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 OfficeTeam, 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 http://www.admin-ezine.com.
Note: Want to use this article in your print publication, e-zine or website? You can do so for *free* as long as you use it in its complete and unaltered form followed by the brief credit line above. I'd love to know about its usage too if you'd like to send me a link or copy at karen@admin-ezine.com.
"If you always do what you've always done, you will... Read More
Today, everyone is looking for the secret to business success.... Read More
As it does with every main life aspect, feng shui... Read More
A new resume can jump-start your career. Your network contacts... Read More
Once you have accomplished your task of getting in the... Read More
Career experts say that people will change careers (not jobs)... Read More
After creating the perfect resume, you then need to distribute... Read More
There is more attitude around than the 'traditional 'positive /... Read More
Interviewing for a new job, or a promotion, can be... Read More
Recently we concluded the placement of a Senior Sales Representative... Read More
With the economy heating up and employment prospects opening up... Read More
Many professionals and managers are so involved in day-to-day crises... Read More
Do you have a tendency to think in absolutes?Is everything... Read More
If you are a pro-active, get-things-done type, sooner or later... Read More
Are you one of the thousands of job seekers who... Read More
If you are thinking about starting your own house cleaning... Read More
Can music help you with your next job interview? It... Read More
There is much to say about posting resumes on the... Read More
Moving without a job will challenge your identity -- but... Read More
Looking for a new job, whether it is with a... Read More
You've just been granted an on-site interview in another town.... Read More
There has been a lot of talk recently about American... Read More
If you're reading this article, I'm sure I don't have... Read More
I learned in first grade that one plus... Read More
One of the fastest growing sectors of the medical industry... Read More
Mystery shoppers are people who are hired to scrutinize employees,... Read More
An Employment Screening OutlinePolicy DevelopmentA policy of Factual Employment Screening;... Read More
In my career advising practice, I often find that my... Read More
(Des Moines, Iowa - February 2, 2005) Behaving appropriately during... Read More
No, you can't control how the interview will be conducted,... Read More
Are you in this situation? You and your boss just... Read More
Tips on writing your Skills and Achievement Based CV (ABCV)... Read More
"When I was a child, I always thought the world... Read More
Dealing with tough questions and objections is an essential part... Read More
There are several ways to work from home. Some of... Read More
You've been a model employee: responsible, industrious, creative and productive.... Read More
Working in ChinaWorking in China is very common now. Either... Read More
Your resume is your sales letter. It may not get... Read More
Let's be realistic here - hands up all of you... Read More
Imagine if a business invested years into the research, design,... Read More
Chances are if you're reading this you've thought about becoming... Read More
The Super Bowl is a game but, like sports in... Read More
In the 1992 USA Presidential election, political strategist James Carville... Read More
"Bill, thanks so much for your assistance with this search.... Read More
Research indicates that we retain only 10% of what we... Read More
I'll be the first to admit that I hated my... Read More
Ohio has always been big on education and that means... Read More
1) Build a Relationship With Your BossLike it or not,... Read More
Are you a new graduate with little or no work... Read More
You're interested in becoming a nurse. How do you get... Read More
Careers, Jobs & Employment Careers, Jobs & Employment |
|