Editor's note: Getting a raise or a
performance bonus is the number one desire for most employees. Big
shock, huh? Of course it is. Getting additional money on a
paycheck, even if it's a once a year thing, will make life easier, reduce
financial concerns, help to purchase a new asset, or just fatten a savings
account.
The question then for most
employees is, "How do I talk my boss into parting with more
cash?" The article below will give you some good head's up on why
and what makes employers not only willing, but able to give you the raise or
bonus that you think you deserve. You might just find that you don't
deserve one, just because you haven't had one in awhile. Learn to make
yourself more valuable and most of all, don't spring your request for a raise
on your boss and expect something will happen right away.
What Employees Wish for Most (A
Bonus/Raise)... (And How To Get It)
by: Karen Fritscher-Porter
What do many employees wish for at work? A
bonus or raise. At least that's so according to results from a recent
survey developed by Office Team, a global staffing service that specializes in
placing administrative professionals.
The telephone survey, conducted by an independent
research firm in February, polled 571 men and women in the United States over
the age of 18. All respondents were employed full-time in professional
positions. Survey results revealed that almost half (48%) of the respondents put
"a bonus or raise" at the top of their "wish list" at work.
But that wish probably doesn't surprise those
of us who already feel overworked and underpaid or are in need of just a bit
more money for personal financial reasons. But is that wish based in reality and
if so, why isn't it happening for some of us?
Well, while I can't tell you with absolute
certainty how to get a raise, I can tell you it often takes more effort than
simply crossing your fingers or putting it on your "wish list".
Your first step toward getting a raise or bonus
is to tackle that reality factor associated with wanting more money; that is,
you must determine if and when you warrant a raise or bonus. And today's reality
says that being a worker who gets to work on time, does a good job and sometimes
even stays late just isn't enough to warrant bigger bucks in business. Neither
is personal financial need.
"A lot of people have the misguided notion
that because they're working really hard, they deserve a raise," says
syndicated workplace advice columnist and leadership development consultant Joan
Lloyd. "Or people think that because their personal expenses have gone up,
they deserve more money." Not so, says Lloyd who owns Joan Lloyd &
Associates in Milwaukee (www.joanlloyd.com).
"The bottom line is there are only
two basic ways to earn more," Lloyd says. "And that's either
increase the size of the job or increase the level of performance."
More specifically, Lloyd explained these two
factors this way:
1. If you have roughly 20 percent more
responsibility and authority in your job, you're within your rights to ask for
more money, she says. That's because your job is more substantial and thus truly
worth more now on the open market.
2. If your performance on the job is over and
above, then a merit increase or bonus pays you for the effort and results you're
getting.
And determining if or when your performance has
increased relies on more than instinct or guesswork. Use methodology. Have a
plan.
"At the beginning of every year after the
performance review, talk about expectations [with your boss]," advises
Lloyd. "Ask 'What would excellent performance look like?'" she says.
And persist if your boss doesn't give you a straight answer. "Say 'I really
want some examples,'" says Lloyd. "Ask 'Does it mean this? Does it
mean that? How can I aim for a higher goal so that at the end of the year, I'm
eligible for a bigger merit increase?'"
After that, Lloyd suggests you check in twice
during the year. "Don't wait and be surprised," she says. "Check
in and say 'How am I doing against what we talked about? These are the
expectations you said (write them down beforehand). How am I doing against them?
And if I'm not at an excellent level, please tell me how I can get there so at
the end of the year I'm eligible.'"
Then if you've been getting feedback throughout
the year and keeping communication channels open with your boss, his jaw won't
slacken at your request for a salary increase when you make "the ask".
About two months before performance reviews, or
before the appropriate budget cycle at your company if you don't have
performance reviews, give your boss a heads up about your specific desire for a
raise or bonus. Why? Because your boss needs time to present your case to his
boss, the owner or the human resource department and to do so before the budget
has been finalized for the year.
So be proactive and initiate a conversation
about your performance at that time, says Lloyd. Don't stay silent, possibly
indicating you're satisfied with things as is or just plain getting lost in the
shuffle on your boss' to do list.
And when you ask for the raise, don't make
demands or whine but rather be factual and make a very strong business case,
Lloyd advises. Consider even putting your case in writing so you make it easier
on your boss to restate if he must take your request to someone higher in the
company.
Your case should include previously discussed
expectations and how you fulfilled them and what results you attained. Or make a
chart showing your responsibilities at the start of the year and your current
increased responsibilities and decision-making authority.
"It should be pretty evident to the
manager that you want more money and that you are open to taking on more
responsibility or improving your performance," says Lloyd. "So this
[salary request] shouldn't come as a surprise at the end of the year or
cycle."
And before you make your case, always have a
plan B. You may truly warrant a raise, and your boss may truly want to give you
one. But for whatever reason, a raise may not be plausible this year at your
company. So plan B could include what else you'll settle for in lieu of a raise,
such as a couple more days of paid vacation, a flexible work schedule that
allows you to work at home one day a week or just a spot bonus.
"If you're a good employee, bosses don't
want to lose you and they feel just as badly as you do that they can't reward
you for what you're doing," Lloyd says. "And the thing that worries
every manager when they can't give a raise is 'Am I going to keep my good
people?'" Plan B might just answer that question for both of you this year.
And then next year is a whole new ballgame.
©
2004 Karen Fritscher-Porter
About The Author
Karen Fritscher-Porter is the publisher and
editor of The Effective Admin, a FREE monthly e-zine for administrative
support professionals who want practical tips to advance their career and
simplify their daily job duties. Learn more about The Effective Admin and sign
up today to receive your FREE issues full of helpful career and workplace tips
at www.admin-ezine.com. Karen@admin-ezine.com
