Human resources expert Elisa Garn shares the steps you should go through to get a raise at work.
How to Get a Raise:
1. If possible, monetize your value. If your efforts or ideas resulted in cost-savings for the company, this can be a great starting point for a compensation discussion because your contributions directly impacted the bottom line.
2. Get the timing right. Pay attention to the climate in your company. If others are being laid off, or there has been a cutback in revenues to the organization, that is generally not the time to ask for a raise. Wait for things to settle, then assess the situation. Perhaps you are now doing the work of two former workers, or you have brought in more revenue than in previous years. Wait until you can approach from a positive rather than negative stance.
3. Be prepared and confident to discuss what the job market is paying for jobs similar to yours. Be sure you cite credible references, and use several resources. payscale.com and salary.com are some free online resources but another good practice is to google your job title and check the salaries for open jobs in your area, or speak with a recruiting agency. Unless you are willing to relocate, don`t reference salaries for other cities/states. Also consider cost of living differences if you do reference other markets.
4. Ask for additional responsibilities. Even better, proactively identify areas you know you can make an impact that will benefit your department or the company.
5. Don`t threaten your employer. Whatever you do, don`t threaten to leave if you don`t get the raise. You also shouldn`t threaten your boss with other job offers, interviews, recruiter conversations, etc. You run the risk of your boss mistrusting you, or in the worst case, if you`re already on somewhat shaky ground, him saying, `maybe you should consider those offers.`
6. Ask for endorsements. One of the most powerful ways to demonstrate to your manager that you deserve a raise, or at least some form of recognition for your results, is to have other people endorse the work you have done and how it helped them. This may be done through a phone call to your manager or an e-mail. The more your manager hears about how your work has contributed to organization goals and results, the stronger you will be positioned to be seen as someone deserving of consideration for an exception in the time of no raises or at least some form of recognition.
7. Don`t bring up personal issues. Don`t tell your boss that you can`t afford your rent, or that you need a raise to cover other personal expenses. Stick to your accomplishments and the value you add to the company.
8. Be patient. Remember, your manager may need a few days to think it over and get back to you, so don`t be disheartened if you don`t get an instant 'yes'. There`s also a chance your boss isn`t the one to make the decision. He or she might have to go to the higher-ups with your request.