As the economic climate deteriorated through 2008 and 2009 organisations had a constant focus on cost cutting and inevitably the most significant line of the P&L, staff wages. Those of us that kept our jobs were regularly reminded that we were lucky to have a job. Towing the corporate line meant sharing responsibility for the "greater good" and many organisations put into place fairly radical mechanisms to ensure the "bottom line" was well looked after.
During 2010 we saw a gradual thawing of these conditions, what developed was an undercurrent of employees that stayed in their jobs because they had to, however new statistics suggest that employees are now seeking to change careers, looking for higher salaries and prospects of promotion.
Time for change
Traditionally the New Year is a time for a change in career and lifestyle. Of all the job related minefields you can enter, asking for a pay rise may seem one of the most dangerous. Surely it would give good reason for your boss to think you are totally out of touch with reality, or maybe just insensitive? Surely it's easier just to move on and find another job right? Wrong, the truth is that good employers want to keep their best employees.
The need to reward doesn't change, whether the economy is in a downturn or an upturn. In fact the need to keep good staff is even more critical as the corporate world gathers momentum during 2011 and beyond. The prospect of seeking a salary review is therefore not as far fetched as one may think.
What's your worth?
The trick is to show your manager how much you are worth. Indeed, as the tide begins to turn employees who have had salary packages cut need to brush up on how to approach a salary review. However unlikely the prospect may seem, being prepared is the first step to securing a pay rise.
Here are a few tactics that may help you:
Think like your boss
Second guess them. What objections will be raised? Anticipate the problems and prepare for them.
Write a business plan
Know your worth and know what you want. Find out what similar jobs are paying by consulting a recruiter who specialises in your industry.
Nobody has a better finger on the pulse than recruiters, as they know exactly what your competitors are paying. Prepare a report that outlines all the salary data. This is about providing proof and nobody can argue with facts. Once you have collated this data request a meeting with your boss.
''Timing
''Timing is everything, so make sure you get it right. Ask for a raise after after a personal success and not after the company posted record losses. Consider how unique your input is. Are your skills easily replaced? Would it be disruptive to the business if you left? Increase your productivity.
''Approach
''When asking for more pay, don't be aggressive. Be assertive. Don't threaten or moan. Don't say, "you're underpaying me". You should prove you deserve more because of your merits rather than other people's failings. Give examples of where you have contributed, gone above and beyond the call of duty. Your goal is to let your employer know how difficult it would be to replace you. But never give an ultimatum. If you say you will quit if you don't get a raise, you might talk yourself out of a job.
''Consideration
''Give your boss time to consider your request. Don't expect an on the spot response. Be prepared to negotiate. If you are not getting anywhere with a straightforward pay rise, never threaten to leave. Instead, seek feedback and focus on the reason why your request has been denied.
If you can't get satisfaction in the immediate future, make sure you understand why and negotiate the timing and company expectations to guarantee your next rise. Consider negotiation for perks outside your salary, such as extra leave, or training. Let your boss know you are willing to improve to earn the raise and try to obtain a time frame under which you can obtain it.
The bottom line''
''Remember that the hardest part is asking. But never be afraid to ask - you just don't know what opportunities could open up.
