After completion of the raise negotiation, which we presume turned out satisfactorily, you should record what transpired by recalling the sequence of events and analyzing what you did right, what you may have done wrong, and what your strong and weak points were as a negotiator. By recording this session in your activity log book, you will immediately prepare yourself for the next salary review and for future sessions.
THE THANK YOU NOTE
An effective negotiator is also a good writer. Immediately after the meeting is over, sit down and write a thank you note to your supervisor, reiterating specific points of agreement and highlighting your assets that are most valuable to the company. Keep the note brief by restricting its length to one page. It's extremely important to be diplomatic in expressing whether you gained or lost ground and politely let your supervisor know that you look forward to future salary reviews. Be positive in tone in looking toward a bright future for yourself and therefore the firm.
You got that big raise-now go for a promotion and more raises. Now ask yourself these additional questions in regard to the negotiation:
- Did I review my accomplishments and show how effective I have been in job performance and profitability to the firm?
- Did I compare my supervisor's goals against my performance objectives to ensure agreement?
- Did I let my supervisor make the first offer for a salary increase and then negotiate a higher figure, using the initial offer as a jumping-off point?
- How does the raise compare, over the current year and for the past five years, with:
- cost-of-living adjustment figures,
- production workers' increases,
- unionized workers' increases,
- increases granted to other managerial levels,
- increases for others in the same position, both inside and outside the department, and
- increases cited in surveys for my occupation and location?
- Were fringe benefits offered, and, if so, what did I accept?
- What are the dollar-value equivalents of the fringe benefits I accepted?
- You demonstrate that you take on responsibility and are promotable by impressing your supervisor to reach that conclusion.
- You assist your supervisor by supportive, outstanding (or, at least, good) performance to make him or her look good to management.
- You play to your supervisor's ego and emotional needs so as to enhance your chances for a promotion or a better raise.
- Your performance excels to such a degree that your rating is top-notch in the job-appraisal rating system employed by the company.
- You project a good image and make it visible to not only your supervisor but also your supervisor's superiors and any other member(s) of higher management that you may encounter during the course of performing your job.
So if your management is following this trend, can you expect more frequent and better raises instead of promotions? That is another consideration and should provide impetus in getting a bigger raise, now and in the future. In the past, salaries and promotions were almost synonymous, and "big" raises accompanied promotions. Today, the emphasis is on compensation in any form-dollars or other comparable benefits.
Management currently expects more from managers in taking on responsibilities in situations where they may receive rewards later (i.e., end-of-the-year bonuses) for demonstrating excellence in performance. But companies may not recognize employee dissatisfaction if there is a lack of employee recognition in the form of promotions, as well as compensation. In times of prosperity, dissatisfaction is manifested by high employee turnover, or an unusual number of middle managers deciding to start their own businesses to satisfy their thirst for accomplishment and recognition. When the economy is recessional, however, companies can demand more from the employees at lower compensation levels. Of course, top management considers profit the number-one priority, even to the point of sacrificing top-notch managers and eliminating strategic-planning departments. This policy may well be shortsighted, since these employees may have been the "brains" of an organization and may have been responsible for reshaping the firm to improve profitability in future years. Today the world is in a hurry-company managers have lost patience and can't wait for higher profits to become visible. A year of lower profits may mean decreased stock prices and a reduction in the value of stock holdings by top management.
So where do you, as a manager, go from here? One sensible course is to improve your negotiation techniques, which not only assist in the attainment of better raises now but also will be valuable in future employment opportunities. As indicated earlier, negotiation techniques are something that everyone can learn to employ as an additional aid for achieving success. Also, the techniques may help to foster a positive mental attitude and provide know-how in responding to negative replies or in converting negative answers into positive ones. For example, if your supervisor said, "You were turned down for a raise because you lack certain experience or qualifications," you might reply, "If I could prove to you that I am qualified, would you give me the increase?" As an effective negotiator, you would be able to keep the dialogue going until a satisfactory response was received.
