The 5-Step Process to Requesting a Raise
At some point or another, employees reach a point
in their careers where they request a raise. Depending
on the way in which the employee approaches their
boss about receiving one (in addition to whether
or not their performance merits one) relies heavily
on the manner in which the employee presents their
case. Considering that the idea of asking for a raise
tends to provide minor panic attacks for most, it
can actually be an easier process than most make
it out to be. By following a few simple steps, the
process of requesting a higher rate of pay can be
made simpler for both you and your boss.
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1. Research: Prior to going to your boss to ask for
a raise do your homework. Use the internet to find
out what people in your field are earning. Make sure
that you account for your location and years of professional
experience. Similarly, research how much you can earn
to allow you and your company a little flexibility
in the exact dollar amount if a raise is awarded.
2. Consider the Financial Status of Your Employer:
Before you can even realistically consider the option
of asking for a raise, you need to review the financial
health of your organization. If your company is doing
exceptionally well, it's probably an ideal time to
approach your boss for more pay. However, if your company
is floundering and there are rumors of layoffs receiving
a raise is highly unlikely.
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3. Prepare Your Case: Once you have done your homework
it is time to begin working on why you deserve a raise.
It is important to remember that when approaching your
boss for a raise, you need to be prepared to show not
only why you deserve one, but how your contributions
benefit the company. The easiest way to do this is
to draft a list of your accomplishments while at the
company with your most recent first.
4. If You Don't Receive the Raise: When preparing
to ask you boss for a raise, you should also consider
what actions you will take if you do not receive one.
Will you remain at the company or will you begin to
explore other options. It's also a good idea to consider
the reasons why your boss did not award you a raise.
If they were performance based, consider examining
what you can do to improve your performance so you
may be eligible to receive a raise at a later date. |
