Negotiating Pay Rises - Advice

Negotiating Pay Rises: Salary negotiation skills and pay rise negotiation advice!

Negotiating a pay rise from a current employer can be very difficult. It requires an excellent business case, successful negotiation and good planning. To build a good business case, research must be done to benchmark salaries with similar companies and job roles. Individuals must set a realistic figure to negotiate from as well as outlining key achievements and examples of going the extra mile at work. We highlight key elements for negotiating a better salary and even how to gain something extra should a pay rise be denied. Salary negotiation tips and dealing with rejection...

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NEGOTIATING PAY RISES: There are certain considerations when using salary negotiation skills.

NEGOTIATING A PAY RISE | Gaining A Pay Rise From A Current Employer

Every person has a 'net worth' and have a feeling about whether they are being paid or valued enough by their employer. If employees feel they deserve more recognition for what they do, have been particularly successful or exceeded expectations then it is time to ask for a pay rise.

Successful negotiators will employ the very best negotiation strategies to get what they want.
This is founded on sound salary research and knowing what they are worth.

Why wait for periodic performance reviews if clearly succeeding in the role.
Why not ask for a pay rise before any perfirmance review process?

Negotiating parties must prepare and consider a business case.
If there is little chance of success, only mention a pay rise during performance reviews.

Pay Rise Negotiation Advice: There are six stages in negotiating pay rises and for successful salary negotiation.

NEGOTIATING A PAY RISE | Do Homework! | Effective Research

Any pay rise has to be justified so it is important to research / benchmark salaries with similar companies and job roles. The Internet is best for comparing regional, national or international salaries. Recruitment consultants are good resources for local comparisons.

NEGOTIATING A PAY RISE | Build A Credible Business Case!

Staff budgets are normally fixed in advance so any pay rises have to be justified.
A credible business case has to convince management for a pay rise. Consideration must be made for paying one employee more than another.

Justification can include special achievements, delivery on projects or adding value through particular skills or going the extra mile. Other examples include evidence of exceeding expectations, extra responsibilities, being overlooked for pay rises in the past and significant employee loyalty, etc. Deserving employees will have to stand out from others.

NEGOTIATING A PAY RISE | Reinforce Business Case

Companies always require something back from their employees if sanctioning a pay rise.
It is important to iterate a continued commitment to do well and promise to stay focused in the future.

NEGOTIATING A PAY RISE | Negotiate A Figure | Be Realistic!

Establish a realistic figure to negotiate with. Expect the employer to negotiate from this figure so factor this into any bargaining position. Chances are the settlement figure will be somewhere in the middle. Companies will not want to upset existing pay structures so remain realistic throughout.

NEGOTIATING A PAY RISE | Reacting To A Refusal | Pay Rise Rejected?

Do not be too disappointed if a pay rise is refused. Management should give feedback to be better placed for a pay rise next time. Some performance targets and a structured plan
can be put in place to help achieve future salary expectations.

It could be an opportunity to ask for more training and development. Non-financial benefits could be offered instead, like extra holidays and private healthcare.

If pay is an important motivator, then it maybe worthwhile considering other opportunities.
Finding another employer may not be the ideal solution.

NEGOTIATING A PAY RISE | Succeeding In Pay Negotiations | A Moral Victory!

Companies pay more for people they value most. Earning a pay rise shows confidence in an employee, whilst effective negotiation skills can be used elsewhere in business.