Negotiating a pay rise is not something many people do on a regular basis. By applying these keys you will be well positioned to improve your negotiation skills and feel more empowered when asking for a pay rise.
1. Know the outcome you want. Do you want a win-win outcome where both you and your boss benefit? Or a win-lose outcome where your boss is not happy with the result?
It is important you know what type of outcome you want because that will affect the long term relationship you have with the other party. Win-win outcomes are beneficial where you have an ongoing relationship. For example, when you negotiate a pay rise, you don't want your boss to feel he/she is the 'loser'. However, if you are buying a car from a car lot, you may not be so concerned about whether the car salesperson feels as though they 'won' in the negotiation!
2. Know your 'position'. How important is this job to you? How much do you need it? Could you walk away from the job? What alternatives do you have? What is your "bottom line" and what (if anything) are you prepared to concede? You should not start negotiating a pay rise until you have thought through and considered all of the consequences for all of the different outcomes that may eventuate.
Warning: never say something you are not prepared to carry through. Generally, employers do not respond well to threats, so do not say you will leave the job unless you fully intend to….they just may take you up on the offer!
3. Work out different scenarios ahead of time. Being caught by surprise will NOT strengthen your request! Think through all the different possibilities, which may eventuate and plan for each and every one of them. It is useful to brainstorm and write down on a piece of paper what could possibly happen. For example, if your boss said, "XYZ" - I would respond with, "ABC". This way you can be prepared for just about anything that may happen.
4. Know yourself. Know your own weaknesses. If you are a gentle personality your natural aversion to conflict may toss you into concessions that aren't necessary! If this is you, learn about yourself and take counter action. If you are overly stubborn and never give way to minor points, know this about yourself. Your stubbornness, holding out for 100% your own way, may cause you to lose a really great offer from your boss!
5. Back up your position with logic. If you negotiate from a purely emotional position, emotion will sway you from your position. Fear of loss, sense of failure, conflict, pressure, sentiment! All can be applied to sway you from sticking to what you really want.
When negotiating for a pay rise, know what similar companies are paying for similar work. Be absolutely thorough in your research. Sentiment and comparisons with other colleagues (unless backed by evidence of your superior performance) will hold little weight.
Most companies concede to market pressures on salaries so the more data you have on like jobs in other companies in the same industry that support your position, the greater your chances of success. If you need help in finding comparable salary information, you can start by browsing the internet for major recruitment firms. Many of these firms will provide online salary information.
6. Work out what you can concede. Occasionally you may know of something that for you, will not be important but for your boss may be of significance. For example, you may volunteer for an unpopular project you boss is having trouble finding people to undertake. This will be like gold to you! This is a 'sweetener' that can be what clinches the discussion in your favour. You will need to be poker faced and pretend this is a big deal to concede…with still remaining gracious! Save this item for the final offer you make.
7. Be prepared. After you have completed your research, rehearse in your mind how you will open the discussion and be clear about your major points. The way you put forward your case, with logic and without sentiment will need to be prepared ahead of time. You may find it beneficial to write our your opening on paper to ensure you have it clear within one or two sentences. If you cannot be clear, on paper in private….it is likely you won’t be clear when you start to speak! Preparation is important so make sure you leave yourself adequate time.
Good Luck!
(c) Kim Beardsmore
Kim is a busy HR Manager, mother to teenage family and homemaker. She has found balance by replacing her corporate income with a home business. If you are interested in earning $500-$5,000 per month around your schedule, visit: http://free2liv.com/?refid=pyrse-567887561
