| Eve & Elle Admin
"In any type of negotiations, you should prepare accordingly and try to put yourself in the other person’s shoes, then design your approach."
At a certain point you realize it’s time to get a raise. The task can be daunting because you’ll be approaching your manager to ask for something, while you’re used to giving something back; giving an update on your progress, contributing toward a project, or attaining a new contact for the company.
What the experts say
As in any type of negotiations, you should prepare accordingly and try to put yourself in the other person’s shoes, then design your approach.
#1 Consider your manager’s perspective
According to Kathleen McGinn, professor of business administration at Harvard Business School, it is crucial to consider why your manager should even consider granting your request. By understanding your boss’s interests and goals, and aligning those with your own case, you are more likely to get what you want. Here’s how to craft your request.
#2 Research your worth
Find out your worth within the industry, sector and at other comparable firms. You should gather information about company- and industry-wide salaries, so that it puts your demands into perspective. That way you go into negotiations with a reasonable target figure in mind. Great resources are your own professional network, the company human resource department, and sites like GlassDoor as well as PayScale. Be bold, ask around (politely of course) and determine your worth in the marketplace.
#3 Demonstrate growth and added value
You have developed and grown in your position. You’re not the same person you were when you started out. At the time that your salary amount was agreed upon, you were less experienced and hadn’t achieved yet what you have in the time that you’ve worked at the firm. You’re worth more to the organization now and that worth deserves to be reflected in a salary that is fitting to the value that you add now. Compile a list of how you have added and continue to add value to the firm in your position. You want to be able to demonstrate how you add value and how you’ve made a difference to the company.
#4 Getting there step-by-step
Now that you’ve researched and prepared your conversation, make sure that you structure it correctly. Lead with positivity and enthusiasm for your work. Your manager will want to give you a raise with the right attitude. According to the leadership development and recruitment firms that we consulted, - there is an art to the ask. This will be your conversation step-by-step;
Motivation: Explain your relationship position, in positive and constructive terms
i.e. Drive, Commitment, Enthusiasm
Purpose: Why you’re meeting – the raise
Amount: What you request
Value: Why you’re worth that.
I.e. Describe your proven track record, or list the key contacts derived from your network.
Sources: What resources you’ve consulted to determine your worth
i.e. positions at other firms and the salary they pay, and the comparative salaries according to HR
Exit and Agreement: When you get what you want, it’s time to end the conversation. Make sure that the conversation is well documented, in writing, and specific on what terms you agree on and the timeline that this will take place.