But the moment you open the morning papers, the news are all dampeners, layoffs, cutbacks, deficits, increasing number of jobless, Labor Department statistics say, that this is the worst over three decades. Doubts creep into your mind. Are you sure this is the time? And again you put it off.
However, look at it this way. These are bad times, but it is at times like these that efficiency, competence, productivity and good organization become more perceivable than ever before. In the employer's eyes you will be more valuable than ever. If the company see's you as a committed and valuable contributor to the company, they may even reward you for it.
Here are seven tips that can yield the desired results:
1) Show Proof Of Your Worth
Show how your work has positively impacted the company's profits. Speak about how your efficiency has ensured that ensures work gets done on time and that there are no delays. If there are other people whose work has been helped because of you, collect their references and testimonials. If a client says that you were instrumental in his decision to work with your company, ask him to give it you in writing. You could also ask him to send an email to your boss, along with a copy to you. Keep these testimonials and use them as important evidence of your value
2) Don't Assume, Find Out What Your Salary Should Be
Don't assume or presume what your salary should be and don't go merely by heresy or unconfirmed gossip. It is a very common exhortation amongst workers, who will tell you that they know of acquaintances in similar jobs receiving exorbitant amounts. It is better to do your own homework. Research the market. Find out from hiring managers, recruiters, job analysts what other similar-sized companies are paying for similar jobs.
3) Anticipate Retaliation
When you are going to give the reasons to the company, why you think you merit a raise, they will also give their reasons why they think you don't. They are accustomed to and used to such situations, having been there many times before. They will know exactly what to say and what not to say. Don't go unarmed, anticipate their questions and be prepared to rebut them with carefully well-planned answers. Deal with them in a professional way with the excuses they will surely offer and respond with answers that are based on facts.
4) Never Be Rigid
Always be careful about choosing the right time. Of course you cannot go on postponing it indefinitely, but surely it would be highly badly chosen and foolish if you were to ask for a raise, just when the company has had budget cuts and has laid off some employees. Raising the issue in such an insalubrious atmosphere may make you appear insensitive and not in touch with the real world.
5) See Benefits In Dollar Terms
There is nothing like getting a cash increase. You can use the extra money as and when you want to. But compensation is not only money, it also includes, vacation time, flexible working hours, subsidized education/training or extra -weekends. If the cash increment is not forthcoming, negotiate for increase in perks instead.
6) Seek Guaranteed Increase Following Performance Review
If all fails, tell that you would like to request a salary review in six months, with a guaranteed increase in pay if you meet targets that the company sets out. Six months down the line the company could be on firmer ground and the economy could be better. Moreover, the employer will feel that he will have to increase your salary only if you meet the targets and he'll probably be hoping that you meet those targets. It's a win-win situation for both of you.
7) Anticipate the Worst
If all fail, then don't treat it as a defeat, but acknowledge that the times are difficult and that it is the employers helplessness and not his unwillingness that find him wanting in your time of need. It is indeed the truth that the first thing a company tightens when its facing financially difficult times, is its payroll. Always remember that even the most valuable employee is not indispensable.
Be graceful in your retreat. Tell your employer that you are thankful they gave you time and that you understand their situation and pray for better times, when such a request could be feasible.
