Smart steps to a pay rise
Last week, we looked at ways to prepare for a salary review. Now, we examine the steps you need to take.
Prepare a list of your recent achievements that have exceeded your objectives. For this, you may need to look back at your original job description. Also, list any changed or rising work volumes or duties you’re now undertaking and consider projects you’ve been involved in.
Then list the resulting benefits to the company. The aim is to provide strong evidence to support the value you provide, so focus on outcomes.
Research the salary you feel your performance and results are worth by reviewing a recent salary guide. This enables you to back up your request with evidence and demonstrate that the salary you are asking for is in line with current market rates.
Ask your manager for a meeting to review your salary. When the time comes, keep it professional. Stay calm and focused. Do not become emotional or talk of how much money you need.
Have a fall-back position. If your employer cannot afford to increase your salary, can you agree a date for another pay review in three or six months? What about extra benefits?
Above all, use accomplishments and the value you add to the organisation as the basis of negotiation. In this way, you’ll clearly demonstrate your worth and will be in a stronger position to secure the maximum of the available salary pool.
Marc Burrage, regional director, Hays in Hong Kong