With the economy struggling and many Australian companies in the midst of downsizing, now may not seem like the time to ask for a raise. However, if you have many accomplishments under your belt or if you have begun taking on additional responsibilities as a result of downsizing, you may still be able to negotiate a pay raise with your employer. Before asking for a raise, consider whether the company is in the financial position to offer you a raise. Many companies, due to the economy, have put freezes on pay raises, and many companies are simply not equipped financially to pay out raises at the present time.
If, however, you feel that you have accomplished certain goals, taken on additional responsibilities or honed your job skills, then it may be time to ask for a raise.
Guidelines For How To Request A Raise From Your Employer
- Begin by researching your field and finding out what others in the same field are making. There are many online sources that can help you find salary guidelines information. You can use these salary guidelines when negotiating a salary increase with your boss.
- Prepare your case. Prepare your pay review request in writing and list, in detail, all of your recent accomplishments and responsibilities. Use your written list to help organize your thoughts during your meeting with your boss.
- Make an appointment to meet with your boss regarding your pay review. Take the time to properly discuss your pay raise with your boss in person. Don’t email him or her, or simply pop in unannounced.
- Don’t talk about how much money you need, or complain about your financial situation during your pay review. And don’t tell your boss that you deserve a raise. Instead, allow your accomplishments and professionalism to speak for themselves.
- Be flexible in terms of your salary increase. If your boss is willing to negotiate a pay raise with you, consider it a success, even if it is less than what you had hoped for. Plead your case as to why you deserve a pay increase, but always remain flexible and understanding.
- If your boss turns down your pay increase request, ask what you can do to earn a raise in the future, and offer to take on additional responsibilities.
What To Do If Your Company Cannot Offer You A Raise
If your company is not in the financial position to offer you a raise but they do value you as an employee, consider some other options. Be prepared for the meeting with your boss by having some other ideas as to how they can reward you. Some employee benefits offered at companies around Australia include the following:
- Work-Life Balance - Your employer may be in the position to offer you flexible working hours. This works particularly well for employees with children or family committments. If you feel you work more efficiently early in the morning, ask if you can work from 7am-3pm instead of the traditional 9am-5pm.
- Gym Membership - Many employers recognise the benefits of exercise for their employees and offer them free gym membership.
- Rostered Days Off - Employess having the opportunity to work extra hours during the week in exchange for a scheduled day off.
- Study Assistance/Study Leave - Your employer may be able to provide you with time off work to further develop your knowledge, skills and competence by undertaking studies relevant to your position.
- Salary Sacrifice - Your employer can give you the option to reduce your taxable income by offering salary sacrificing additional super, car lease, credit card payments and more.
- Parking - to people working in high density areas such as CBD's this can often be a deal breaker. Employees can spend huge amounts of money each year on transport or parking fees to get to work.
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