment in 1995 with a vision of creating meaningful differences to the lives of candidates and clients. PKL Recruitment is focused on producing high quality placements that benefit both the candidate and the client. Contact Phoebe today via LinkedIn or firstname.lastname@example.org.