Research shows that about half of employees did not ask their employers for a raise, which raises questions as to why it is so difficult to negotiate salary?
In a report published by the American “The Balance Careers” website, writer Jane Hubley-Lukwaldt stated that a survey conducted by the “PayScale” institution showed that 28% of the participants had never negotiated a salary increase because they were uncomfortable asking for a raise.
About a fifth of the participants said they did not want to be seen as opportunistic.
But claiming your rights is not opportunistic, you need to follow the right approach to negotiating a raise.
Here are the most important tips that you can follow.
1. Remember that you are negotiating with partners
Asking for a raise or negotiating a salary may initially seem like a confrontation, but the employer is not your enemy, because you both share the same goal, which is to be paid appropriately for your skills or experience.
Research shows that employees who feel they are paid fairly are more productive, more committed, and stay in their jobs longer than those who are paid unfairly.
Replacing you with another employee is likely to be costly for the employer, and research shows that employers can expect to spend about 30% of a departing employee's salary searching for and hiring a replacement.
2. Determine the right salary for you
Salary ranges can vary widely from organization to organization, but it's still a good idea to get an idea of what's reasonable for the job you're holding.
You can use free salary calculators from sites like Glassdoor, Payscale, and Salary.com to find domains for your job title.
And don't forget to add your skills and certifications and make a note about the standard of entitlements and privileges.
Depending on your circumstances, it may make sense, for example, to receive a lower salary in exchange for longer vacation or better health insurance.
But you will not be able to make this decision until you have all these criteria.
When negotiating salary, rely on these metrics, not your emotions. Try to avoid the urge to vent your frustration or the temptation to share your personal circumstances during the raise discussion. Instead, base your arguments on the facts.
3. Prepare for the siding
In a perfect world your skills and qualifications would be the only thing that matters while negotiating salary, but we don't live in a perfect world, and everyone has a bias, and that unfortunately includes employers;
This does not mean that you should avoid negotiating a raise because you are likely to face the effects of this sexism.
Instead, you need to be aware of this bias and take appropriate steps to circumvent it.
4. Understand the payroll policy
Social networks not only help in finding job opportunities, but also sometimes enable you to learn about the disadvantages of a new employer.
If you can get contacts in the company, don't miss the opportunity to talk to them to find out some important facts.
If you can find out their salary range that will be good for you, but if they are reluctant to talk about numbers, you can find out their view on the company's salary policy in general.
5. When you have a job offer
70% of hiring managers say they expect candidates to negotiate a raise when they receive a new job offer elsewhere.
So it's always a good idea to ask for more when you're offered a job at another organization, even if the hiring manager argues that the budget is tight, he probably won't turn you down.
6. Choose the right time
Besides the importance of timing, keep in mind that there are a number of factors that you must use to your advantage so that your manager can support you.
Choose a time when the company's financial performance is good, and when your valuable efforts at work are recognized.
Contrary to what you might assume, an end-of-year review isn't always the best time to get a raise because budgets are often set at this point.
But now is the time to tell your boss that you're eager to take on new challenges and the rewards that come with them.
7. Be honest
A survey revealed that 39% of respondents lie about getting another job offer to get a higher salary, but this lie may not be a good idea.
The author concluded that you can easily achieve your goals by doing your research and seizing some exciting opportunities to request a salary increase.