Sunday, June 14, 2009
Smart Ways To Ask For A Raise
Tue 05/12/2009 Charlene Tan
http://community.jobscentral.com.sg/node/1115
Most of us, faced with higher bills and rising costs, would love to have an increase in salary even though it is not time for the company’s annual review. So we fantasize about how to approach the boss and make the request for a raise.
Most of us would think that a good reason for such a request is that we need more money to pay our bills, our children’s rising tution fees, and so on. However, your personal financial needs are not your company's problem.
HR experts advise that it is best not to talk about your financial needs. Instead, your request should be based on your added skills, productivity, tasks accomplished, your contribution to the company, and the market rate for the job position you are holding.
1. Draw up your job description
You should have two kinds of job description: a formal one given by the HR department, and an informal one you produce that includes all the actual tasks you do that are not mentioned in the formal description.
2. Collate together reports of your last few performance evaluations
If your company does not provide copies of the reviews to you, write down from memory as truthfully as you can, your job evaluation given by your boss over the past six to 12 months. Include in the review your accomplishments, and if possible, the specific dollar value of each accomplishment to the company. For example: "I saved the company $15,000 this year by re-negotiating contracts with existing suppliers and sourcing for fresh suppliers."
3. List out new skill sets you have learned through company-sponsored training or on your own initiatives
If you have obtained additional diplomas or academic qualifications, write them out and describe how you can use your new skills to enahnce your existing job. If you have not been improving or adding to your skills and professional knowledge in the past 12 months, you should immediately do so before you even consider asking for a raise.
4. Find out salaries in other companies for similar jobs
When comparing salaries, you should include the dollar value of the benefits and perks that your employer provides, such as company-paid health and hospitalisation insurance, subsidised meals and bursaries for your children’s education.
5. Find out your company's policy on salary increases
Are all raises given only at a fixed time during the annual review? Is there a budgeted amount that your department must stay within for each employee?
If your supervisor or direct boss has no authority to exceed the budgeted amount, you have wasted your effort.
6. Find out your company's financial state
Not all companies are in a position to raise salaries. If sales are going downhill and revenue is drying up, it is more likely for the company to be planning staff retrenchment.
7. Ask your boss for an appointment at a time where he or she is not distracted or in a hurry to attend a meeting somewhere
From experience, HR and compensation consultants will tell you that Monday morning or Friday afternoon are busy times for most managers, and would definitely be inconvenient to discuss your request.
8. During the meeting, take your time to show your boss your accomplishments, your new skill sets and your research findings, and then make your request for the raise
9. Chances are, your boss will (a) reject your request outright or (b) delay you by saying he or she will “think about it”.
10. If you do not get your raise, ask your boss what you would have to do to receive an increase or a promotion with pay adjustment
Make sure your boss is aware of your good work, and that you intend to work even harder and more productively in preparation for your next opportunity to discuss salary.
11. Do not issue an ultimatum of resigning if your request is rejected, and do not react with a sour grapes attitude
12. If your boss postponed meeting your request, ask when you can have the answer
Good luck!
& 7:58 pm
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Thanks Angie for sharing w me!!
& 7:25 pm
